Saudi Arabia moves up to 24th position in IMD World Competitiveness 2022

Kingdom of Saudi Arabia's flag

Saudi Arabia moved up eight notches to the 24th position as the most competitive economy in 2022, compared to 32nd a year before, according to the World Competitiveness Yearbook 2022, published by the International Institute for Management Development (IMD).

The Kingdom also ranked as the 7th most competitive G20 economy, ahead of its peers, such as South Korea, France, Japan, Italy, India, Argentina, Indonesia, Mexico, Brazil and Turkey.
 

The Kingdom led in four key factors, as follows:

The Kingdom ranked among the world’s top 10 countries in a large number of sub-indicators, most notably adaptability of government policy, digital transformation in companies, long-term workforce growth, public financial management, government public debt, unemployment policies, social cohesion, market capitalization, venture capital, domestic energy production, industrial electricity cost, corporate cyber ​security, government expenditure on education sector, leading thought of corporate managers, entrepreneurial activities and national culture.

The World Competitiveness Yearbook analyzes the ability of countries to create, maintain and develop a supportive and stimulating competitiveness environment. It is one of the most comprehensive reports on countries’ competitiveness, as it compares 63 countries based on four key factors, namely economic performance, government efficiency, business efficiency and infrastructure.