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UAE Among World's Best Nations to Launch a Business in 2024

  • Publish date: Tuesday، 16 April 2024 Last update: Tuesday، 10 December 2024
UAE Among World's Best Nations to Launch a Business in 2024

A recent study conducted by Business Name Generator has positioned the United Arab Emirates (UAE) as one of the leading countries worldwide for entrepreneurs seeking to launch startup ventures in 2024. The comprehensive analysis, which evaluated 52 nations, ranked the UAE in an impressive third place, underscoring its attractiveness for new businesses.

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Key Factors Considered

The study took into account various factors crucial for startup success, including tax rates, cost of living, WiFi speeds, GDP growth projections, and happiness indices. These metrics provided insights into the overall business environment and quality of life for entrepreneurs in different locations.

UAE's Competitive Advantages

The UAE stood out for its highly competitive corporate tax rate of nine percent, ranking second lowest among the nations analyzed. Additionally, the country is poised for a promising four percent GDP growth in 2024, supported by a robust GDP per capita of $47,663. These factors indicate a favorable economic landscape conducive to the growth of startup enterprises.

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Comparative Analysis

In contrast, the study identified the Philippines, Italy, and Brazil as challenging environments for startups due to high taxes and bureaucratic hurdles. Finland emerged as the top-ranked country for entrepreneurial happiness, while India led in terms of affordable living costs.

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