UAE Rises to 7th Place in 2024 World Competitiveness Report

The United Arab Emirates (UAE) has achieved a significant milestone, climbing to 7th place in the 2024 World Competitiveness Report, up from 10th last year. This leap places the UAE ahead of nations such as Norway, Iceland, Japan, Canada, and Finland.

Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, praised the nation's progress, attributing the rise to the leadership of President Sheikh Mohamed bin Zayed and the dedication of the Emirati people. He stated, “In one of the most important global competitiveness reports issued by the International Institute for Management Development in Switzerland, the UAE moved up three places, reaching seventh place globally. The UAE is also among the top ten globally in more than 90 key and sub-indicators in the 2024 World Competitiveness Report.”

The UAE's exceptional performance across various pillars of the report is noteworthy. The nation ranked 2nd globally in Economic Performance, 4th in Government Efficiency, and 10th in Business Efficiency.

The World Competitiveness Report evaluates countries based on four main pillars and 20 sub-pillars, covering 336 competitive indicators across economic, administrative, and social fields, including government efficiency, education, and innovation. This year, the UAE showed advancement in all four main pillars.

Key Achievements in the 2024 Report:

• 1st Globally: The UAE topped 11 indicators, including industrial disputes, labor force percentage, employment percentage, and household consumption expenditure real growth.
• 2nd Globally: The nation excelled in 9 indicators, such as tourism receipts, females in parliament, labor force growth, adaptability of government policy, and absence of bureaucracy.
• 3rd Globally: Six indicators saw the UAE in third place, including collected capital and property taxes, immigration laws, management of cities, and the percentage of government budget surplus.
• 4th Globally: The UAE ranked fourth in 12 indicators, including consumer price inflation, long-term unemployment, international experience, overall productivity (PPP), labor regulation, and the balance of commercial services and employment in the public sector.
• 5th Globally: Thirteen indicators featured the UAE in fifth place, including GDP (PPP) per capita, quality of air transportation, energy infrastructure, graduates in sciences, start-up procedures, unemployment legislation, foreign highly-skilled personnel, national culture, unemployment rate, and tax evasion.

The UAE's rise in the World Competitiveness Report underscores its continuous efforts to enhance its global standing through strategic economic and social reforms, fostering innovation, and ensuring government efficiency.