A new report published by the Switzerland-based International Institute for Management Development (IMD) said that Saudi Arabia ranked as the seventh most competitive economy among G20 countries in the organization’s publication, the World Competitiveness Yearbook 2022.
The World Competitiveness Yearbook assesses and ranks 63 economies based on economic wellbeing and survey responses from executives. Saudi Arabia’s ranking in the publication places it ahead of Japan, India, and France.
Saudi Arabia moved up 8 places in the 2022 rankings from the 2021 publication.
“Our positive performance in the World Competitiveness Yearbook 2022 and other similar reputable global benchmarks reflects our robust economic performance. Our standing is the result of Vision 2030’s efficient and effective whole-of-government approach to reform that has enhanced the Kingdom’s global competitiveness,” the official Saudi Press Agency reported Saudi’s Minister of Commerce Dr. Majid Al-Qassabi as saying.
