The UAE has made a notable leap in global talent competitiveness, rising five positions to rank 17th in the IMD World Talent Report 2024.
This advancement places the Emirates above several advanced economies, including Canada, the US, France, and the UK.
The UAE's strong appeal is further highlighted by its climb to 12th place in the appeal sub-index, reflecting its successful efforts to attract international professionals. The country's tax-free income and abundant career opportunities are key factors driving this attraction. Additionally, the UAE has improved its 'readiness' factor, moving from third place in 2020 to second in 2024, recovering from a dip to seventh in 2022.
Regionally, the UAE maintains its leadership in the Arab world, underscoring its strategic focus on becoming a knowledge and innovation hub over the next decade.
Abdullah bin Touq Al Marri, Minister of Economy, emphasized the UAE government's commitment to attracting top talent, fostering innovation, and expanding global investment partnerships.
In contrast, other regional players have seen mixed results. Kuwait fell three places to 31st, Saudi Arabia climbed four spots to 32nd, Bahrain dropped 13 positions to 40th, and Qatar fell 12 places to 42nd.
On a global scale, Switzerland, Singapore, and Luxembourg lead the rankings for talent competitiveness. However, the report also notes a rise in discrimination linked to the presence of artificial intelligence (AI) in workplaces. High-income economies like Japan, Thailand, Singapore, the UK, and Canada face challenges as AI-induced discrimination could undermine their ability to attract and retain top talent. José Caballero, senior economist at the IMD World Competitiveness Centre, cautions that discriminatory practices could tarnish a country’s reputation and affect its competitive edge in the long run.
News Source: Khaleej Times
