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DUBAI DOMINATES GLOBAL RANKINGS IN 2024: A HUB OF ECONOMIC EXCELLENCE, INNOVATION AND SAFETY

Date: 29-Jan-2024 | Category: News & Updates

Dubai continues to hold a prominent place on the global stage as a bustling center of commerce, innovation and culture. According to the World Competitiveness Centre of the World Institute for Management Development (IMD), the UAE, with Dubai at its forefront has secured the 10th position globally highlighting remarkable resilience and sustained growth.

In terms of economic performance Dubai shines brightly securing the 4th spot globally. This robust economic standing is a testament to the emirate's strategic initiatives and dynamic business environment. The government efficiency of Dubai is recognized on a global scale, securing the 8th position, underscoring the Emirates' commitment to effective governance and streamlined administrative processes.

Dubai's business efficiency a critical factor in attracting and fostering entrepreneurial ventures is ranked 16th worldwide. This positioning reflects the Emirates' continuous efforts to nurture a business-friendly ecosystem and promote innovation.

With a growing focus on infrastructure development the emirate has secured the 26th position showcasing its dedication to building world-class facilities and connectivity. Dubai's pivotal role as a global trade hub is underscored by its 1st position in international trade a testament to its role in fostering global commerce and connectivity.

Dubai's economic resilience is evident securing the 4th global position underscoring its stability and diversification strategies. With a conducive tax environment Dubai has secured the 4th position exemplifying its attractiveness for businesses and investors. The Emirates' dedication to fostering a vibrant labor market is highlighted by its 6th position reflecting its commitment to talent development and inclusivity.

With around 16 million international visitors Dubai ranks fourth on the list. Dubai has been ranked first regionally and fifth-best city in the world in the World Best Cities Report 2023. The United Arab Emirates maintained its first place among Arab countries for the sixth consecutive year according to the World Happiness Report.

Dubai has a low crime rate index of 16.27 and the highest safety index of 83.73 out of 100. The UAE has been ranked the second safest country in the world by the World Economic Forum. Dubai's private schools among the top 10 in the world ranking, were released by the Programme for International Student Assessment securing the 13th place internationally.

The UAE ranks 19th in the World Index of Healthcare Innovation. The UAE scored highest on fiscal sustainability (1st) owing to its low debt-to-GDP ratio of 19.7 percent and its low public spending growth. The UAE ranks 26th overall in the quality of care.

The UAE leads globally in macroeconomic stability ranking 2nd in ICT adoption and 4th in the product market. The UAE stands 5th in internet users' growth of innovative companies and the distortive effects of taxes and subsidies on competition.

As the global competitiveness landscape continues to evolve Dubai remains resolutely focused on its strategic imperatives to strengthen its positioning and drive sustained progress. Embracing innovation fostering investment in transformative infrastructure, nurturing talent, and cultivating a supportive business environment are central to its forward trajectory, aiming to further elevate its global standing and promote inclusive growth for the year ahead.