Qatar was recently named as the most competitive economy across the Middle East in a new IMD World Competitiveness Index.
Qatar kept its spot on the world table at No. 13, which made it the highest nation in the Middle East in the rankings this year. It became No. 1 in the region after the United Arab Emirates dropped three spots to 15th from 12th.
Other nations in the Middle East on the list include Israel at No. 21, Turkey at No. 38 and Jordan at No. 52.
Qatar, which became rich as a country thanks to huge natural gas reserves, is currently in a phase of massive development much of which is linked to it being the host of the 2022 World Cup.
The Secretary General of the Committee for Delivery and Legacy for Qatar 2022 said recently in London that between $150 billion and $200 billion is being spent for developments related to infrastructure in Qatar, with between $8 billion and $10 billion used to build soccer stadiums.
These rankings have been produced by IMD a business school in Switzerland for 25 years and rank 61 economies across the globe.
The ranking has 340 criteria that they are judged on related to economic performance, business efficiency, government efficiency and infrastructure, along with a survey filled out by over 5,400 executives in the business world.
The top of the index is dominated by economies in Europe with six of the first ten places, while the other four in the top ten include Canada, Singapore, Hong Kong and the U.S.
Other major economies in the Middle East including Iran, Egypt and Saudi Arabia are not part of the rankings.
Economic growth at a quick pace is in itself not enough to give a country a push up the table. Countries are different as China along with Qatar fare much better on economic performance, but both remain weaker in other areas like infrastructure and government efficiency.
The index from the IMD is only one of a number of indicators of competitiveness and the recently released results differ in a few significant ways than other well respected indices.
For example, the Ease of Doing Business from the World Bank has UAE leading the Middle East region at No. 31 overall, followed by Israel at No. 53, Turkey No. 55, Bahrain No. 65 and Qatar No. 68.
Other indices have Israel leading the region and No. 22 globally, followed by Cyprus, the UAE, Saudi Arabia and Qatar.