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83 November, 2020 Hong Kong Global: 9 Availability: 19 Cost: 7 Regulation: 38 Productivity: 5 2020 Global TWI Ranking (out of 76) 2020 Regional TWI Ranking (out of 15) Region: 2 Availability: 6 Cost: 4 Regulation: 7 Productivity: 3 Remote Readiness 3 Remote Readiness 12 10.8% 8.8% 0% 20% Hong Kong Regional Ave. % of GDP Hong Kong has spent $37 billion USD in measures to combat Covid-19. The economic response includes: Cash transfer to all adult Hong Kong residents Employment wage subsidy Easing of criteria to claim unemployment benefits Payments of grants to specific groups of workers and industries that have been impacted by Covid-19 Investment to create up to 30K short term jobs in the private and public sector Training subsidies and grants https://www.imf.org/en/Topics/imf-and-Covid-19/Policy-Responses-to-COVID-19 Hong Kong Q4 2019* Q4 2020* % Change YOY Total Workforce 3.97M 3.89M -2.1% Unemployment Rate (%) 3.1% 6.4% +106% Unemployed Workers 123K 249K +102% Manpower 2020 Total Workforce Index Workforce Statistics Covid-19 Situation Covid-19 Government Spend as % of GDP Border Closures and Restrictions Additional Government Spending and Foregone Revenue to September 2020 Covid-19 Confirmed Cases and Deaths - Worldometers *Reported figures at Q4 each year https://www.worldometers.info/coronavirus/ https://www.imf.org/en/Topics/imf-and-covid19/Fiscal-Policies-Database-in- Response-to-COVID-19 Non-Hong Kong residents arriving on flights are banned from entry. Although arrivals from mainland China, Macau and Taiwan are permitted provided they have only been in that country in the previous 14 days. A 14 day quarantine period is required in addition to a negative Covid-19 test result. Wearing of face masks in public is mandatory. Most schools and many non-essential shops and services have recently been closed. Other Sources: https://data.worldbank.org/ https://ilostat.ilo.org/ https://home.kpmg/xx/en/home/insights/ https://www.gov.uk/foreign-travel-advice United States Embassy https://tradingeconomics.com/ Hong Kong Statistics