Qatar has excelled in the 2024 World Competitiveness Report, ranking 11th out of 67 countries. The country has significantly improved in various global indices, including economic performance, government efficiency, business efficiency, and infrastructure.
Here are some key highlights:
- Economic Performance: Qatar ranked 4th globally in this factor, with notable achievements in unemployment rates, youth unemployment rates, and the terms of trade index, which ranked first globally.
- Government Efficiency: Qatar ranked 7th globally, with notable achievements in consumption tax rates, personal income tax rates, and public finance index.
- Business Efficiency: They ranked 11th, with notable achievements in corporate board effectiveness and migrant stock.
- Infrastructure: Qatar ranked 1st globally in energy infrastructure and internet users per 1,000 people.
These rankings reflect Qatar’s progress in various aspects of economic competitiveness, including economic growth, diversification, and human capital development.
However, the report also highlights some challenges Qatar faces, such as managing a balanced labor mix, enhancing governance structures, and increasing innovation across the country. However, Qatar is geared up to overcome these challenges soon.
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