Released this June, the 2024 IMD World Competitiveness ranking evaluates 67 global economies, including new entries from Ghana, Nigeria, and Puerto Rico. The UAE’s impressive performance in this ranking highlights its dynamic and innovative approach to creating sustainable value for its citizens.
In today’s world, economic success involves more than just high GDP or productivity rates. The UAE has demonstrated that it possesses a winning strategy for success. This ranking considers factors such as efficient infrastructure, robust institutions, and forward-thinking policies, which together create a business-friendly environment that fosters innovation and growth. Success comes from effectively using resources, not just having them.
What sets the UAE apart is its balanced approach. The government’s role in creating an efficient and supportive environment is crucial. With cutting-edge infrastructure and policies that promote innovation and sustainability, the UAE has developed a business landscape that is both fertile and resilient.
In the Middle East, the UAE leads the way, ranking first, followed by Qatar in 11th place, Saudi Arabia in 16th, and Bahrain in 21st.
