2024 Ranking of the World's Top 100 Special Economic Zones (SEZ)

Shenzhen, Shanghai, Hong Kong maintain Top-3 places in 2024 Global SEZ Ranking

By George ELIOT

The Top-3 Special Economic Zones (SEZ) in the world for 2024 were Shenzhen, Shanghai and Hong Kong, unchanged from 2023 despite the addition of three AI factors to the 2024 ranking.

2024 RANKING METHODOLOGY

A review of the ranking methodology in 2024 resulted in adding three more factors to the original five factors that shaped the 2023 ranking: we asked 

• ChatGPT, 
• Microsoft CoPilot and 
• Google Gemini 

which the best SEZ in each country were and allocated 5 points (5%) weight when a given SEZ was identified by any of the three AI platforms (adding up to a maximum of 15 points if listed by all three). 

Thus the 2024 Global SEZ Ranking was based on eight factors: the three new AI factors (for up  to 15% weight) and the original five factors (details in 2023 Ranking): 

• Proximity to a Global City (50%); 
• UNDP Human Development Index - HDI (15%); 
• Proximity to the ocean / coastline (5%); 
• Proximity to a functioning airport or port (5%); and 
• Up to 15 bonus points or 15 deducted points for performance of the zone itself or for the country as a whole. 

In the 2024 edition, the (geographical) scope of some zones was also made more precise: either expanded or shrunk, depending on the development and maturing of these projects.

2024 MOVEMENTS IN TOP 10 SEZ

While the Top-3 zones for 2024 (Shenzhen, Shanghai and Hong Kong) remained unchanged from 2023, Jebel Ali (UAE) and Zhongguancun Beijing went up two places in 2024 to claim the 4th and 5th place, respectively. On the other hand, Changi Airport (Singapore) and Dubai Multi Commodities Centre went down by two places in 2024 to 6th and 7th place, respectively. Macau (China) went up three places to 8th, while Tokyo Special International Zone for Asian Headquarters (Japan) and the Batam-Bintan-Karimun FTZ (Indonesia) went up by eight places each to claim 9th and 10th place.

REST OF 2024 SEZ RANKING

Thirteen SEZ entered the Top 100 ranking for the first time in 2024, all of them ranked between 81 and 99. These 13 gained between 21 and 28 points each compared with their 2023 position.

While the Top-20 group in 2024 saw swings of no more than 8 places up or 9 places down compared with 2023, the bottom 20 SEZ saw much wider swings, ranging between a 28-place improvement (Coatzacoalcos, Mexico, ranked 99th) and a 31-place decline (DP World Caucedo, Dominican Republic, ranked 100th).

NUMBERS BY COUNTRY

A total of 45 countries managed to place at least one SEZ in the Top 100 in 2024, same as in 2023. China (19 SEZ), USA (10 SEZ), Qatar (4 SEZ) and Singapore (4 SEZ) had the biggest number of zones in the Top 100 in 2024, unchanged from 2023. Seven countries that had at least one zone in the 2023 Top 100 dropped out in the 2024 edition: Germany, Brazil, Israel, Italy, Kazakhstan, Nigeria and Saudi Arabia. The surprising exit of Saudi Arabia is probably a one-year blip, as Saudi is making strides in both nationwide reforms and new urban development projects. On the other hand, zones in seven new countries entered the lowest quntile of the 2024 ranking, after being absent from the Top-100 in 2023: Chile, Georgia, Oman, Bahamas, Lithuania, Mauritius and Mexico.

19 China
10 USA
4  Qatar
4  Singapore
3  India
3  Indonesia
3  Panama
3  Turkey
3  UAE
3  UK (incl. Cayman Is)
2  Argentina
2  Canada
2  Chile
2  Georgia
2  Ireland
2  Japan 
2  Latvia
2  Oman
2  South Korea
2  Vietnam
1  Bahamas
1  Bangladesh
1  Colombia
1  Costa Rica
1  Denmark / Sweden
1  Dominican Republic
1  Estonia
1  Greece
1  Kenya
1  Lebanon
1  Lithuania
1  Luxembourg
1  Malaysia
1  Malta
1  Mauritius
1  Mexico
1  Philippines
1  Poland
1  Portugal
1  Romania
1  South Africa
1  Spain
1  Sri Lanka
1  Thailand
1  Uruguay

NUMBERS BY REGION / CONTINENT

Divided among the world's regions, the 2024 Top-100 ranking includes:

• 42 SEZ in Asia
• 17 in Europe
• 13 in North America
• 13 in Latin America
• 12 in Middle East
• 3 in Africa

