The United Arab Emirates (UAE) has solidified its position as a leading global competitor according to the recently released 2024 World Competitiveness Ranking by the International Institute for Management Development (IMD). This prestigious ranking assesses economies on a holistic basis, considering factors beyond just GDP or productivity. The IMD prioritizes robust infrastructure, effective institutions, and forward-looking policies, creating an environment conducive to business growth and innovation.
The 2024 edition, encompassing 67 economies with the addition of Ghana, Nigeria, and Puerto Rico, underscores the UAE’s dynamic approach to fostering long-term value for its citizens.
UAE Secures Top Ranking in the Region
With a noteworthy 7th place finish, the UAE stands out as a regional leader. This achievement is a testament to the nation’s well-balanced strategy for economic development. The government plays a crucial role in establishing a supportive and efficient business environment. Through investments in cutting-edge infrastructure and policies that promote innovation and sustainability, the UAE has cultivated a fertile and resilient business landscape. This strong economic performance is further reflected in the robust growth of the Dubai real estate sector, which has witnessed significant transaction volume increases and rising property values in 2024.
World's most competitive economies, 2024.
— World of Statistics (@stats_feed) June 23, 2024
1. 🇸🇬 Singapore
2. 🇨🇭 Switzerland
3. 🇩🇰 Denmark
4. 🇮🇪 Ireland
5. 🇭🇰 Hong Kong
6. 🇸🇪 Sweden
7. 🇦🇪 UAE
8. 🇹🇼 Taiwan
9. 🇳🇱 Netherlands
10. 🇳🇴 Norway
11. 🇶🇦 Qatar
12. 🇺🇸 USA
13. 🇦🇺 Australia
14. 🇨🇳 China
15. 🇫🇮 Finland
16. 🇸🇦 Saudi Arabia…
Leading the Way in the Middle East
The UAE’s success extends beyond its global ranking. The nation holds the top position within the Middle East region, followed by Qatar (11th), Saudi Arabia (16th), and Bahrain (21st). This leadership role reflects the UAE’s commitment to fostering a competitive and dynamic economy within the region.
Published on: Jun 23, 2024
Source: https://lovin.co/dubai/en/news/the-uae-ranked-among-the-countries-with-the-most-competitive-economies-in-2024/
