The Kingdom ranked first in several important indicators, including long-term employment growth, social cohesion, labor market growth, and cybersecurity.
The Kingdom of Saudi Arabia advanced to16th place globally Among 67 countries in the 2024 Global Competitiveness Ranking, according to a report Competitiveness Yearbook issued by the Global Competitiveness Center of the International Institute for Management Development (IMD).
This progress came thanks to improvements in business and infrastructure legislation, making Saudi Arabia ranked fourth among the G20 countries.
This progress is the Kingdom’s third in a row in the Global Competitiveness Yearbook Report, as it ranked 17th globally last year, and 24th in 2022.
It also advanced in the business efficiency axis from 13th to 12th, maintained its 34th rank in the infrastructure axis, and continued to rank in the top 20 in economic performance and government efficiency.
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This report is considered one of the main reports that it follows and analyses National Center for Competitiveness In coordination with relevant government agencies.
The Minister of Commerce and Chairman of the Board of Directors of the National Competitiveness Center, Dr. Majid bin Abdullah Al-Qasabi, indicated that these results reflect the process of economic transformation adopted by the Kingdom’s government. Economic reforms contributed to the Kingdom achieving advanced ranks in 24 indicators, including first place globally in indicators such as employment growth over the long term. Remoteness, social cohesion, labor market growth, and cybersecurity.
It also achieved second place globally in indicators including digital transformation in companies, availability of venture capital, and technical development, and ranked third globally in indicators such as trade exchange and the economy’s ability to withstand.
The statistical data provided by the General Authority for Statistics is one of the tools that help measure the performance of the Saudi economy, while the National Competitiveness Center, in cooperation with government agencies, continues to develop reforms that affect the competitive environment.
The Global Competitiveness Yearbook report, which is issued by the Global Competitiveness Center of the International Institute for Administrative Development in Lausanne, Switzerland, is one of the important reports that international organizations and institutions rely on to evaluate the competitiveness of countries on the basis of four main axes and 20 sub-axes, in addition to 335 sub-indicators.
