The UAE has achieved another remarkable milestone by securing the 7th position in the 2024 IMD World Competitiveness Ranking. This leap of three positions from last year highlights the nation’s continuous efforts and success in enhancing its global competitiveness.
A Major Achievement
The UAE’s rise to the 7th spot globally is a testament to its robust economic landscape and effective governance. This achievement not only reflects the hard work of the nation’s leadership but also the collective efforts of its people. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, celebrated this victory, praising the dedication and unity of teams across various sectors in the UAE.
Key Rankings and Indicators
In the 2024 IMD World Competitiveness Ranking, the UAE has excelled in multiple areas:
- 2nd in Economic Performance
- 4th in Government Efficiency
- 10th in Business Efficiency
The UAE is among the top 10 globally in over 90 key and sub-indicators, showcasing its strong performance across various fields.
Leading the Way
The UAE ranked first globally in 11 indicators, including:
- Industrial disputes
- Labor force
- Employment
- Household consumption expenditure (real growth)
It secured second place in nine indicators, such as:
- Tourism receipts
- Females in parliament
- Labor force growth
Additionally, the UAE ranked third in six indicators and fourth in twelve indicators, demonstrating its all-around strength and adaptability in economic, administrative, and social fields.
Strategic Vision and Effective Governance
The guidance of the UAE’s leadership has fostered a dynamic developmental model. This model has enhanced the efficiency of the government system, business environment, and infrastructure, helping the country achieve top rankings in the IMD Competitiveness Report.
His Highness Sheikh Mohammed bin Rashid Al Maktoum stated that the UAE’s progress is due to the leadership of President His Highness Sheikh Mohamed bin Zayed Al Nahyan and the dedicated efforts of the nation’s people. He emphasized that the UAE’s goal is continuous improvement and achieving higher ranks across various global competitiveness indicators.
Commitment to Excellence
The UAE’s strategic vision, effective governance, and focus on sustainable development ensure its continued position as a leading and competitive economy. The country’s ability to manage competencies for sustainable long-term value creation is reflected in its impressive leap in the 2024 World Competitiveness Report.
The UAE’s significant progress in the IMD World Competitiveness Ranking showcases its commitment to excellence and innovation. With top rankings in economic performance, government efficiency, and business efficiency, the UAE is well on its way to achieving even greater heights. This achievement is a victory for all, highlighting the nation’s unity and dedication to progress.
As His Highness Sheikh Mohammed bin Rashid Al Maktoum said, “The best is yet to come.” The UAE’s ongoing commitment to development and excellence ensures a bright and prosperous future for the nation.
