UAE tops Arab World in WEF Global Competitiveness Report 2019
Emirates tops global list in terms of macroeconomic stability, debt dynamics, and mobile-cellular phone subscriptions.
The UAE has ranked first in the Arab World and climbed two positions to the 25th spot out of the 141 countries whose economic landscapes were assessed by World Economic Forum's Global Competitiveness Report 2019.
The report, which was first published in 1979, assesses economies using 103 indicators organised into 12 pillars, including institutions; infrastructure; product market; labour market; financial system; market size; business dynamism; ICT adoption; macroeconomic stability; health; skills; and innovation capability.
The UAE has shown improvement in 52 indicators in this year's report, ranking among the world's top five countries in 19 indicators, and among the first 20 countries globally in 57 others.
In the report’s global rankings, the UAE ranked first in terms of macroeconomic stability, second in ICT adoption, and fourth in the product market.
The country also leads the world in terms of four key economic indicators, including inflation, debt dynamics, mobile-cellular phone subscriptions, and credit gap.
According to the report, the UAE was ranked second globally for percentage of population with access to electricity, mobile-broadband subscriptions, and internal labour mobility.
Commenting on the positive ranking, UAE Minister of Economy, Eng Sultan bin Saeed Al Mansouri, said that the “important milestone” sent a reassuring message to partner countries, investors, and the business community that the UAE and its investment environment were “safe” and ideal for business expansion.