Qatar Achieves 11th Place In Global Competitiveness Rankings 2024
Qatar has achieved an impressive 11th place out of 67 countries in the 2024 World Competitiveness Booklet. This booklet, published by the International Institute for Management Development (IMD) in Switzerland, showed an improvement from last year's 12th place ranking.
The Qatar News Agency (QNA) reported that Qatar ranked 4th in economic performance, 7th in government efficiency, 11th in business efficiency, and 33rd for infrastructure. These rankings were determined by a comprehensive set of local data, indicators, and an opinion poll of company managers and businessmen on the business environment.
Qatar's ranking was boosted by strong performance in several key areas within these four factors. For economic performance, the country ranked first globally in unemployment rate, youth unemployment rate, and terms of trade index. Under government efficiency, Qatar also excelled, ranking first in the consumption tax rate and personal income tax rate, and second in the public finance index.
In business efficiency, Qatar led the world in the effectiveness of corporate boards and migrant stock. The country also secured second place globally in the working hours index. Under the infrastructure factor, Qatar achieved first place in energy infrastructure and the number of internet users per 1,000 people.
The competitiveness assessment also included comparing Qatar's data and indicators with those from other reviewed countries, showcasing its robust performance in various economic sectors. The country's strengths in these subfactors have significantly contributed to its overall high ranking in the World Competitiveness Booklet.
These achievements highlight Qatar's exceptional progress in enhancing its business environment and economic landscape. The country's focus on maintaining strong economic performance and government efficiency has clearly paid off.
Such rankings are a testament to the effectiveness of Qatar's policies and its commitment to fostering a competitive and dynamic economy. The high rankings in several subfactors illustrate the country's well-rounded approach to development and competitiveness.
Qatar's sustained efforts in key areas have led to these remarkable outcomes. The country's performance in the IMD rankings reflects its dedication to continuous improvement and excellence in various economic domains.
This recognition showcases the significant strides Qatar has made in creating a favourable business environment and efficient governance. The nation's commitment to maintaining top positions in key economic indicators is evident in these latest rankings.
Qatar's strong showing across multiple factors in the World Competitiveness Booklet demonstrates its robust economic framework and efficient governance. These rankings serve as a clear indicator of the country's ongoing progress and potential for future growth.
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