* Qatar improves world ranking in economic performance: IMD Competitiveness Report
Doha has ranked seventh in government efficiency and ninth in economic performance among the 64 developed countries in the World Competitiveness Yearbook 2022, which is published annually by the International Institute for Management Development (IMD) in Switzerland.
The country has been ranked 14th in business efficiency and also improved its ranking in infrastructure to 38th rank.
Overall, Qatar has been ranked 18th among the reviewed countries. In the case of Saudi Arabia, it was ranked 24, the UAE 12 and Bahrain 30.
In economic performance, Doha bettered its performance from 2021 when it was ranked 11. In 2022, Bahrain was ranked 39, Saudi Arabia 31 and the UAE 6.
In government efficiency, Bahrain was ranked 39, Saudi Arabia 19 and the UAE three in 2022 and in business efficiency; their ranks were 24, 16 and 17, respectively, in the review year.
In infrastructure, Bahrain was ranked 39, Saudi Arabia 34 and the UAE 26 in 2022, IMD report said.
The ranking was based on national statistics provided to IMD as well as the result of surveying a sample of businesses manager who provided their views of Qatar’s economy competitive climate.
Qatar’s rank has been "positively" influenced by multitude of factors including strong economic performance as represented by, Qatar’s low unemployment rate (ranked first), government subsidies (ranked first), cyber security (ranked first), high percentages of government budget surplus/deficit (ranked second), gross fixed capital formation (ranked second), international experience (ranked second), entrepreneurship (ranked third), and use of big data and analysis (ranked third).
"Despite a slight decline in Qatar's ranking among the 64 countries, it continues to rank highly thanks to the flexibility of the Qatari economy in overcoming economic crises," said HE Dr Saleh bin Mohamed al-Nabit, President of the Planning and Statistics Authority.
He said Qatar’s consecutive national development strategies, sets out clear goals and interventions in the areas of economic infrastructure and private sector development that will lead to economic and growth, and achieves Qatar National Vision 2030.
The online survey took place from February to May. In 2022, IMD received as many as 6,031 responses from the 63 economies worldwide. The respondents assess the competitiveness issues by answering the questions on a scale of 1 to 6. The average value for each economy is then calculated and converted into a 0 to 1.