Jordan gets better ranking in IMD report

AMMAN –– Jordan moved up three places from 56th to 53rd out of 60 economies ranked in the latest world competitiveness report by a Swiss business school.

The International Institute for Management Development (IMD) on Thursday released its 2014 World Competitiveness Yearbook Ranking, based on a survey of 4, 300 international executives. 

Jordan was among three regional countries included in the ranking, with the United Arab Emirates, which came in the 8th place, and Qatar, which ranked 19th. 

The US retained top worldwide spot in the 2014 ranking, followed by Switzerland, Singapore, Hong Kong and Sweden. 

Executives surveyed in the report had a better ranking for Jordan's image abroad that encourages business development as Jordan's economy came in the 31st spot scoring 6.03 out of 10, the report indicated. 

In general, there is a strong correlation between a country's overall competitiveness ranking and its international image as a place to do business, the study said. 

The IMD noted that most big emerging markets had slid in the 2014 rankings due to slowing economic growth and foreign investment, and continuing problems with inadequate infrastructure. 

"China [down 2 places to 23] falls partly owing to concerns about its business environment, while India [down by 4 to 44] and Brazil [down by 3 to 54] suffer from inefficient labour markets and ineffective business management," the IMD pointed out in a statement. 

Turkey (down by 3 to 40), Mexico (down by 9 to 41), the Philippines (down by 4 to 42) and Peru (down by 7 to 50) also fell.