Out of a list of 64 countries, Qatar has recently ranked 18th in the Competitiveness Index, according to the World Competitiveness Yearbook for 2022, annually issued by the Institute for Management Development (IMD) in Switzerland.

This result is based on various factors including a set of indicators and data that are provided at a local level. Furthermore, the business environment and competitiveness in the Qatari economy are measured by a survey that is distributed to company managers and businessmen.

Qatar came on the top for the following areas, where ranking is used as an evaluation. The country ranked first on factors such as low employment rates, cybersecurity, and government subsidies. In the second rank, factors included the high percentage of the government budget deficit surpluses, constant capital formation of GDP, and international experience, and in the third rank, big data analysis and entrepreneurship. 

The axes in which the State of Qatar ranked high in the report included the economic performance rank 9, government efficiency rank 7, and the business sector efficiency rank 14, while it maintained a rank 38 on the axis of infrastructure.

HE President of the Planning and Statistics Authority Dr. Saleh bin Mohammed Al Nabit celebrated the fact that the ranking comes at a very advanced position, thanks to the resilience of its economy in overcoming economic crises.

He explained that successive national development strategies have made progress in the field of economic infrastructure and in the field of developing the private sector by organizing partnerships with the public sector in a manner that contributes to achieving economic growth and diversification in order to achieve the goals of Qatar National Vision 2030.

The State of Qatar's part, for the 14th consecutive time, in the World Competitiveness Yearbook for 2022, comes as a benefit of the support and cooperation between IMD and the PSA.

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Source: Qatar News Agency
Cover Image credits: Petrofac