Saudi Arabia advances to 17th place in World Competitiveness 2023

Riyadh city

The Kingdom of Saudi Arabia advanced seven places in the IMD World Competitiveness Ranking 2023, issued by the World Competitiveness Center of the International Institute for Management Development (IMD), to reach 17th place globally from 24th in 2022.

The report showed that the Kingdom ranked third among the G20 countries, surpassing countries with advanced economies, such as South Korea, France, Japan, Italy, India, Argentina, Indonesia, Mexico, Brazil and Turkey.

The Kingdom recorded remarkable progress in three main areas of the report, as shown in the following table:

The report aims to analyze the ability of countries to create, maintain and develop a supportive and stimulating environment for competitiveness.

Meanwhile, the World Competitiveness report is one of the most comprehensive ones on the competitiveness of countries, as it compares 64 countries based on four main pillars: economic performance, government efficiency, business efficiency, and infrastructure.

The following table shows the ranking of the top 20 countries in the Global Competitiveness Index (GCI):