UAE Climbs to 7th Place in 2024 World Competitiveness Report
Published annually since 1989, the IMD World Competitiveness Report is a benchmark on the competitiveness of nations, analyzing their ability to create sustainable long-term value.
The UAE has advanced three spots to rank 7th globally in the 2024 World Competitiveness Report by the International Institute for Management Development (IMD) in Switzerland.[1]
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Building on last year's top-10 entry, the UAE now outperforms countries like Norway, Iceland, Japan, Canada, and Finland. The UAE ranked among the top 10 globally in over 90 key and sub-indicators. It achieved 1st place in 11 indicators, including industrial disputes, labor force percentage, employment percentage, and household consumption expenditure real growth.
The UAE secured 2nd place in 9 indicators such as tourism receipts, females in parliament, labor force growth, adaptability of government policy, and absence of bureaucracy.
In 3rd place, the UAE ranked in 6 indicators, including collected capital and property taxes, immigration laws, management of cities, and percentage of government budget surplus.
The UAE also achieved 4th place in 12 indicators, including consumer price inflation, long-term unemployment, international experience, overall productivity (PPP), labor regulation, balance of commercial services, and employment in the public sector.
Additionally, the UAE ranked 5th in 13 indicators, such as GDP (PPP) per capita, quality of air transportation, energy infrastructure, graduates in sciences, start-up procedures, unemployment legislation, foreign highly-skilled personnel, national culture, unemployment rate, and tax evasion.
Published annually since 1989, the IMD World Competitiveness Report is a benchmark on the competitiveness of nations, analyzing their ability to create sustainable long-term value.
In another recent report, the 2024 Cost of Living City Ranking, by US-based consulting firm Mercer, Dubai has been named the most expensive city in the Middle East for international employees, driven by soaring rents and insurance premiums.
The report highlights a 21% surge in housing prices in Dubai from 2023 to 2024, with three-bedroom apartment rents rising by an average of 15% and house rentals by 32%. These increases far surpass those in other rapidly growing cities, such as Singapore by 10%, Amsterdam by 7%, New York by 6%, and Hong Kong by 7%.