UAE ranks first globally in 223 competitiveness indicators

The United Arab Emirates has maintained its upward trajectory in global competitiveness reports in 2024, securing top positions in key indicators thanks to the wise leadership and forward-thinking vision aimed at human development as the foundation and primary goal of development.

The UAE ranked first globally in 223 indicators, compared to 215 in 2023, and was among the top five countries globally in 444 indicators, compared to 406 in 2023. It also ranked among the top 10 globally in 661 indicators, compared to 604 in 2023 and 508 in 2022.

The UAE's progress is a tangible reflection of ongoing modernisation efforts in the legislative framework, the launch of proactive initiatives supporting the economic system and investment, the rule of law, the utilisation of advanced technology, and the development of various sectors to enhance the quality of life for all citizens and residents.

In the IMD World Competitiveness Yearbook 2024, the UAE climbed three places to seventh globally, following its achievement last year of entering the top 10 countries in the report.

The UAE's performance was outstanding across all report dimensions, ranking second globally in the economic performance, fourth in the government efficiency, and tenth in the business environment efficiency.

The UAE's positive performance has contributed to its leading position globally in over 90 indicators in the report, which fall under its main and sub-factors.

The UAE ranked first regionally in the 2023/2024 Human Development Index report issued by the United Nations Development Programme and ranked 17th globally out of 193 countries included in the report.

For the third consecutive year, the UAE ranked first globally in the 2023/2024 Global Entrepreneurship Monitor report, recording a rate of 7.7, a record high since the report's launch.

The UAE ranked first in the Middle East and North Africa and 18th globally in the Travel & Tourism Development Index issued by the World Economic Forum.

The UAE achieved fifth place globally and first in the Arab world in road quality and tenth globally and second in the Arab world in the efficiency of public transport services, in addition to ninth place globally and first in the Arab world in the efficiency of port services, according to the Travel & Tourism Development Index 2024, issued in May by the World Economic Forum.

Throughout 2024, the UAE topped the world in a number of competitiveness indicators related to the civil aviation sector. It ranked first globally in the Quality of Air Transport Infrastructure Index within the 2024 Travel & Tourism Development Index and third globally in the efficiency of air transport services and number of seats for weekly international departures/kilometre indices.

According to the United Nations Conference on Trade and Development (UNCTAD) report issued in June, the UAE ranked second globally after the United States in the number of new FDI projects in 2023, with 1,323 new projects, representing a growth rate of around 33% compared to the previous year.

The report indicated that the UAE recorded inflows of foreign direct investment projects in 2023 amounting to $30.688 billion (approximately AED112.6 billion), while the UAE's foreign investments at the end of the same year amounted to $262.208 billion (approximately AED 962 billion).

The UAE achieved outstanding results in a number of indicators related to government and digital services, as issued in the United Nations E-Government Survey 2024. It ranked first globally in the ICT Infrastructure Index and achieved a full score of 100%, while the country advanced 34 points in the Human Capital Index, moving from 44th to 10th place and achieving first place in Asia and the Arab world in this index.

The UAE reached fifth place globally in the Quality Infrastructure Index for Sustainable Development in 2024, issued by the United Nations Industrial Development Organisation (UNIDO), within the category of countries with a gross domestic product ranging from $100 billion to $1 trillion.

WAM