In a significant achievement for the United Arab Emirates (UAE), the country has elevated its global competitiveness ranking, moving up three places to secure the 7th position in the prestigious 2024 World Competitiveness Report by the International Institute for Management Development (IMD).
This advancement underscores the UAE’s steady progress under the leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, alongside the guidance of President His Highness Sheikh Mohamed bin Zayed Al Nahyan.
Highlighting the UAE’s accomplishments, Sheikh Mohammed bin Rashid Al Maktoum praised the dedicated efforts across government, economic, and development sectors that contributed to this milestone. The UAE’s robust performance in the report’s pillars is notable, with rankings including 2nd globally in Economic Performance, 4th in Government Efficiency, and 10th in Business Efficiency.
Minister of Cabinet Affairs, Mohammad bin Abdullah Al Gergawi, attributed the UAE’s success to visionary leadership and a resilient government system adaptable to global changes. He emphasized the efficiency of UAE infrastructure and the conducive business environment that bolster economic growth and innovation.
Hanan Mansour Ahli, Managing Director of the Federal Competitiveness and Statistics Centre, applauded the seamless integration of real-time data exchange among federal and local entities. This, Ahli stated, reflects the UAE’s commitment to competitiveness and underscores its position as a global leader in various economic and administrative metrics.
The IMD World Competitiveness Report evaluates 336 indicators across economic, administrative, and social domains. This year’s results underscore the UAE’s consistent top rankings across numerous key indicators, highlighting its leadership in areas such as industrial disputes, labour force growth, and household consumption expenditure.
First published in 1989, the IMD report serves as a benchmark for global competitiveness, offering insights into trends and comprehensive statistical data derived from extensive research. The UAE’s ascent in the rankings reaffirms its status as a dynamic and competitive economy poised for sustained growth and development.
