Qatar ranked 21st globally in Kearney’s 2023 FDI Confidence Index

Qatar ranked 21st globally in Kearney’s 2023 FDI Confidence Index

QLNews
By QLNews

Qatar jumped three spots to improve its global ranking to 21 in the recently released Kearney’s 2023 Foreign Direct Investment (FDI) Confidence Index. Thanks to the 2022 FIFA World Cup boosting investor interest, the country also finished second in the regional table.

Qatar also ranked second regionally and fourth globally in the newly-introduced ranking for Emerging Markets, highlighting the positive impact of the country’s economic diversification efforts as part of Qatar Vision 2030.

The Emerging Markets ranking aims to provide business leaders with additional insights into which emerging markets are most attractive to investors.

Qatar’s robust GDP growth of 4.1% in 2022, up from 1.5% in 2021, and its rising technological and innovation capabilities also helped the country improve its ranking.

“Qatar’s steady rise in rankings speaks to the power of consistency and momentum. With the FIFA World Cup hosted in the country in 2022, they benefitted from a surge of tourism that not only contributed to the growth of the economy but also strengthened the visibility of the country and indeed the region.

“The success of the World Cup combined with the country’s ongoing adoption of open economic policies, commitment to diversifying the economy and continued investment in advanced innovative technological infrastructure have strengthened the attractiveness of the country to investors,” commented Rudolph Lohmeyer, Partner, National Transformations Institute, Kearney Middle East.

Qatar’s high ranking would not come as a surprise to many. Earlier this year, the Numbeo Crime Index by Country 2023 report had voted Qatar as the safest country in the world for the fifth year in a row.

Just a few days back, UK security training outfit ‘Get Licensed’ ranked Doha as the 10th safest city in the world for tourists.

The country’s surging exports and prudent wealth management initiatives were highlighted when Russian news agency ‘RIA Novosti’ ranked Qatar’s $97.5 billion trade surplus as the sixth highest in the world.

Qatar had recently been chosen as the Arab Tourism Capital 2023 by the Arab tourism Organisation, based on various criteria including tourism management, infrastructure and resources, safety and security, diversity of tourism activations, and preservation and protection of the environment.

Coming to the health, five Qatari hospitals — National Center for Cancer Care & Research, Hamad General Hospital, Rumailah Hospital, Heart Hospital and Sidra Medicine — had recently been named among the world’s top 250 academic medical centres.

Transparency International’s 2022 Corruption Perceptions Index saw Qatar score 58 points to rank as the 40th least corrupt nation in the world and the second least in the Arab world.

Meanwhile, the UAE and Saudi Arabia were ranked 18th and 24th respectively in Kearney’s 2023 FDI Confidence Index. The GCC countries also placed high in the Emerging Markets ranking with UAE finishing third.

Investor sentiment is growing in other Middle East countries as well, with Egypt, Turkey and Morocco ranking 14th, 15th and 16th among emerging markets respectively.

The United States took the top ranking for the 11th consecutive year while Canada reclaimed their second spot after falling to third in 2022. Japan jumped to third place while Germany dropped two spots to fourth. While the United Kingdom maintained fifth place, France was a close sixth. China jumped to the 7th position.

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