Kuwait Is Not Attractive Destination For Investments

Kuwait’s low rank among countries regarded as the best destinations for foreigners may not be important for many people, considering it has become an unattractive country because of the decisions taken by those in power, reports Al-Seyassah daily.Despite the fact that loud voices continue to criticize Kuwait for lagging behind its neighbors in terms of development, no concrete step has been taken to attract foreign investments particularly since the country occupied the last position in this field in 2009.

According to HSBC, Kuwait is the 34th among 39 countries considered the best destinations for foreigners with Singapore on top of the list due to its stable economy, good quality of life and excellent job opportunities.

Countries on the list were assessed based on three domains: First is the economy (financial status, local economy and work environment) in which Kuwait ranked 22nd and other GCC countries landed on higher spots like the United Arab Emirates (UAE) that ranked fourth, Qatar is fifth and Bahrain is eighth.

Second is lifestyle in which Kuwait ranked 39th while the third and most important is family life (education, learning and family relationship) in which Kuwait also ranked 39th. Meanwhile, New Zealand ranked second followed by Sweden, Oman and Germany for the three domains while Switzerland took the first position in terms of the economy.

On the work conditions, Oman, Qatar and the UAE are the best in the Middle East as they provide foreigners with health insurance, annual travel tickets to home countries and better accommodation allowances. On lifestyle, New Zealand ranked first followed by Spain; while for the family life, Sweden is considered the best destination

 

SOURCE: ARABTIMES

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