{"id":14935,"date":"2024-06-19T10:43:10","date_gmt":"2024-06-19T06:43:10","guid":{"rendered":"http:\/\/sevenluxuryrealestate.com\/?p=14935"},"modified":"2024-06-19T10:43:47","modified_gmt":"2024-06-19T06:43:47","slug":"uae-climbs-to-seventh-place-in-global-competitiveness-ranking","status":"publish","type":"post","link":"https:\/\/sevenluxuryrealestate.com\/tr\/2024\/06\/19\/uae-climbs-to-seventh-place-in-global-competitiveness-ranking\/","title":{"rendered":"UAE climbs to seventh place in global competitiveness ranking"},"content":{"rendered":"\n

The UAE moved up three places to seventh position in the annual IMD World Competitiveness Ranking this year, as the Arab world\u2019s second-largest economy continues to grow amid its diversification efforts.<\/p>\n\n\n\n

The country was rated highly for its business-friendly environment, the dynamism of its economy, reliable infrastructure and its competitive tax regime, the IMD survey released on Tuesday found.<\/p>\n\n\n\n

Globally, the Emirates took second spot in terms of economic performance, behind the US, and fourth place for government efficiency and 10th for business efficiency.<\/p>\n\n\n\n

It was ranked among the top 10 globally in more than 90 key sub-indicators, topping segments such as industrial disputes, labor force, employment and household consumption expenditure.<\/p>\n\n\n\n

“Our thanks and appreciation go to all the teams in the government, economic, and development sectors who work with one spirit to achieve a single goal: the progress of the United Arab Emirates,” said Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai.<\/p>\n\n\n\n

The UAE\u2019s economy has been growing steadily on the back of government reforms and strong non-oil expansion.<\/p>\n\n\n\n

The country’s gross domestic product is expected to expand by an annual 4 per cent in 2024, the International Monetary Fund said this year, up from its previous projection of 3.5 per cent.<\/p>\n\n\n\n

Meanwhile, other GCC countries also rose on the\u00a0I<\/a>MD ranking , which primarily focuses on economic performance, government efficiency, business efficiency and infrastructure, covering aspects such as macroeconomic stability, fiscal policy, institutional quality, and market openness.<\/p>\n\n\n\n

Qatar climbed from 12th to 11th place, Saudi Arabia advanced from 17th to 16th and Bahrain moved up four spots to secure the 21st position.<\/p>\n\n\n\n

Globally, Singapore reclaimed the top spot after a gap of three years. Switzerland secured second place, while Denmark ranked third among the 67 global economies evaluated.<\/p>\n\n\n\n

\u201cWe believe the most competitive economies of the future will be those able to anticipate and adapt to this changing global context while simultaneously creating value and well-being for their people. And that will also make them sustainable,” said Arturo Bris, director of the IMD World Competitiveness Centre.<\/p>\n\n\n\n

He added that the main competitiveness challenges for the world’s economies in 2024 and beyond are transitioning to a low-carbon and circular economy, integrating emerging markets into the global economy, and keeping up with digital transformation.<\/p>\n\n\n\n

The report said the three most influential trends having an impact on businesses in 2024 are the adoption of artificial intelligence, the risk of a global economic slowdown, and geopolitical conflicts.<\/p>\n\n\n\n

\u201cOne of the key challenges for companies today is how to implement AI systems that improve efficiency without causing disruption to business activities,\u201d the report said.<\/p>\n\n\n\n

\u201cAI related challenge is ensuring their chosen AI system\u2019s accuracy, because inaccurate systems lead to inefficiencies and reduced productivity.”<\/p>\n\n\n\n

The report said that 27 per cent of the executives surveyed consider the shift to zero emissions a crucial short-term trend, but only 12.2 per cent regard the impact of global warming as relevant.<\/p>\n\n\n\n

\u201cExecutives need to balance short-term priorities with long-term ones. Environmental risks are seen as being in the latter category and are being given too little relevance despite the fact they are affecting us already,\u201d the report said.<\/p>\n","protected":false},"excerpt":{"rendered":"

The UAE moved up three places to seventh position in the annual IMD World Competitiveness Ranking this year, as the Arab world\u2019s second-largest economy continues to grow amid its diversification efforts. The country was rated highly for its business-friendly environment, the dynamism of its economy, reliable infrastructure and its competitive tax regime, the IMD survey […]<\/p>\n","protected":false},"author":2,"featured_media":14796,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_joinchat":[],"footnotes":""},"categories":[173,67],"tags":[161,157],"class_list":["post-14935","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dubai","category-news","tag-dubai","tag-emirates"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/sevenluxuryrealestate.com\/tr\/wp-json\/wp\/v2\/posts\/14935","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sevenluxuryrealestate.com\/tr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sevenluxuryrealestate.com\/tr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sevenluxuryrealestate.com\/tr\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/sevenluxuryrealestate.com\/tr\/wp-json\/wp\/v2\/comments?post=14935"}],"version-history":[{"count":0,"href":"https:\/\/sevenluxuryrealestate.com\/tr\/wp-json\/wp\/v2\/posts\/14935\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sevenluxuryrealestate.com\/tr\/wp-json\/wp\/v2\/media\/14796"}],"wp:attachment":[{"href":"https:\/\/sevenluxuryrealestate.com\/tr\/wp-json\/wp\/v2\/media?parent=14935"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sevenluxuryrealestate.com\/tr\/wp-json\/wp\/v2\/categories?post=14935"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sevenluxuryrealestate.com\/tr\/wp-json\/wp\/v2\/tags?post=14935"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}