Hong Kong ranks top in global financial literacy study
The OECD International Network on Financial Education (OECD/INFE) 2020 International Survey of Adult Financial Literacy was conducted across 26 countries and economies. On a scale of 1 to 21, Hong Kong's financial literacy score was 14.8 and ranked first in the survey.
The study measures overall levels of financial literacy, as indicated by combining scores across knowledge, attitudes and behaviour. Fieldwork in Hong Kong, led by the IFEC, was conducted in November 2019 and 1,002 Hong Kong adults were surveyed. Of the three components of financial literacy, Hong Kong achieved top position in the area of financial knowledge, ranked sixth in behaviour, and 14th in attitude.
However, there is still much room for improvement - as a senior representative from OECD/INFE remarked, Hong Kong only scored 71% of the maximum score overall, and more needs to be done.