Saudi Arabia ranks 17th in international competitiveness

September 7, 2011

Saudi Arabia has risen to the 17th position in the World Economic Forum’s 2011 ranking of international competitiveness, according to a report issued in Geneva today. The Global Competitiveness Report evaluates key economic indicators, including capital strength, growth rate, labor market, infrastructure and education levels, of 142 countries in order to assess their business environments. Last year, the Kingdom was ranked in 21st place.

“This is a testament to the initiatives King Abdullah has undertaken to ensure that Saudi Arabia is a leader in the global economy,” said Saudi Ambassador to the United States Adel bin Ahmed Al-Jubeir. “It is clear that King Abdullah’s commitment to diversify and privatize the Saudi economy is working.”