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UAE 12th most competitive nation globally, moves up 7 places in World Economic Forum Ranking

Dubai Airview(Dubai, 04/09/2014) This week the World Economic Forum (WEF) published the results of its annual Global Competitiveness Report (GCR) 2014-2015 with impressive rankings for the United Arab Emirates (UAE).

WEF-LogoIn the actual GCR, the UAE advanced a fulminant 7 places in the overall competitiveness of its economy within just one year. UAE became now the 12th most competitive nation globally – ahead of countries such as Brazil, Canada, China, Denmark, France, India, Russia, South Korea and Taiwan. The GCR 2014 assessed a total of 144 countries on their ability to provide high levels of prosperity and welfare to its citizens, along a series of performance indicators which evaluates the country’s ability to provide the suitable infrastructure for investments.

UAE impressively leads globally on a number of sensitive and important indicators

  • Rank 1 – quality of roads
  • Rank 1 – absence of organized crime
  • Rank 1 – lowest rate of inflation
  • Rank 2 – government procurement of advanced technology
  • Rank 2 – effectiveness of government spending
  • Rank 2 – impact of taxes on investment
  • Rank 2 – lack of trade barriers
  • Rank 2 – quality of infrastructure in the aviation sector
  • Rank 3 – infrastructure
  • Rank 3 – citizens' confidence in government & leadership
  • Rank 3 – absence of government bureaucracy
  • Rank 3 – quality of ports
  • Rank 3 – efficiency of customs procedures
  • Rank 3 – attracting technology through foreign direct investment (FDI)
  • Rank 3 – attracting professional talent

Overall, the UAE improved its performance in 78 indicators out of 114.

 

First in MENA

GCR-MenaUAE also leads all the Middle East and North African (MENA) countries.

This performance reflects a concerted and comprehensive national strategy for competitiveness and its alignment with the economic and social objectives for the ultimate well-being and prosperity of the country.

The report shows that the UAE is among the safest places to do business. Not just in the Middle East, but indeed, worldwide.

Sources for further reading

http://www.weforum.org/issues/global-competitiveness

The full Global Competitiveness Report 2014-2015 can be downloaded also here

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