GCC states in Top 15 in 50-country Emerging Markets rankings for logistics
GCC countries again dominated the business fundamentals rankings, which compare the legal, regulatory and tax frameworks of emerging markets countries. This is according to the 50-country annual Agility Emerging Markets Logistics Index, compiled by Transport Intelligence (TI), an analysis and research firm for the logistics industry. In the MENA, the overall rankings were: UAE (3); Saudi Arabia (6); Qatar (7); Turkey (11); Oman (12); Bahrain (14); Kuwait (15); Jordan (16); Morocco (20); Egypt (21); Tunisia (32); Lebanon (33); Iran (36); Algeria (41); Libya (50).
UAE was ranked at 3 behind China and India while Saudi Arabia was ranked 6 behind. Both countries, however, were in the top 10 in all four categories: domestic logistics, international logistics, business fundamentals and digital readiness. Qatar was in the top 10 in all categories except international logistics, where it was at 19. Among the six GCC economies, Kuwait (No. 15 overall) did most to improve its competitiveness, gaining ground in every category. In digital readiness, Oman, up five spots to No. 10, and Bahrain, up six to No. 16, made the biggest strides among GCC countries.
Global supply chain executives say innovation and help for small businesses will do the most to drive non-oil economic growth for Gulf economies, which outperformed most others in this year’s index.
In the survey, industry executives were asked to name the most important drivers of economic diversification for GCC countries, all of which are trying to reduce dependence on oil and gas by accelerating private-sector growth. Respondents identified the key factors as tech development and innovation; small business environment; infrastructure development; regional and global integration; business conditions for multi-nationals; a skilled labor force; ending energy subsidies; and creating career opportunities for women.
The Index and a survey of 750 global logistics industry executives comprise Agility’s 14th annual snapshot of industry sentiment and ranking of the world’s leading emerging markets in logistics. The Index ranks countries for overall competitiveness based on factors that make them attractive to logistics providers, freight forwarders, air and ocean carriers, distributors and investors.