FULL LIST OF TOP-100 SEZ FOR 2024

1 China Shenzhen
2 China Pudong (Shanghai)
3 China Hong Kong
4 UAE         Jebel Ali Free Zone
5 China Zhongguancun (Beijing)
6 Singapore Changi Airport Free Trade Zone
7 UAE         Dubai Multi Commodities Centre (Jumeirah Lakes Towers Free Zone)
8 China Macau
9 Japan Tokyo Special International Zone for Asian Headquarters
10 Indonesia Batam-Bintan-Karimun Free Trade Zone
11 China Zhuhai (including Hengqin)
12 Ireland Dublin International Financial Services Centre
13 Singapore Brani Terminal Free Trade Zone
14 USA Port Authority of New York and New Jersey (FTZ No. 049)
15 USA Los Angeles FTZ No. 202
16 USA Houston Port (FTZ No. 084 Harris County)
17 Singapore One-North Innovation District
18 UK         London Royal Docks Enterprise Zone
19 Qatar Ras Bufontas - Airport Free Zone
20 Qatar Umm Alhoul - Port Free Zone
21 Qatar Qatar Science and Technology Park
22 Singapore Jurong Innovation District (JID)
23 South Korea Yangcheon Industrial Complex
24 Vietnam Saigon High Tech Park
25 Qatar Qatar Financial Centre
26 China Tianjin Binhai
27 China Xiamen
28 China Suzhou Industrial Park (Suzhou  Economic and Technological Development Zone)
29 Denmark/Sweden Copenhagen Malmo Port
30 UK         Thames Freeport
31 Indonesia Taiwan International Industrial Estate
32 Spain Zona Franca de Barcelona
33 Greece Free Zone of Piraeus
34 India Noida Special Economic Zone
35 Thailand         Eastern Economic Corridor (Bangkok)
36 Colombia Bogota Free Trade Zone
37 South Korea Incheon Free Economic Zone (IFEZ)
38 USA San Francisco FTZ No. 003 
39 Indonesia Jakarta Industrial Estate Pulogadung
40 Poland Warsaw Airport Duty Free Zone
41 India Jawaharlal Nehru Port Trust SEZ (Mumbai)
42 Uruguay World Trade Center Free Zone (Montevideo)
43 Panama Panama Pacifico Special Economic Area
44 Malaysia        Sungai Way Free Industrial Zone, Wpkl
45 China Baiyun Industrial Park (Guangzhou)
46 China Hangzhou Economic and Technological Development Zone
47 UAE                Masdar City Free Zone
48 Canada Calgary Region Inland Port
49 USA Miami FTZ No. 032 
50 Vietnam Tan Binh Industrial Zone (Ho Chi Minh City)
51 Canada FTZ Vancouver Island
52 Luxembourg Luxembourg Free Port
53 USA Atlanta FTZ No. 026 
54 USA Dallas Fort Worth FTZ No. 039 
55 Japan Kansai Innovation International Strategic Comprehensive Special Zone
56 Panama Panama-Tocumen International Airport
57 Kenya Tatu City SEZ (Nairobi North)
58 China Jinniu High-Tech Industrial Park
59 China Hefei Shushan Economic Development Area
60 China Hainan International Industrial Park of Science and Technology
61 China Ningbo Hi-Tech Industrial Development Zone
62 Sri Lanka Colombo Port City
63 Ireland Shannon Free Zone
64 Argentina La Plata FTZ
65 USA Seattle FTZ No. 005 
66 USA Austin FTZ No. 183 
67 Lebanon        Port of Beirut Logistics Free Zone
68 Malta Malta Freeport
69 Estonia Muuga Free Zone (Tallinn)
70 Turkey Istanbul Tracia Free Zone
71 Argentina Zona Sur Buenos Aires
72 Romania        VGP Park Bucarest North
73 Panama Colon Free Zone
74 Costa Rica Coyol Free Zone
75 China Xiyong Microelectronics Industrial Park (Chongqing)
76 China Jiangan Economic Development Zone (Wuhan)
77 China Jiangning Economic Development Zone (Nanjing)
78 Philippines Clark Freeport and Special Economic Zone
79 USA San Diego FTZ No. 153 
80 Latvia Free Port of Riga
81 Latvia Liepaja SEZ*
82 Lithuania        Klaipeda Free Economic Zone*
83 Cayman Isl Cayman Enterprise City
84 Portugal         Zona Livre Tecnologica Matosinhos (Porto)
85 Bangladesh Dhaka Economic Zone, Dohar
86 Chile Punta Arenas Free Trade Zone*
87 Chile Arica Free Trade Zone*
88 Turkey Antalya Free Zone*
89 Turkey Mersin Free Zone*
90 India New Chennai Township Private Limited
91 Bahamas        Freeport Grand Bahama
92 Oman Duqm Special Economic Zone*
93 Oman Salalah Free Zone*
94 South Africa OR Tambo Industrial Development Zone (Johannesburg Airport)
95 Georgia Tbilisi Free Industrial Zone*
96 Georgia Poti Free Industrial Zone*
97 Mauritius The Mauritius Free Port*
98 China Shantou*
99 Mexico Special Economic Zone of Coatzacoalcos*
100 Dominican R   DP World Caucedo

*The 13 SEZ that entered the 2024 Top 100 ranking for the first time are marked with an asterisk.

SUMMARY

While the five baseline factors from the 2023 ranking remained unchanged in 2024, the addition of the three AI components with a weight of 5 points each led to some swings (and roundabouts), resulting in movement up and down in the ranking. Yet, China remained the world's undisputed leader in SEZ in 2024 with almost one-fifth of all Top-100 zones based in the People's Republic.

FULL TABLE (INCLUDING FACTOR WEIGHTS)