UAE remains most competitive economy in Mena in 2022

UAE remains most competitive economy in Mena in 2022

Emirates ranked 12th globally ahead of Canada, Germany, China, Australia, Austria, UK

Published: Wed 15 Jun 2022, 10:52 AM

The UAE remains the most competitive economy in the Middle East and North Africa (Mena) region in 2022, according to the IMD World Competitiveness 2022 Report released on Wednesday.

The Emirates was ranked 12th globally in the latest report, down three positions, but still more competitive than the world’s major economies such as Canada, Germany, China, Australia, Austria, UK, South Korea, France, New Zealand, Japan and others.

In the region, Qatar came second with 18th position, followed by Saudi Arabia (24th), Israel (25th) and Bahrain (30th).

The UAE was ranked 1st globally in a number of sub-indices, including basic infrastructure, adaptability of government policy, immigration laws, income distribution, tax evasion, collected personal income tax, redundancy cost, management of cities, population growth, dependency ratio of family members on each other, energy infrastructure, the highest internet users and student mobility inbound.

The study, which is produced annually, covered 63 countries and looked at four key indicators – economic performance, government efficiency, business efficiency and infrastructure, with each having many sub-indices.

The UAE saw a major improvement in various sub-indices including gross fixed capital formation real growth, renewable energies, real GDP