According to the government media office, the UAE moved up three spots to take the seventh spot in the world in the 2024 World Competitiveness Report, ahead of Finland, Japan, Canada, Norway, and Iceland.
The World Competitiveness Report uses 20 sub-pillars in the economic, administrative, and social domains—such as government efficiency, innovation, and education—to categorise nations. After being placed first internationally in employment, internet users, and settling labour disputes, the nation broke into the Top 10 last year and had an outstanding performance this year. Additionally, the nation placed second in terms of tourism revenue, government policy agility, and bureaucracy-free environment.
In terms of immigration restrictions, capital and property tax collection, city administration, and the proportion of government budget surplus, the United Arab Emirates ranks third in the world. It ranks fourth in terms of containing the rise in consumer prices, prolonged joblessness, global experience, total productivity, labour laws, and public sector employment.
The nation also fared remarkably well in terms of the standard of energy infrastructure, scientific graduates, start-up processes, unemployment laws, foreign workers with advanced skills, and national culture.
First released in 1989, the IMD World Competitiveness report is a thorough yearly analysis and a worldwide standard for nation-state competitiveness. It provides a multitude of statistics and survey data obtained from in-depth research, along with benchmarking and trends insights. The capacity of each country to manage competences for long-term, sustainable value generation is analysed and ranked in the study.
