The UAE is in the top 5 globally in the IMD World Competitiveness Rankings.
According to Gulf News, the UAE has seen robust and continuous progress in its global competitiveness ranking over the past few years from a rank of 15th globally in 2016. The steadily rising global and regional performance is driven by both government and business efficiency, as well as technological and scientific infrastructure.
“We have embarked on the competitiveness journey 10 years ago and the UAE today is ranked first in the region and fifth globally. Competitiveness is an endless journey. leading and top positions go always for those who spare no effort to make landmark achievements and milestones,” said His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.
The UAE now ranks first globally for business efficiency, outshining other economies in areas such as productivity, digital transformation and entrepreneurship.
The IMD World Competitiveness Rankings, established in 1989, incorporate 235 indicators from each of the 63 ranked economies.
Globally, Singapore has ranked as the world’s most competitive economy for the first time since 2010.