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Hong Kong takes biggest ever fall in global 'Power City' rankings

Financial hub down to 23rd from 13th; Singapore and Tokyo remain in top 5

Hong Kong fell in the ranking partly due to its worsening economic freedoms and China's growing political clout in the city.   © Reuters

TOKYO -- Hong Kong has logged its biggest fall in a global ranking of cities' ability to attract people, business and capital, due largely to COVID-19 headwinds and deteriorating economic freedoms.

The Asian financial hub slipped to 23rd place in the latest Global Power City Index, down from 13th last year. The number of arrivals and departures at airports in Hong Kong has yet to recover to pre-pandemic levels, hurting the city's score on accessibility. By contrast, the number of air travelers going through other hubs, such as New York and Chicago, has increased sharply from the previous year.

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