The World Economic Forum has just published in collaboration with the European Bank for Reconstruction and Development (EBRD) the “Arab World Competitiveness Report 2013”. The study analyses and benchmarks countries’ competitiveness in the Arab world.
According to the report the Arab world must improve its economic competitiveness if the region is to solve its biggest economic challenge of creating enough jobs for its youthful and growing population.
The study identifies a number of areas where regional leaders could prioritize reform in order to unlock barriers to job creation and private sector expansion. These barriers differ across the region: with weak institutions and labour markets singled out as the most significant areas for improvement in North Africa; weak infrastructure and institutions in the Levant; and a pervasive education and innovation gap in countries in the Gulf.
The report also finds that leaders in the Arab world who embrace the challenge of lifting competitiveness and enabling private sector growth could look forward to a “win-win” scenario, characterized by higher employment and greater social stability.
Read the full report here.