Qatar ranked first globally in both the effectiveness of corporate boards and the number of immigrants
Qatar ranked 11th out of 67 countries in the 2024 Global Competitiveness Handbook issued by the Organization for Economic Cooperation and Development. International Institute for Management Development (IMD) in Switzerland, compared to twelfth place last year. Qatar also ranked fourth in the economic performance index, seventh in government efficiency, 11th in business efficiency, and 33rd in infrastructure.
Overall performance
The report attributed Qatar’s high competitiveness to the country’s rise in several indicators at the local level, in addition to the results of an opinion poll of a sample of company managers and businessmen about the business environment and the competitiveness of the Qatari economy. The report then compared Qatar’s results with other countries to arrive at the classification.
In the economic performance index, in which Qatar ranked fourth, the most prominent indicators were the unemployment rate, the youth unemployment rate, and the terms of trade index, in which the country ranked first in the world.
In the government efficiency factor, the Qatari economy ranked first in both the consumption tax rate and the personal income tax rate. At the same time, it ranked second in the public finance index. As for the business efficiency factor in the Global Competitiveness Handbook, Qatar ranked first globally in both the effectiveness of corporate boards and the number of immigrants, while it ranked second globally in the working hours index. In the infrastructure factor, Qatar ranked first in the sub-factors of energy infrastructure and number of Internet users per 1,000 people.
Read: The UAE ranks seventh in the world in the Global Competitiveness Report 2024
There are still challenges
The report also highlighted some of the challenges facing Qatar in 2024, including the sustainability of investments in human capital formation, economic growth, and economic diversification efforts.
The 2024 Global Competitiveness Handbook also points to challenges such as managing a more balanced business mix to enhance productivity, enhancing governance and transparency structures to enhance public confidence and accountability, increasing competitiveness and a greater focus on innovation across Qatar.
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