The UAE made a significant leap in the 2024 World Competitiveness Report, moving up three positions to seventh place globally, ahead of Norway, Iceland, Japan, Canada, and Finland. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, announced that under the leadership of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, and through the dedicated efforts of its people, the nation continues to improve its standing each year, achieving higher ranks across various global competitiveness indicators.
His Highness Sheikh Mohammed bin Rashid Al Maktoum said, "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."
What Are The Key Indicators For The 2024 World Competitiveness Report
First published in 1989, the International Institute for Management Development World Competitiveness Report offers insights into trends, benchmarking, and a wealth of statistics and survey data from extensive research. The report evaluates countries based on four main pillars and 20 sub-pillars, covering 336 competitive indicators in economic, administrative, and social fields, such as government efficiency, education, and innovation. The UAE advanced in all four main pillars and ranked among the top 10 globally in over 90 key and sub-indicators.
The UAE ranked first globally in 11 indicators, including industrial disputes, labour force percentage, employment percentage, and real growth in household consumption expenditure. It secured second place globally in 9 indicators, such as tourism receipts, females in parliament, labour force growth, adaptability of government policy, and absence of bureaucracy.
The UAE ranked third globally in 6 indicators, including collected capital and property taxes, immigration laws, management of cities, and government budget surplus percentage.
Additionally, the UAE achieved fourth place in 12 indicators, including consumer price inflation, long-term unemployment, international experience, overall productivity, labour regulation, and balance of commercial services and employment in the public sector. It also secured fifth place in 13 indicators, such as GDP 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.