29 June, 2020
UAE Ranked 1st in MENA on Global Competitiveness
The Global Competitiveness report saw UAE take the 1st position in MENA region and 9th globally, for the fourth year in a row.
The World Institute for Management Development (IMD) released their global competitiveness yearbook report for the year 2020, with countries from around the world being ranked on key parameters. Each parameter contributes to an overall ranking score, for which the UAE took 9th position, fortifying its place in the Top 10 countries of the world. The UAE joined the rankings only in 2017, and from that year, it has been in the Top 10 for four straight years.
The report covers 338 indicators, of which UAE was ranked 1st on 23 of them. For a further 59 indicators, UAE took a spot in the Top 5, while for another 106 indicators, it got a place in the Top 10. According to Abdullah Nasser Lootah of the Federal Competitiveness and Statistics Authority, the performance is a mere reflection of its sustained performance on macro-indicators such as vision, strategy and culture.
The UAE came well ahead of countries such as US, UK and Germany. Its top performances were on the parameters of absence of bureaucracy, tax evasion, personal income tax rate and % of females in the parliament.