Qatar has just been recognized as the leader in MENA EIU business environment according to a recent report by the Economist Intelligence Unit (EIU). This improvement calling all entrepreneurs and investors with an eye on the Middle East.
EIU Business Environment Rankings Report
The EIU’s Business Environment Rankings report analyzes how different countries are improving their business landscapes over a 4 year period.
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In this latest edition, Qatar boasts a massive 0.93 point improvement in its business environment score between 2019-2023 and 2024-2028. This jump not only makes Qatar the top improver in the MENA region but also ranks them as the fifth most improved country globally.
The report highlights financing as the category witnessing the most significant improvement in Qatar. This suggests a more supportive environment for businesses to access the capital they need to thrive.
The EIU’s business environment index is a comprehensive assessment tool. It examines 91 indicators across 11 different categories to provide a complete picture of how attractive a country is for businesses. These categories include factors like political stability, market opportunities, regulations, infrastructure, and technological readiness.
Reasons for Qatar Success:
The report credits Qatar’s strategic investment of $220 billion over the past decade on infrastructure development as a key contributor to the improved business environment. This includes projects like the expansion of Hamad International Airport and upgrades to the road network.
Continued Growth and Diversification
The EIU report predicts that Qatar, alongside India, will experience continued strong growth. This is fueled by anticipated advancements in policies, ongoing investments in infrastructure, and expanding market opportunities.
Diversification is Key:
Qatar’s Minister of Finance emphasizes the country’s commitment to economic diversification. Logistics, ICT (information and communication technology), manufacturing, and tourism are identified as the key sectors driving this diversification, with the financial sector playing a crucial role in enabling this growth.
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Top Ten Geographies by Business Environment Score
Geography | Total score | Rank |
---|---|---|
Singapore | 8.56 | 1 |
Denmark | 8.41 | 2 |
US | 8.40 | 3 |
Germany | 8.35 | 4 |
Switzerland | 8.33 | 5 |
Canada | 8.31 | 6 |
Sweden | 8.29 | 7 |
New Zealand | 8.26 | 8 |
Hong Kong | 8.24 | 9 |
Finland | 8.22 | 10 |
Source: EIU
Conclusion
Overall, this report is a positive sign for Qatar’s evolving business landscape. The country’s dedication to infrastructure development, regulatory reforms, and economic diversification is making it an increasingly attractive location for businesses to invest and flourish.