Muscat – Oman has climbed 19 places in the 2026 Index of Economic Freedom, issued by the US-based Heritage Foundation, ranking 39th globally, compared with 58th in 2025.

The index evaluates 176 economies worldwide to measure the level of economic freedom, based on 12 indicators grouped under four key pillars: rule of law, government size, regulatory efficiency and open markets. These include property rights, government integrity and judicial effectiveness; government spending, tax burden and fiscal health; business freedom, labour freedom and monetary freedom; as well as trade freedom, investment freedom and financial freedom.

According to the report, economic freedom is strongly linked to broader social and economic outcomes, including healthier societies, cleaner environments, higher income per capita, human development, democratic governance and poverty reduction.

Oman recorded a score of 68.5 out of 100, its highest result in the past five years, maintaining its classification as a ‘moderately free’ economy. The sultanate’s score also exceeded both the global and regional averages.

The report highlighted a particularly strong improvement in fiscal health, where Oman’s score rose sharply from 63.2 in 2025 to 97.5 this year. The improvement reflects declining public debt relative to GDP and the recording of fiscal surpluses in the state budget.

Oman achieved strong scores in several other indicators, including trade freedom (78.4) and government spending (74.7). The country maintained high scores in the tax burden index (97.6), investment freedom (70) and financial freedom (60).

Singapore, Switzerland, Ireland, Australia and Taiwan make the top five, with United States ranked 22nd and United Kingdom 29th.

In the GCC, UAE leads at 23rd place, followed by Qatar at 31st, Bahrain (57th), Saudi Arabia (59th) and Kuwait (90th).

Efforts to improve Oman’s ranking are being coordinated by the National Competitiveness Office, through a national team working on the economic freedom and network readiness indices under the National Programme for Private Sector and Foreign Trade Development – Nazdaher. The initiative aims to enhance Oman’s performance in global indices through coordinated action with relevant government entities.

The National Competitiveness Office continues to monitor and improve a number of international indices aligned with the goals of Oman Vision 2040, supporting efforts to strengthen the sultanate’s competitiveness regionally and globally.

“Economic freedom must always serve families, communities and the permanent things – ordered liberty, personal responsibility and the dignity of work. Properly understood, economic freedom strengthens national security, nourishes civil society and improves the quality of life for all citizens. It is a cornerstone of a healthy society,” stated Kevin D Roberts, President of Heritage Foundation.

GCC economic freedom ranking

UAE – 23rd

Qatar – 31st

Oman – 39th

Bahrain – 57th

Saudi Arabia – 59th

Kuwait – 90th

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