UAE makes promising strides in global competitiveness race in 2024

The United Arab Emirates has made promising strides in the global competitiveness race in 2024, securing top rankings in several international and regional reports and indices. This is a clear indication of the effectiveness and efficiency of the country’s comprehensive development strategy and its pioneering experience in government work management.

The results achieved by the UAE reflect the strength and attractiveness of its economy, the high level of security and stability it enjoys, and the quality of life it provides for its citizens and residents.

The first set of results comes from the inaugural edition of the “Global Future Opportunities Index” for 2024, released on the sidelines of the 54th World Economic Forum in Davos. The UAE ranked first globally in 20 indicators of future opportunity readiness.

The UAE also ranked first globally in responding to change, second globally in the future vision index, second globally in government support for the entrepreneurship environment, and third globally in long-term future planning and government future strategy.

The UAE has maintained its position as a global oasis of security and stability, with four of its cities ranked among the ten safest cities in the world according to Numbeo’s City Safety Index.

The UAE’s achievements in 2024 are a testament to its wise leadership and its commitment to continuous development and improvement. The country’s strong performance in various global rankings is a source of pride for its citizens and residents, and it further strengthens the UAE’s position as a leading global player.

The index showed that Abu Dhabi ranked first globally in 2024, maintaining its top position for the eighth consecutive year since 2017. Dubai ranked fourth globally, followed by Ras Al Khaimah in sixth place.

The UAE continues to strengthen its position as one of the most attractive countries in the world for those seeking to settle and work. The annual report by Deel, a leading global HR management company, ranked the UAE as the most preferred country for workers seeking work visas around the world. The UAE ranked first globally in 20 indicators of future opportunity readiness.

The UAE ranked first regionally and fifth globally among the most preferred global destinations for remote work, attracting “digital nomads”, according to a ranking by CEOWORLD magazine. The country also ranked sixth globally among the most attractive destinations for retirement plans according to the 2024 Global Expat Retirement Index.

In the same context, the UAE ranked fourth globally in the list of the best countries where expats want to live and work, according to a ranking by InterNations, a global organisation that evaluates the best cities for expats to live and work in.

It is worth noting that the UAE succeeded in 2023 in obtaining first place globally in more than 215 developmental, economic and human indicators in international reports.

$27 billion funded for 4,000 development projects: The Opec Fund for International Development (OFID) has committed a $27 billion to support 4,000 development projects in over 125 countries since its inception, highlighted Dr. Abdulhamid Alkhalifa, OFID Director-General.

In 2023, funding reached a record $1.7 billion through 55 projects worldwide, bolstering initiatives promoting social and economic resilience and sustainable growth.

“The UAE has played a significant role in supporting the fund since its establishment in 1976, contributing as an OPEC member state in the fund’s initiatives and projects aimed at promoting sustainable development globally,” Dr. Alkhalifa said in statements to the Emirates News Agency (WAM) during the World Governments Summit (WGS).

He lauded the UAE’s unwavering commitment to mobilising significant funding and its focus on energy transition aligns with efforts to support sustainable development and other strategic alliances.

Regarding the role of the World Governments Summit in stimulating international cooperation and envisioning the future of governments and governmental work, the OFID Director-General said that the summit seeks to enhance international cooperation, serving as an ideal platform to enhance partnerships by bringing together international organisations, decision-makers, experts, and innovators.

Underscoring the WGS’ crucial role in fostering international cooperation and envisioning the future of governance, Dr. Alkhalifa lauded the platform’s ability to convene international organizations, decision-makers, experts, and innovators to strengthen partnerships.

He recognised the summit’s immense value in facilitating discussions on governmental processes, policies, and future trends, aiming for concerted efforts towards achieving comprehensive and sustainable development.

Dr. Alkhalifa concluded, “We look forward to exchanging ideas with our counterparts and finding appropriate solutions to global challenges.”

The OPEC Fund for International Development, founded in 1976, is a multilateral development finance institution. Its membership comprises 12 countries: the UAE, Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia, and Venezuela. The organisation collaborates with the global community to stimulate economic growth and social progress in low- and middle-income countries worldwide.

WAM