*Qatar placed 14th globally in competitiveness
Qatar has achieved sixth rank among 63 mostly high-income countries, in economic performance in 2020, which showed its resilience. It is expected to be one of the first to rebound from the present crises, according to The World Competitiveness Yearbook 2020.
Overall, Qatar was ranked 14th globally in competitiveness and its performance was better than that of Luxembourg (ranked 15), Austria (16), Germany (17), Australia (18), the UK (19) and China (20). It is one among the Gulf countries to come at the top 20, said the report, which is published by Switzerland-based International Institute for Management Development (IMD).
The results confirm Qatar’s strong performance
across various fields. The ranking was based
on national statistics as well as opinions of sample
businesses managers who provided their views
of Qatar’s economy competitive climate
The Gulf country was ranked first in terms of low unemployment rate; high proportion of gross fixed capital formation, capital investments, and saving to gross domestic product or GDP; high percentage of trade balance to GDP; and high overall productivity.
Other areas where Doha performed well, included government efficiency (rank 7) and business efficiency (rank 11). Moreover, Qatar maintained its ranking at 40 for infrastructure.
“These results confirm the solid overall performance and that the results will certainly help us to identify areas for further improvements,” Dr Saleh bin Mohamed al-Nabit, president of Planning and Statistics Authority (PSA), said.
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, according to him.
The results confirm Qatar’s strong performance across various fields. The ranking was based on national statistics as well as opinions of sample businesses managers who provided their views of Qatar’s economy competitive climate, PSA said.
Qatar’s competitiveness assessment in IMD World Competitiveness Yearbook 2020 is a collaborative effort between IMD and PSA. Qatar has contributed to the IMD Competitiveness Yearbook for the 12th time.
"Landing itself an impressive 14th place globally, Qatar has proven to be impressively resilient to crises," Christos Cabolis, chief economist, IMD World Competitiveness Center, said, adding this is a sign of a crisis resilient economy, especially in the face of a global downturn.
"We expect Qatar to be one of the first to rebound from the current global situation,” he said.
Long-term indicators as health, education and business finance continued to improve in line with Qatar’s long-term trajectory, he added.