|WEF's Global Competitiveness rankings: UAE in Top 20
WEF's Global Competitiveness rankings: UAE in Top 20
Top 5 on key index; Among best in the world for Infrastructure, Macro-economic environment
The United Arab Emirates (UAE) has risen in its global ranking on the latest World Economic Forum's Global Competitiveness report.
The UAE was ranked 19th overall on the Global Competitiveness Index (GCI) out of 148 countries.
On some key sub-indexes the UAE is among the top countries in the world. The report lists 12 pillars of competitiveness as the driving factors explaining an economy's growth potential and the UAE scores very high here
The ‘Basic Requirements' rank of the UAE is 5, with only Singapore, Switzerland, Hong Kong and Finland ahead on that scale.
For ‘Infrastructure' the UAE takes the 8th spot and for 'Macro-economic' environment the Emirates is 12th in the world.
On the 'Innovation and Sophistication' scale the UAE is ranked 25th in the world.
The annual economic survey finds the United States' competitiveness rising again after four years of decline, in a turnaround that reflects a rebounding confidence in its financial market and politicians.
The Geneva-based World Economic Forum says the world's largest economy saw its overall competitiveness rise to fifth place, up from seventh.
Germany was at fourth place, up from sixth. In the lead on the top 10 board were Switzerland, No. 1, followed by Singapore, then Finland, all three unchanged from last year.
Hong Kong moved up to seventh and Japan advanced to ninth.
But Sweden dropped to sixth, while the Netherlands sank to eighth, and the UK moved down to 10th, reflecting what the Forum on Wednesday called a Europe distracted by public debt and concerns about the Eurozone's solidarity.