UAE Rises to 7th Place in Global Competitiveness Ranking

Dubai, The Gulf Observer: His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, has announced that the United Arab Emirates (UAE) has climbed three places in the latest global competitiveness rankings, reaching 7th place worldwide. This achievement, highlighted in the 2024 World Competitiveness Report by the International Institute for Management Development in Switzerland, underscores the UAE’s continuous improvement and dedication to excellence under the leadership of President His Highness Sheikh Mohamed bin Zayed Al Nahyan.

“In one of the most important global competitiveness reports, the UAE has advanced to 7th place globally,” stated His Highness Sheikh Mohammed bin Rashid. “The UAE is also among the top ten globally in more than 90 key and sub-indicators in the 2024 World Competitiveness Report.”

He extended his gratitude to all government, economic, and development sector teams for their collaborative efforts towards the progress of the UAE. The nation’s remarkable leap in the rankings builds on last year’s achievement of entering the top ten, now surpassing countries like Norway, Iceland, Japan, Canada, and Finland.

The UAE excelled across various pillars in the report, securing 2nd place globally in Economic Performance, 4th in Government Efficiency, and 10th in Business Efficiency.

Mohammad bin Abdullah Al Gergawi, Minister of Cabinet Affairs, emphasized the significance of this achievement, stating, “The UAE’s continuous presence at the forefront of this significant report reflects its status as one of the world’s most competitive economies. The exceptional vision and wise leadership of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, and the guidance of His Highness Sheikh Mohammed bin Rashid Al Maktoum, have made the UAE a pioneering developmental model adaptable to ongoing global changes. This demonstrates the efficiency of the UAE government system, the flexibility of its business environment, and the readiness of its infrastructure.”

Hanan Mansour Ahli, Managing Director of the Federal Competitiveness and Statistics Centre, praised the integration and governance of real-time data and statistics exchange between federal and local entities. “This achievement is due to dedicated teams committed to implementing the vision and directives of the government of the future, reinforcing the UAE’s leadership,” Ahli commented. “These results reflect the solid principles of the competitiveness culture in the UAE.”

The UAE’s significant progress in the global competitiveness rankings highlights its commitment to sustainable development and its strategic vision for the future, ensuring its place as a leading global economy.