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Posted On: 19 June 2021 02:21 pm

Qatar ranks 17th in World Competitiveness Yearbook 2021

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Qatar ranked 17 in The World Competitiveness Yearbook 2021 - which is published annually by the International Institute for Management Development (IMD) in Switzerland - out of 64 countries, mostly high developed countries.

The ranking was based on national statistics provided to IMD as well as the result of surveying a sample businesses manager who provided their views of Qatar's economy competitive climate.

Areas, where Qatar ranked highly in the report, included economic performance (ranked 11), government efficiency (ranked 6) and business efficiency (ranked 15). Moreover, Qatar has maintained its ranking at (40) for infrastructure.

Qatars rank has been positively influenced by many factors including strong economic performance as represented by, Qatar's low unemployment rate (ranked first), consumer price inflation (ranked first), high percentages of government budget surplus/deficit (ranked first) and gross fixed capital formation (ranked second), Central Bank policy (ranked second), transparency (ranked third), entrepreneurship (ranked third), whereby other factors had negatively influenced the rank as start-up procedures (ranked 54), export concentration by product (ranked 63), renewable energies (ranked 64).

HE President of Planning and Statistics Authority, Dr. Saleh bin Mohammed Al Nabit, welcomed the findings of the report, stating that "Despite a slight decline in Qatar's ranking among the 64 countries, it continues to rank high thanks to the flexibility of the Qatari economy in addressing economic crises and efforts to address the repercussions of the Covid-19 crisis."

His Excellency added that "Qatars consecutive national development strategies, sets out clear goals and interventions in the areas of economic infrastructure and private sector development that will lead to economic and social growth."

Qatar's competitiveness assessment in IMD World Competitiveness Yearbook 2021 is a collaborative effort between International Institute for Management Development and Planning and Statistics Authority. The State of Qatar has contributed to the IMD Competitiveness Yearbook for the 13th time.

Source: Qatar News Agency

Image credit: International Institute for Management Development (IMD)