Overview
The Global Competitiveness Index (GCI), published by the World Economic Forum, evaluates 141 economies across twelve pillars including institutions, infrastructure, macroeconomic stability, health, skills, product markets, labour markets, financial systems, market size, business dynamism, and innovation capability. It remains one of the most widely cited benchmarks for assessing a country’s productive potential and policy environment.
Oman’s Position
Oman has historically ranked in the upper-middle tier of the GCI, typically placing between 50th and 65th globally. The Sultanate scores well on macroeconomic stability, institutional quality, and ICT adoption. Infrastructure – particularly road quality and port connectivity – has been a consistent strength. However, Oman faces challenges in market size, innovation ecosystem depth, and business dynamism, reflecting the structural constraints of a small, resource-dependent economy.
Regional Comparison
Among GCC nations, Oman generally trails the UAE (which consistently ranks in the global top 30) and Saudi Arabia, but performs comparably to Bahrain and Kuwait on several pillars. Qatar edges ahead on macroeconomic indicators. Oman’s relative strength lies in institutional governance and security – areas where it often matches or exceeds larger Gulf neighbours.
Trajectory
Since 2015, Oman’s GCI trajectory has been mixed. Improvements in ICT infrastructure and financial system development have been offset by fiscal pressures that constrained public investment. Vision 2040’s emphasis on innovation, skills development, and private-sector growth directly targets the pillars where Oman underperforms. If reform momentum is sustained, a meaningful ranking improvement – into the top 50 – is achievable by 2030.