Qatar’s strong performance across various fields has helped it rank 10 out of 63 high-income countries, according to the World Competitiveness Yearbook 2019, which is annually published by Switzerland-based the International Institute for Management Development (IMD).
The evaluation is based on a set of statistical indicators collected from different local and international statistical sources, as well as on opinions collected via surveys distributed to more than 200 local business leaders, who provided their views on Qatar’s economy competitive position.
The areas where Qatar ranked high included: economic performance (3), government efficiency (5) and business efficiency (10). Moreover, Qatar has achieved its ranking at (40) for infrastructure.
This ranking has been positively influenced by many factors including strong economic performance, represented by, Doha's low unemployment rate, and the high percentages of gross fixed capital formation (capital investments), and saving to GDP (gross domestic product), of trade balance to GDP, and the high level of overall productivity, as well as high GDP (PPP) per capita and low consumer price inflation.
"These results confirm that our overall performance is solid, and they will certainly help us to identify those areas where we need to consolidate gains and make further improvements,” according to Dr Saleh bin Mohamed al-Nabit, president of the Planning and Statistics Authority.
Highlighting that Qatar’s Second National Development Strategy (2018-22) sets out clear goals in the areas of economic infrastructure and private sector development that will lead to economic and social growth; he said Qatar has no option but to diversify its economy.
"If it is to achieve this, we must continuously work to increase efficiency and productivity and improve our international competitiveness. These results show us where we need to increase our efforts and improve further," he added.