Qatar moved up to the 11th rank from the 12th rank last year in the World Competitiveness Yearbook 2024, published by the International Institute for Management Development (IMD) in Switzerland. The World Competitiveness Yearbook comprises 67 countries, the majority of which are developed countries.
In the study, Qatar placed highly in the four primary categories of economic performance (fourth), infrastructure (thirty-third), business efficiency (eleventh), and government efficiency (seventh).
The evaluation of competitiveness was based on the trends observed in an extensive collection of data and indicators supplied locally, as well as the findings of a survey conducted among a representative group of company managers and business executives regarding the business climate and the competitiveness of the Qatari economy. Also, the data and indicators were compared with those from other reviewed nations.
Outstanding performance over a wide range of subfactors falling under the four previously mentioned categories significantly impacted Qatar's position. The terms of trade index, in which the nation placed first internationally, the unemployment rate, and the young unemployment rate were the most notable statistics under the economic performance category.
The Qatari economy placed first in the government efficiency factor for both the personal income tax and consumption tax rates, and second in the public finance index. Regarding the business efficiency element, Qatar placed in first position worldwide in the working hours index and first place globally in the efficacy of corporate boards and the migrant stock.
