Saudi Arabia ranked first in the world for growth of exports of commercial services

Saudi Arabia has been ranked first in the world in the growth of exports of commercial services, the first in the growth of the Manpower, and the first as the highest rate of expenditure in education according to the book of the annual report of the Global Competitiveness of 2017. This book has been issued by the Global Competitiveness Center of the International Institute for Administrative Development in Lausanne, Switzerland, which is one of the most important specialized colleges in the world in this field.

The Kingdom has been ranked first in exports of commercial services after the remarkable growth in services (transport, travel, construction, banking, insurance, financial services, use of intellectual property rights, telecommunications and information services), which achieved a growth rate of 15.43%.

Saudi Arabia has achieved growth of 7.93 %, manpower made it the top, and investment in education grew by 8.84 %.

In its first Global Competitiveness Report, Saudi Arabia topped nine countries in the G-20 countries ahead of Indonesia, Italy, India, Russia, Turkey, Mexico, South Africa, Argentina and Brazil, and has been ranked 36th among the world’s most competitive countries out of 63 countries.

It also has been ranked fifth in the world in broadband subscribers’ area and sixth in foreign exchange reserves and sixth in the foreign exchange reserve per capita.

At the level of areas and indicators, the Kingdom has been ranked 21st in the economic performance axis. In terms of government efficiency, it has been ranked 31st, in business efficiency ranked 38th, and in infrastructure, the Kingdom has been ranked 44th.

The International Institute for Administrative Development (IDI) publishes the Global Competitiveness Yearbook, based in Lausanne, Switzerland. The report measures the competitiveness of countries across four main areas: economic performance, government efficiency, efficiency of the business and infrastructure environment. The 346 sub-indices include the various aspects and factors affecting these areas.

The methodology of the report is based on the views of businessmen (33.3%), statistical data (66.7%) serving 346 indicators, the first World Competitiveness Yearbook, 1989, which is one of the most important global competitiveness reports. The report assesses states as efficient in managing their resources for the prosperity of their people.

Worth mentioning, The World Competitiveness Yearbook Report is an important reference for many other international institutions that rely on this report to conduct their studies and publish their reports. It is also considered by many academic institutions as an important benchmark for identifying international best practices.

Two other reports on competitiveness are issued; the first is made by the World Bank to measure business performance and the second by the Global Competitiveness Index of the Global Competitiveness Forum.

Source: www.aleqt.com

Source: www.aleqt.com

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