Qatar boasts of being the second most competitive economy in the region
If one thought the illegal siege of Qatar had put a dampener on Qatar’s economy, then think again.
Far from being bogged down by uncertainties, Qatar’s economy has thrived and is now the second most competitive in the entire Arab region, reported Gulf Times.
The Global Competitiveness Report 2018, compiled by the World Economic Forum (WEF) in collaboration with Qatari Businessmen Association and the Institute of Social and Economic Research of the University of Qatar, also ranks Qatar as the 30th most competitive economy in the world.
The high ranking shows that Qatar is progressing correctly and is on track to become one of the 10 best economies in the world within the next 10 years.
The report said that Qatar had been ranked first among the top 10 global economies in 14 indicators. In the institutional category, Qatar ranked ninth globally in the ‘Efficiency of legal framework in challenging regulations’ indicator and ranked eighth in the ‘Future orientation of the government.’
Qatar was seventh in the Internet users indicator and the spread of high-speed Internet services (broadband).
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 WEF’s annual report shows that Qatar has improved its ranking by two places from last year’s list.
