The United Arab Emirates continues to rise in global competitiveness rankings, securing top positions across various key indicators in 2024.
This impressive achievement is attributed to the country's wise leadership and forward-thinking vision, with human development at the core of its growth strategy.
In the latest global competitiveness reports, the UAE ranked first globally in 223 indicators, surpassing last year’s tally of 215. Furthermore, the country is now among the top five in 444 indicators, up from 406 in 2023. The UAE also moved up in the rankings for being among the top 10 globally in 661 indicators, marking a notable increase from 604 in 2023 and 508 in 2022.
These results reflect the UAE’s ongoing modernization efforts, including updates to its legislative framework, proactive initiatives supporting economic growth and investment, the rule of law, the adoption of advanced technologies, and improvements across various sectors aimed at enhancing the quality of life for both citizens and residents.
The UAE's performance was particularly strong in the IMD World Competitiveness Yearbook 2024, where the country climbed three spots to seventh globally, solidifying its position in the top 10 for the second consecutive year. The UAE excelled across several report dimensions, ranking second globally in economic performance, fourth in government efficiency, and tenth in business environment efficiency.
One of the UAE's standout achievements is its ranking as first in the region in the 2023/2024 Human Development Index by the United Nations Development Programme, where it ranked 17th globally among 193 countries. The country also topped the 2023/2024 Global Entrepreneurship Monitor report for the third consecutive year with a record-high rate of 7.7, reflecting its thriving entrepreneurial ecosystem.
In tourism, the UAE ranked first in the Middle East and North Africa and 18th globally in the World Economic Forum’s Travel & Tourism Development Index. It also earned top positions in several specific indices, including first globally in road quality, tenth in public transport efficiency, and ninth in port services efficiency. The UAE also performed excellently in civil aviation, ranking first globally for air transport infrastructure quality and third for air transport service efficiency.
Foreign direct investment (FDI) continued to surge, with the UAE securing second place globally after the United States for new FDI projects, recording 1,323 new projects in 2023, reflecting a 33% growth compared to the previous year. FDI inflows amounted to $30.7 billion, while the country's total foreign investments reached $262.2 billion by the end of the year.
In digital services, the UAE ranked first globally in ICT infrastructure, scoring a perfect 100%. It also made remarkable progress in the United Nations E-Government Survey 2024, advancing 34 spots to 10th place in the Human Capital Index. Furthermore, the UAE placed fifth globally in the Quality Infrastructure Index for Sustainable Development, showcasing its commitment to long-term, sustainable growth.
The UAE's continued success across these global competitiveness indicators highlights the nation’s dedication to fostering a robust economy, improving public services, and enhancing its international standing.
News Source: Emirates News Agency
