Qatar Is 2nd Most Competitive Economy in Arab World

Published October 18th, 2018 - 05:41 GMT
The World Economic Forum’s annual study on the global economy showed that Qatar has improved its rank by two places from last year’s 32nd place out of 135 countries. (Shutterstock)
The World Economic Forum’s annual study on the global economy showed that Qatar has improved its rank by two places from last year’s 32nd place out of 135 countries. (Shutterstock)

Qatar is the second-most competitive economy in the region as the country has been ranked second in the Arab world and 30th globally in The Global Competitiveness Report 2018 released by the World Economic Forum (WEF) in collaboration with the Qatari Businessmen Association (QBA) and the Institute of Social and Economic Research of the University of Qatar (SESRI). The high score of Qatar reflects its continued global competitiveness and reinforces the country’s plan to join the list of the 10 most competitive economies in the world over the next 10 years.

Qatar is ranked first among the top 10 global economies in 14 indicators, said the report.

In the institutional category, Qatar ranked ninth globally in the “Efficiency of the legal framework in challenging regulations” indicator and ranked eighth in the “Future orientation of the government”.

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In the ICT Adoption category, Qatar ranked seventh in the Internet users indicator and the spread of high-speed Internet services (broadband). Also, Qatar has taken the lead in the sector of the macroeconomic stability in the inflation rates indicator as it ranked first globally.

As for business dynamism, Qatar ranked 10th in the indicators of growth of innovative companies and the attitude towards entrepreneurial risk, ninth in financing small and medium enterprises and eighth in venture capital availability as part of the financial system.

The World Economic Forum’s annual study on the global economy showed that Qatar has improved its rank by two places from last year’s 32nd place out of 135 countries.

This year’s report assessed 140 countries.

Qatar has outpaced several countries in the region, including Saudi Arabia, Bahrain, Italy, Turkey, Russia, India, Brazil and Argentina.


© Gulf Times Newspaper 2019

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