UAE Rises to 7th in Global Competitiveness in 2024

UAE, 19 June, 2024 : The UAE has ascended to 7th place in the 2024 World Competitiveness Report by the International Institute for Management Development (IMD) in Switzerland, marking a three-place rise from the previous year. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, praised the leadership of President His Highness Sheikh Mohamed bin Zayed Al Nahyan and the efforts of the UAE's citizens for this achievement.

The UAE now ranks among the top ten globally in over 90 key and sub-indicators, excelling in Economic Performance (2nd), Government Efficiency (4th), and Business Efficiency (10th). The nation surpassed Norway, Iceland, Japan, Canada, and Finland.

Minister of Cabinet Affairs Mohammad bin Abdullah Al Gergawi highlighted that this accomplishment underscores the UAE's position as one of the world’s most competitive economies, driven by visionary leadership and a robust, adaptable developmental model.

Hanan Mansour Ahli, Managing Director of the Federal Competitiveness and Statistics Centre, credited the achievement to the efficient integration of real-time data and statistics across federal and local entities, reflecting the UAE's competitive culture.

The World Competitiveness Report evaluates countries on four main pillars and 20 sub-pillars, encompassing 336 indicators across economic, administrative, and social fields. The UAE ranked 1st globally in 11 indicators, including industrial disputes and labor force percentage, and 2nd in nine indicators, such as tourism receipts and labor force growth.

First published in 1989, the IMD World Competitiveness Report is a leading annual analysis that benchmarks the ability of countries to create sustainable long-term value.

Source : www.wam.ae