Qatar has been ranked the third freest country out of 14 countries in the Middle East/North Africa region and 28th globally in a ranking of 184 countries.
This ranking is according to the 2024 edition of the Index of Economic Freedom by The Heritage Foundation, a US think tank based in Washington.
The country’s rating has increased by 0.2 points from last year and its economic freedom score is higher than the world and regional averages.
The top four countries on the index are Singapore with a score of 83.5, Switzerland with 83, Ireland with 82.6 and Taiwan with 80.
Among the GCC countries, Qatar ranks second after the United Arab Emirates, which has been ranked 22nd on the index with a score of 71.1.
Bahrain has been ranked 54th with a score of 63.4, and Oman 56th with 62.9. Saudi Arabia has been placed on the 69th spot with a score of 61.9 and Kuwait in the 90th spot with a score of 58.5.
Qatar has been ranked higher than many advanced countries on the index. The United Kingdom is ranked 30th with a score of 68.6, Japan is ranked 38th with a score of 67.5, Spain 55th with 63.3, and France 62nd with 62.5.
The report said, “Qatar’s economy is considered ‘moderately free’ according to the 2024 Index. It is trying to improve its entrepreneurial environment and broaden its economic base.
“The foundations of economic freedom are relatively solid. The regulatory system is flexible. The country’s open trade regime and growing status as a regional financial hub have encouraged more diversified private-sector growth.
“Procedures for launching a business and completing licensing requirements have been made easier. The labour force consists primarily of expatriate workers, and immigration and employment rules are tightly managed.”
