Saudi Arabia, the United Arab Emirates, and Kuwait—countries in the region—ranked at the top in terms of economic stability according to the Global Competitiveness Report «GCR» for 2018, published by the World Economic Forum «WEF.»

In this context, the Kingdom made the greatest progress on the Global Competitiveness Index, rising to 39th place out of 140 countries worldwide. This represents the Kingdom’s best improvement in the rankings since 2012. The report, which is widely followed by decision-makers, a «perfect score» for confidence in the stability of the Saudi economy, its resilience to external challenges, and its ability to foster opportunities for sustainable growth.

Among the countries in the region, the 2018 Global Report awarded Saudi Arabia, the United Arab Emirates, and Kuwait a «perfect score» on the macroeconomic stability index, with a score of 100%. Among the world’s leading countries to receive this same ranking for macroeconomic stability were Germany, Canada, Denmark, and the United Kingdom. In the Kingdom, public finances generally contribute to protecting the macroeconomy from external shocks and strengthen its resilience to currency fluctuations, thanks to the fiscal position and the absence of significant debt burdens.

For his part, Minister of Commerce and Investment Majid Al-Qasabi stated that «the collaborative effort involving more than 40 government agencies represents one of the most important factors that led to the Kingdom’s improved ranking in the 2018 Global Competitiveness Report.» Saudi Arabia’s ranking was bolstered by its 39th place globally in the "Institutions" category, thanks to its high rankings in sub-indicators such as security and corporate governance.

Saudi Arabia also ranked 22nd globally in public sector performance, ahead of countries such as China, Canada, Australia, and France.