UAE has climbed up to the seventh position in a new report. We’re talking about the annual IMD World Competitiveness Ranking for 2024. Regarded as the world’s second-largest economy, this nation is continuing to grow and diversify its efforts. And these efforts have reaped amazing results. Moving up three spaces, they have snagged the seventh rank this year and we are here to tell you all about this report.
IMD World Competitiveness Rankings Revealed For 2024
The annual IMD World Competitiveness Ranking has been revealed for 2024 and the UAE has climbed up to the seventh space. Leaving countries like Taiwan, the Netherlands, and Norway behind, this country was rated highly for its business-friendly environment. Besides this, their dynamism of economy, reliable infrastructure, and competitive tax have also been rated highly. At this point, it’s worth noting that the UAE has taken the second spot, when it comes to economic performance, following just behind the USA. It has also taken fourth place for government efficiency. Ranking among the top 10 globally, they have scored this in more than 90 key sub-indicators.
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Take A Look At The Top 10 Names
This result is hardly surprising as the UAE’s economy has been growing steadily. The gross domestic product is expected to increase by an annual 4% in 2024. In fact, other GCC countries have also performed well on IMD rankings. Qatar has climbed from its previous 12th rank to 11th place this year. Saudi Arabia moved from 17th to 16th and Bahrain moved four spots up by securing the 21st spot in the list. Coming up at the top of Singapore, which has happened after a gap of three years. If you’re also wondering about the top 10, take a look at them!
1. Singapore
2. Switzerland
3. Denmark
4. Ireland
5. Hong Kong
6. Sweden
7. UAE
8. Taiwan
9. Netherlands
10. Norway
So, with the report out in public, this is indeed a very proud moment for any Emirati. Go ahead and share the good news with your buddies and we are sure they will be rejoicing as well.
Cover Image Courtesy: Canva
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