Kuwait ranked 20th globally out of 197 countries, and 4th in the Gulf in the index of the strongest passports for investment opportunities and ease of doing business in 2023, according to Global Citizen, a foreign and immigrant investment consulting company, reported Al-Rai Daily.
The Global Citizen’s Most Powerful Passports for Investment Opportunities Index classifies countries by assessing the country’s economy, analyzing the business destinations, and business environment, and provides an overview of its economic strength, investment opportunities, and ease of doing business.
The index is based on three basic aspects:
- Markets and innovations.
- Gross national income per capita.
- Personal taxes.
Kuwait received a total of 68.7 points in the general classification. The total national income per capita in Kuwait amounted to about $59,000, while personal taxes in the country amounted to zero.
UAE topped the rankings in the Gulf and secured 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, and at 32nd place globally.
Globally, Singapore, Hong Kong, and the United States ranked the highest 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 place. 190th place, Burundi in 189th place and Venezuela in 188th place globally.