Idle competitiveness

Report says major setbacks for doing business: volatility, corruption

September 7, 2011- Lebanon ranked 89th among 142 countries in terms of competitiveness in the World Economic Forum’s ‘2011-2012 Global Competitiveness Report’. The competitiveness ranking measures the ability of a country and its enterprises to compete in global markets.

Lebanon’s ranking was practically unchanged from last year when it ranked in the 92nd place out of 139 economies included in the study.

The country’s ranking this year is ahead of Egypt (94th place), Syria (98th), and Yemen (138), but behind most other Arab countries. The highest ranked Arab country was Qatar at 14th place, followed by Saudi Arabia at 17th.

According to the report figures, Lebanon scores highly in assessments of health and primary education, financial market development, goods market efficiency, and the quality of local enterprises. The lowest scores are seen in macroeconomic stability and infrastructure.

The major setbacks for doing business in the country were, according to the report, government instability, inadequate supply of infrastructure, inefficient government bureaucracy, and corruption.

The report is presented in Lebanon through a partnership between the World Economic Forum and Bader Young Entrepreneurs Program.