Kuwait ranked 20th in the world out of 197 countries and fourth in the Gulf for the index of the most powerful passports for investment opportunities and ease of doing business in 2023, according to Global Citizen for Foreign and Immigrant Investment Consulting.
The Global Citizen’s Most Powerful Passports for Investment Opportunities Index classifies countries according to business destinations, by assessing the country’s economy and business environment, and provides an overview of its economic strength, investment opportunities, and ease of doing business, reports Al-Qabas daily.
The index is based on three basic pillars:
• Markets and innovations
• Gross national income per capita
• Personal taxes
Kuwait received a total of 68.7 points in the general classification, and a “less favorable” classification in the markets and innovations pillar. The total national income per capita Kuwaiti amounted to about 59 thousand dollars, while personal taxes in the country amounted to zero.
In the Gulf, the UAE topped the rankings at sixth place globally, followed by Qatar in seventh place, and Saudi Arabia in tenth place globally. Bahrain came after Kuwait in 21st place globally, then Oman was last in the Gulf, in 32nd place globally.
Globally, Singapore, Hong Kong, and the United States topped the three places in the classification of the most powerful passports for investment opportunities for the current year, followed by Macau and Monaco in fourth and fifth places, while the Emirates and Qatar came in sixth and seventh places, followed by Switzerland and Canada in eighth and ninth places, and Saudi Arabia came in tenth place.
As for the countries lagging behind the most in the index, Chad was at the bottom of the list at 197th place, preceded by Haiti in 196th place, Congo in 195th place, Mauritania in 194th place, Zimbabwe in 193rd place, Ivory Coast in 192nd place, the Central African Republic in 191st place and Syria in 190th place, Burundi in 189th place and Venezuela in 188th place globally.