Oman ranks 11 in global entrepreneurship index

Oman ranks 11 in global entrepreneurship index

The Sultanate of Oman has achieved a qualitative leap in the entrepreneurship index to be ranked 11th out of 49 countries participating in the Global Entrepreneurship Monitor (GEM) report for the year 2023-2024.

The post Oman ranks 11 in global entrepreneurship index appeared first on The Arabian Stories News.MUSCAT : “After a two-year decline amid the COVID-19 pandemic, Oman’s entrepreneurial environment quality, measured by the National Entrepreneurial Context Index (NECI) score, is now sharply improving,” states the report, pointing out that 2023 saw this score bounce back strongly, rising to 5.4 and placing Oman 11th among 49 participating GEM economies.

The rank in 2022 was just 38th out of 50.GEM report further highlights the growing entrepreneurial landscape in Oman. It states: “Entrepreneurship has a high profile in Oman, with three out of five adults knowing someone who had recently started their own business, two out of three seeing good opportunities to start their own business, and seven out of 10 considering themselves to have the skills and experience to start their own business.“Fear of failure is relatively low, with just two out of five who see good opportunities reporting that they would not start a business for fear it might fail. Many