Qatar has retained its title as the region’s most competitive economy in this year’s Global Competitiveness Report 2012-2013, released yesterday by the World Economic Forum.

This year Qatar ranks 11th in the world, up three places from last year. 

Switzerland tops the rankings for the fourth year running.

Elsewhere in the Gulf region, Saudi Arabia also has a place in the top 20, ranking 18th. The UAE is also up three places at 24th, but Kuwait ranks as the least competitive country in the GCC, at 37th in the world, down three places on last year. 

“Qatar has maintained its position by improvements in its macroeconomic environment, the efficiency of its markets for goods and services, and its institutional framework,” officials from the Qatar Businessmen Association (QBA) and Qatar University have told the Gulf Times. 

However, the report points to difficulty in obtaining finance, inflation, restrictive labour regulations and an inadequately educated workforce as the main barriers to doing business in Qatar. 

Here is more detail from the report about Qatar’s ranking:

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Credit: Photo by Omar Chatriwala