UAE tops Global Entrepreneurship Monitor 2023 index

Gulf Today, Staff Reporter

The UAE ranked first in the “Global Entrepreneurship Monitor” index, according to the report issued for the year 2022/23.

Based on interviews with more than 175,000 individuals and experts from 51 economies, the report tracks the percentage of adults who start or run a new business (total early-stage entrepreneurial activity).

For the second year in a row, the country topped the list in the “Global Entrepreneurship Monitor for the National Entrepreneurship Context” index, the results of which are based on the scores obtained in the framework conditions for each of the 51 economies included in the index.

A minimum of 36 experts, and often more, are selected to evaluate the data that make up the scores. Because the same questions are being asked in all economies, results can be compared across countries.

Also, in 2022, the UAE ranked first for seven out of 13 framework conditions and ranked first in general. The index defines the entrepreneurship context of a given economy in terms of 13 different characteristics called entrepreneurship framework conditions.

12 economies: Of the 38 economies surveyed by the index in both 2019 (before the pandemic) and 2022, 12 had a significantly higher level of “total early-stage entrepreneurial activity” in 2022 than before the pandemic, and 16 had significantly lower levels.

The results indicated that the UAE continued to make progress in its superior performance in the first place and raised its score in the general index from 6.8 points out of 10 in 2022 to 7.2 points in 2023, to maintain the top spot in the index achieved in 2022. It scored the highest score in the index since its launch in 2019.