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UAE advances 3 places, ranking 7th globally in 2024 World Competitiveness Report

Wed 19 Jun 2024    
EcoBalance
The Brew News Team | 2 min read

Dubai: His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, emphasized the UAE’s ongoing improvement in global competitiveness, attributing this success to the leadership of President His Highness Sheikh Mohamed bin Zayed Al Nahyan and the collective efforts of its people.

In a recent statement, Sheikh Mohammed noted the UAE’s rise in the 2024 World Competitiveness Report by the International Institute for Management Development (IMD), climbing three spots to seventh place globally. He highlighted the UAE’s strong performance in over 90 key indicators, affirming its position among the top ten globally across various sectors.

Acknowledging the achievement, Sheikh Mohammed expressed gratitude to teams across government, economic, and development sectors for their unified efforts towards the UAE’s advancement.

The Minister of Cabinet Affairs, Mohammad bin Abdullah Al Gergawi, underscored the UAE’s consistent top-ranking status in the report, attributing it to the visionary leadership of Sheikh Mohamed bin Zayed Al Nahyan and the guidance of Sheikh Mohammed bin Rashid Al Maktoum. Al Gergawi praised the UAE’s adaptable development model and efficient government system, which he credited for navigating global changes effectively.

Hanan Mansour Ahli, Managing Director of the Federal Competitiveness and Statistics Centre, highlighted the integration of real-time data and governance across federal and local entities as crucial to achieving these results. She commended the dedication of teams in implementing the government’s directives, reinforcing the UAE’s leadership in competitiveness.

The World Competitiveness Report evaluates countries based on four main pillars and 20 sub-pillars encompassing 336 indicators across economic, administrative, and social fields. This year, the UAE excelled across all pillars, ranking highly in indicators such as economic performance, government efficiency, and business efficiency.

The report underscores the UAE’s achievements in areas including tourism receipts, labor force growth, and tax policies, reflecting its commitment to sustainable development and innovation. Published annually since 1989, the IMD report remains a crucial benchmark for assessing global competitiveness and driving strategic advancements worldwide.


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