The latest Swiss-based IMD World Competitiveness Ranking showcases GCC countries’ growing business efficiency and infrastructure development, with the UAE leading the charge. It highlights the region’s focus on fostering a business-friendly environment and economic diversification.

The UAE jumped three spots to claim the seventh position in the annual global ranking of the world’s most competitive countries and regions. 

The IMD survey lauded the UAE for its business-friendly environment, dynamic economy, robust infrastructure, and competitive tax system. 

The Emirates ranked second globally for economic performance, trailing only the US. It also secured fourth and tenth places in government and business efficiency, respectively.

Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, attributed the achievement to all teams in the government, economic, and development sectors that work tirelessly to advance the UAE.

The positive momentum extended to Qatar, which climbed to 11th place, with top-10 global rankings in over 90 sub-indicators. 

The nation excelled in industrial disputes, labor force, employment, and household consumption. The report highlighted Qatar’s impressive performance across all four key factors (economic performance, government efficiency, business efficiency, and infrastructure), ranking it 4th, 7th, 11th, and 33rd, respectively.

Saudi Arabia’s commitment to economic diversification paid off, propelling the country to 16th place. This advancement places them above several G20 peers, such as India, the UK, Japan, and other major economies. 

Saudi Arabia’s Minister of Commerce, Majid bin Abdullah Al-Qasabi, attributed the nation’s rise to the ongoing economic transformation.