Qatar Ranked 28th Globally in 2024 Economic Freedom Index

Qatar, 20 September, 2024 : Qatar has been ranked as the third freest country in the Middle East/North Africa region and 28th globally in the 2024 Index of Economic Freedom by The Heritage Foundation, a US think tank. The country’s score increased by 0.2 points from last year, reflecting its higher economic freedom compared to global and regional averages.

In the index, Qatar follows Singapore, Switzerland, Ireland, and Taiwan. Among GCC countries, it ranks second after the United Arab Emirates, which is 22nd. Bahrain is ranked 54th, Oman 56th, Saudi Arabia 69th, and Kuwait 90th.

The report describes Qatar’s economy as "moderately free," highlighting efforts to improve the entrepreneurial environment and diversify the economic base. Key strengths include a flexible regulatory system, an open trade regime, and a growing status as a regional financial hub.

Qatar scored 68.8 on the index, significantly above the world average of 58.6. It ranks well on Property Rights (70.4), Tax Burden (99.7), Government Spending (74), and Fiscal Health (96.4). Notably, both the top individual and corporate tax rates are 0%.

The report emphasizes Qatar’s commitment to maintaining a stable regulatory environment and fostering competitiveness through openness to global trade and investment.

Source : www.zawya.com