Qatar has improved its overall index ranking one spot to 11th position and jumped two spots to eighth in the infrastructure/transport category and maintained its grip on second position for business conditions in a logistics industry report.
Qatar leapt past Chile to rank as the number two emerging market for countries with less than $300bn annual GDP.
The business climates, infrastructure and transport connections of leading Gulf economies continue to be the best offered by the world’s emerging markets, according to Agility’s annual global logistics industry report.
“The countries in the region are moving aggressively to spur non-energy economic growth, create jobs, lure new investment, and develop knowledge economies,” says Elias Monem, CEO, Agility Middle East and Africa. “In the Gulf, it’s never been easier to start or buy a business, to commercialise a good idea, to find and hire young talent, and to plug into the global economy.”
The giant, fast-growing economies of China and India continue to dominate the overall emerging markets rankings.
The index, in its ninth year, is a broad gauge of economic competitiveness that includes a survey of more than 500 logistics industry professionals and a data-driven analysis of 50 emerging markets countries by size, economic strength, infrastructure, transport connections and business climate.
Emerging markets growth prospects look brighter than they have in years to logistics industry executives, who say small and medium-sized companies are the most likely to benefit from fresh acceleration of those economies.
Nearly two-thirds surveyed agreed with the International Monetary Fund’s (IMF) 2018 emerging markets forecast of 4.8%-4.9% GDP growth. That would mark the fastest expansion for emerging markets since 2013 and a second consecutive year of higher growth for developing economies, which have slowed dramatically since a 7.4% GDP gain in 2010.
There is no consensus among supply chain professionals when it comes to the Trump administration’s high-stakes brinkmanship with Mexico and Canada in negotiations aimed at updating the North American Free Trade Agreement (Nafta). They are sharply split about whether a new agreement would help Mexico (24.3%); hurt Mexico (21.8%); or leave trade broadly unchanged (25.7%).
Some 55% of those surveyed said small and medium-sized businesses – those with fewer than 250 employees – will benefit most from emerging markets growth, while 26% said large companies would be the biggest beneficiaries.