Qatar gains 22nd position in 2018 Global Entrepreneurship Index

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Qatar gained a highest position among its GCC neighbouring countries in the 2018 Global Entrepreneurship Index. The index, which measures both the quality of entrepreneurship and the extent and depth of the supporting entrepreneurial ecosystem, ranked Qatar at 22nd position out of the total 137 countries ranked. With a score of 55 percent, Qatar has outperformed its neighbours in ranking as well as in the score. The United Arab Emirates was in the 26th place with a score of 53 percent while Oman was in the 33rd position with a score of 46.9 percent.

The MENA region shows greatest strength in the areas of Product Innovation and Risk Capital, said the report. The report further added that the region is bringing new products to market and integrating new technology, while also providing the capital to help businesses grow. The region’s lowest average scores are in the areas of Competition and Risk Acceptance, as large firms dominate many economies in the region and businesses face higher risks in many MENA countries than in other areas.

Open economies that have embraced global trade and created attractive investment climates score near the top of the region, while countries that have seen economic and political instability rank nearer the bottom, added report.

Bahrain with a score of 45.1 percent, was ranked 35th while Kuwait was on the 39th place with a 42.8 percent. Saudi Arabia, had to be content with 45th rank in the index and was on the last place in the GCC region with a score of 40.2 percent. Only Israel, with a score of 65% was above Qatar among MENA countries.

The Global Entrepreneurship Index covers 14 components (14 pillars as per the study) of the entrepreneurship ecosystem. Qatar’s strongest areas were high growth, risk capital, human capital, product innovation and opportunity startup in the report, while the country’s weakest area pointed by the report was startup skills.

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