Dubai, UAE – The United Arab Emirates has secured a prominent position among the world’s most competitive economies, rising to the 7th spot in the latest rankings released by the IMD World Competitiveness Ranking.
The assessment, based on comprehensive factors including GDP, productivity, political stability, social cohesion, and cultural impact, underscores the UAE’s robust economic growth and strategic advancements.
Singapore emerged as the leader in 2024 rankings, followed closely by Switzerland, Denmark, Ireland, Hong Kong, and Sweden. The UAE’s ascent to the 7th position marks a notable achievement, reflecting its continuous efforts in enhancing economic performance, government and business efficiency, and infrastructure development.
Over the past year, the UAE has made significant strides in bolstering its economic foundations, supported by proactive government policies and strategic investments across various sectors. The country’s commitment to innovation and sustainable development has reinforced its attractiveness as a global business hub and a preferred destination for foreign investment.
“The UAE’s climb to the 7th position in IMD World Competitiveness Ranking is a testament to UAE nation’s unwavering commitment to excellence and innovation,” Group-CEO of D&B Properties, Adham Younis said. “Seeing the efforts recognized on global stage reinforces the UAE’s position as a leading economic powerhouse.”
The IMD World Competitiveness Ranking serves as a testament to the UAE’s ongoing commitment to fostering a conducive business environment, promoting entrepreneurship, and driving sustainable growth. As the country looks ahead, it remains dedicated to advancing its competitiveness agenda, leveraging its strengths in innovation, infrastructure, and economic diversification.
