Qatar ranked (17) out of (63) mostly high income countries in the International Institute for Management Development (IMD) World Competitiveness Yearbook 2017. This year’s assessment confirms Qatar’s strong performance across multiple fronts. The assessment is based on a range of statistical indicators and on opinions polled among local business leaders, giving a rounded view of the economy’s competitive position.
Areas where Qatar ranked highly in the report included: economic performance (8), government efficiency (11) and business efficiency (12). Scope for improvement was identified in some areas, including infrastructure (38). This ranking has been positively influenced by a number of factors including: strong economic performance as represented by, Qatar’s low unemployment rate, and the high percentage of gross fixed capital formation of GDP, high percentage of gross domestic saving of GDP, balance of trade of GDP, and high of overall productivity.
However, there were some areas where the report highlights some factors that led to the decline in the overall ranking by four points from last year. These include export concentration by product and partner, limited direct inward investment flows, low high-tech exports, low share of renewables in total energy requirements and number of procedures to start a business.
The assessment of Qatar’s competitiveness in IMD World Competitiveness Yearbook 2017 is a collaborative effort of IMD and the Ministry of Development Planning and Statistics. The State of Qatar has been contributed to the IMD Competitiveness Yearbook for the 10th time.
His Excellency the Minister of Development Planning & Statistics, Dr. Saleh Bin Mohammed Al Nabit, welcomed the findings of the report, stating that, “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”. He added that, “Qatar’s National Development Strategy sets out clear goals in the areas of business regulation, economic infrastructure and private sector development that will lead to future advances. 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 redouble our efforts and improve further. The IMD findings will be carefully studied and, along with other indicators, will help us sharpen our efforts to bolster our economy further”.