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Gulf Nations Rank Among the Most Competitive Economies 2024

  • Publish date: Monday، 24 June 2024
Gulf Nations Rank Among the Most Competitive Economies 2024

The UAE has once again proven its economic strength by ranking high in the 2024 World Competitiveness Rankings, released this June by IMD. The ranking evaluates 67 global economies based on factors such as infrastructure, institutional efficiency, and innovative policies. The UAE stands out as the top performer in the Middle East.

Read More: Dubai Ranked as Fifth Best City in the World

Read More: UAE Ranks First in Employment of Indians

Gulf Nations Rank Among the Most Competitive Economies 2024

Qatar, Saudi Arabia, and Bahrain Follow

Following the UAE, Qatar secured the 11th spot, showcasing its ongoing efforts to boost economic performance. Saudi Arabia came in 16th, highlighting its commitment to diversifying its economy. Bahrain also made a strong showing, ranking 21st, which underscores its focus on sustainable growth and development.

New Entries and Overall Scope

This year's rankings included new entries like Ghana, Nigeria, and Puerto Rico, expanding the global perspective on economic competitiveness.

Gulf Nations Rank Among the Most Competitive Economies 2024

Competitive Edge

The rankings emphasize that economic success isn't just about high GDP or productivity. Efficient infrastructure, strong institutions, and forward-thinking policies play crucial roles.

The Gulf countries have effectively utilized these elements to enhance their global competitiveness, setting benchmarks for others to follow.

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