Saudi Arabia ranks 1st globally in four entrepreneurship indicators

By Arya M Nair, Intern Reporter
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Saudi Arabia has achieved unprecedented global success in four international sub-indicators in the field of entrepreneurship this year, according to the National Center for Performance Measurement (Adaa).

Adaa measures the variable levels of stimulating entrepreneurship and its activity internationally and the success is in addition to achieving advanced positions in six other indicators, according to the Global Entrepreneurship Monitor Report (GEM). 

The Kingdom’s advancements included top positions at “Availability of good opportunities to start a business” and “Ease of starting a business”, “Entrepreneurs’ response to the pandemic” and “The Kingdom’s government response to the pandemic” indicators.

The efforts, great incentives, and various facilities provided by the country’s leadership to support entrepreneurs are credited to the Kingdom’s Vision 2030, which pays special attention to supporting the Kingdom’s male and female entrepreneurs to contribute constructively to the country’s future.

The government’s support for the Ministry of Commerce’s efforts helped the Kingdom rank among the top countries in the world for entrepreneurship, as these efforts aided in overcoming the difficulties and challenges posed by the COVID-19, and reduced the pandemic’s impact on the business sector.

Saudi Arabia ranked third out of 42 countries in indicators such as individual skills and knowledge, infrastructure, ease of obtaining financing for companies and entrepreneurs, and ease of entry and market dynamics, where the latter measures the extent to which countries have free, open, and growing markets, and outperformed 45 countries by ranking fourth globally in “Government Support for Business” and “Barriers to Entry” indicators.

The International Performance Platform also provides a comprehensive overview of the Kingdom’s performance across more than 700 global indicators. Adaa is keen to monitor the Kingdom’s progress and performance which compares it with more than 217 countries in the world, enabling decision-makers to develop performance and global competitiveness.

Related: Saudi Arabia is all set to welcome the world to its pavilion at Expo 2020

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