Saudi Arabia is World’s 18th most competitive country

Saudi Arabia maintains the second-best place in the region and falls by one position from 17th to 18th position overall in “The Global Competitiveness Report 2012-2013” by the World Economic Forum released Wednesday .

The country has seen a number of improvements to its competitiveness in recent years that have resulted in a solid institutional framework, efficient markets, and sophisticated businesses.

Qatar leads the way in the Middle East region, at number 11, UAE at number 24. Other Arab countries which also accelerated in the rankings this year include Bahrain which moved up two places and Jordan which moved seven places to rank 64.

Morocco at number 70 and Jordan at 63rd improved slightly. Egypt saw a decrease of 13 places to 107.

Higher macroeconomic stability (sixth) and more prevalent use of ICT for productivity improvements contribute to maintaining Saudi Arabia’s strong position in the GCI( Global Competitiveness Index)

riyadhconnect, Sep 7, 2012