Qatar Tops Global Rankings in Corporate Board Effectiveness: IMD 2024 Report

Qatar, 22 June, 2024 : In the 2024 World Competitiveness Booklet by the IMD in Switzerland, Qatar has achieved top rankings across various global indices. According to the report, Qatar ranks first globally in the effectiveness of corporate boards and migrant stock. It also secures second place globally in the working hours index.

Qatar's economy has shown strength in several key areas. It leads in both consumption tax rate and personal income tax rate under the government efficiency factor. Additionally, the country ranks second in the public finance index and excels in the business efficiency factor of the booklet.

In terms of infrastructure, Qatar emerges as a leader, securing top positions in energy infrastructure and the number of internet users per 1,000 people.

The report positions Qatar 11th out of 67 countries in the latest World Competitiveness Report, marking an improvement from its 12th place ranking last year. Key strengths contributing to Qatar's competitiveness include economic performance, government efficiency, and business efficiency.

The banking sector in Qatar has also seen significant growth, with commercial bank deposits rising by 6.3% to QR1.024tn ($276.7bn) in April. Public sector deposits increased by 11.7% annually, while private sector deposits grew by 4% annually but declined slightly compared to the previous month.

These achievements underscore Qatar's commitment to excellence and its ongoing efforts to enhance global competitiveness across various sectors.

Source : www.zawya.com