In a world where economic prowess isn’t just about having a hefty GDP or sky-high productivity rates, the UAE has once again proven that it’s got the magic formula for success. IMD’s World Competitiveness ranking takes into account a couple of things; mainly efficient infrastructure, robust institutions, and forward-thinking policies, creating an environment where businesses can flourish and innovate. It’s not just about what you have; it’s about how you use it.

In the 2024 edition, released this June, the ranking covers 67 global economies, adding Ghana, Nigeria, and Puerto Rico to its lineup. The UAE’s impressive ranking is a testament to its dynamic approach to creating sustainable value for its people.

Ranked among the countries with the most competitive economies in 2024, the UAE is turning heads and setting benchmarks

World’s most competitive economies, 2024.

1. 🇸🇬 Singapore
2. 🇨🇭 Switzerland
3. 🇩🇰 Denmark
4. 🇮🇪 Ireland
5. 🇭🇰 Hong Kong
6. 🇸🇪 Sweden
7. 🇦🇪 UAE
8. 🇹🇼 Taiwan
9. 🇳🇱 Netherlands
10. 🇳🇴 Norway
11. 🇶🇦 Qatar
12. 🇺🇸 USA
13. 🇦🇺 Australia
14. 🇨🇳 China
15. 🇫🇮 Finland
16. 🇸🇦 Saudi Arabia…

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— World of Statistics (@stats_feed) June 23, 2024

The UAE ranked 7th

So, what makes the UAE stand out? It’s all about the balance. The government’s role in providing an efficient and supportive environment cannot be overstated. From cutting-edge infrastructure to policies that foster innovation and sustainability, the UAE has created a business landscape that’s both fertile and resilient.

The UAE is the first in the Middle East, followed by Qatar in 11th place, Saudi Arabia in 16th and Bahrain in 21st.

Read More: The UAE Ranks 7th Place Globally In The 2024 World Competitiveness Report