Bahrain Tops Middle East in Economic Freedom, Twelfth Worldwide

Jan 15, 2013, 12:25 ET from Kingdom of Bahrain

MANAMA, Bahrain, Jan. 15, 2013 /PRNewswire-USNewswire/ -- According to the annual index of economic freedom published by the Heritage Foundation and the Wall Street Journal, Bahrain remains the Middle East North Africa (MENA) region's most economically free country.

The Kingdom of Bahrain also ranked 12th out of 177 economies worldwide and is the only MENA country in the top 20.

Hong Kong was ranked first on the list. Singapore, Australia, New Zealand, Switzerland, Canada, Chile, Mauritius, Denmark, and the U.S. were on the top 10 list.

Bahrain had an economic freedom score of 75.5, which is well above the world average.

According to the report, the kingdom's "transition to greater openness, diversification, and modernization is based on strong foundations of economic freedom."

The Kingdom's ranking reflects Bahrain's competitive advantage as a point of entry in the $1 trillion common market of the Gulf Cooperation Council.

SOURCE Kingdom of Bahrain