Riyadh: Data issued by the Gulf Cooperation Council (GCC) Statistical Centre revealed that the GCC countries continued to bolster their performance in the 2026 Economic Freedom Index, recording a clear superiority over the global average-an indicator reflecting the strength of economic openness and the improved business environment in the region. According to Saudi Press Agency, the average Economic Freedom Index for the GCC countries reached 66.9 points, surpassing the global average of 59.9 points by a margin of nearly seven points, reflecting a higher level of economic openness compared to the international rate. The data indicates that all GCC countries witnessed improvement or stability in their index values between 2025 and 2026, with limited variation in performance levels among the states, demonstrating the continuity of economic reforms and growth-supporting policies. On the Arab level, the GCC countries ranked within the top seven positions, reinforcing their status as the most open economies in the region. An increase in the index value (which ranges from 0 to 100) signifies a freer and more open economy, as countries are classified into categories starting from 'Repressed' to 'Free.' The index relies on four main pillars: Rule of Law, Government Size, Regulatory Efficiency, and Market Openness. It is calculated through 12 sub-indicators and covers 184 countries worldwide. The improvement in the Economic Freedom Index also contributes to attracting foreign investments, stimulating economic growth, creating job opportunities, enhancing competitiveness, and improving individual well-being, as well as reducing corruption and stabilizing financial markets. This progress reflects the success of the economic policies and structural reforms pursued by the region's countries, confirming their ability to foster an attractive investment environment and achieve sustainable economic growth aligned with international best practices.
Sunday, May 03, 2026