The UAE economy has been ranked among the top 20 in the world – and top in the region.
The Global Competitiveness Report 2016, issued by the World Economic Forum (Davos) in Switzerland, ranked the UAE 16th globally.
The report is based on annual performance and competitiveness of economies in terms of strength, weakness, impact on quality of life, prosperity and well-being of people.
This report surveyed the economies of 138 countries using 114 performance indexes and in 12 basic axes, including institutions, infrastructure, education, health, innovation, efficiency of the labour market and other topics.
Evaluation is based on statistics and data from participating countries in the report, such as opinion polls and surveys on executives and major investors in those countries, national UAE news agency WAM reported on Wednesday.
WAM said: “The UAE was ranked in the first 10 positions globally in three basic themes in the report. It is also among the best 20 countries globally in half of these axes. The UAE came in third place globally in the axis of efficient goods market, which is the sign of success of the diversification policy of the economy in the state, clarity of vision and strategic plans on the performance and efficiency of the business market.
“It also came in fourth place globally in the infrastructure hub. This is an indication of activity in infrastructure projects across the country and its role in supporting the UAE economy in all areas and sectors, making it an attractive environment for investment and business at the regional and global level.”
The Global Competitiveness Report has been issued since 1971.
original article from 7days.ae