Beirut Is 117th Most Competitive City In The World
The Economist Intelligence Unit ranked Beirut in 117th place among 120 cities globally and in 10th place among 11 cities in the Middle East and North Africa on its Global City Competitiveness Index. Beirut also ranked last among 9 Arab cities included on the index, as reported by Lebanon This Week, Byblos Bank economic publication.
The index ranks 120 cities according to their demonstrated ability to attract capital, businesses, talent and visitors. It compares 120 of the world's major urban agglomerations using 21 qualitative and 10 quantitative indicators that are grouped under eight categories. The index is a weighted average of the eight cat- egories that are Economic Strength, Institutional Effectiveness, Human Capital, Physical Capital, Financial Maturity, Global Appeal, Social & Cultural Character, and Environment & Natural Hazards. The EIU selected the 120 cities on the basis of their size and regional economic importance.
Globally, Beirut ranked ahead of Dhaka in Bangladesh, Lagos and Tehran, and came immediately behind Alexandria, Nairobi in Kenya and Bandung in Indonesia. Beirut received a score of 30.6 points, lower than the global average of 50 points, the MENA average of 42.1 points and the Arab cities average of 43 points.
Beirut tied with Rome, ranked ahead of Geneva and Saint Petersburg, and came behind Lagos and Bandung on the Economic Strength sub-category, which emphasizes a city's overall GDP, growth rate and relative income. Beirut ranked in last place among Arab cities and ahead of only Tehran among cities in the MENA region. Also, Beirut ranked ahead of Nairobi and Almaty in Kazakhstan, and came behind Riyadh and Saint Petersburg on the Institutional Effectiveness sub-category, which examines indicators that encourage stability of regulations, predictability and fairness of political processes, and effectiveness of the system. Beirut came ahead of Alexandria and Cairo, and behind Riyadh and Kuwait City in the Arab world.
Further, Beirut ranked ahead of Istanbul and Colombo and came behind Porto Alegre in Brazil and Panama City on the Human Capital sub-category. It also ranked ahead Cairo and Alexandria and behind Kuwait City and Muscat among Arab cities. In addition, Beirut tied with India's Chennai, Hyderabad and Kolkata, ranked ahead of Bangalore in India and Bandung and behind Kiev and Porto Alegre on the Physical Capital sub-category, which reflects the availability of and access to developed and efficient infrastructure. Beirut ranked in last place among Arab cities and ahead of Tehran among cities in the MENA region.
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