Qatar’s economic freedom score is 70.8, making its economy the 32nd freest in the 2015 Index. Its score has declined by 0.4 point since last year, with improvements in trade freedom and labor freedom outweighed by declines in five of the 10 economic freedoms including freedom from corruption, monetary freedom, and business freedom. Qatar is ranked 3rd out of 15 countries in the Middle East/North Africa region, and its overall score is above the world average.
With vast oil and gas reserves, Qatar enjoys one of the world’s highest standards of living. Efforts to diversify the economy and reduce reliance on the energy sector have been only moderately successful. The oil and gas industries still contribute about half of GDP. Building on open-market policies, the government is trying to position Qatar as a future logistics and financial hub.
Efforts to advance economic freedom have been notable, but momentum has flagged. Respect for the rule of law is tainted by allegations of corruption surrounding a 2022 World Cup bid. The rigid regulatory environment inhibits the growth of small and medium-size enterprises.