UAE: The UAE ranked first in the Arab World and 25th globally in the Global Competitiveness Report, 2019, released by the World Economic Forum, on Wednesday.
According to the report, which assesses the competitiveness landscape of 141 economies, providing unique insight into the drivers of economic growth, the UAE gained two positions since the last edition.
Launched in 1979, the report provides an annual assessment of the drivers of productivity and long-term economic growth.
The assessment is based on the Global Competitiveness Index, GCI, which maps the competitiveness landscape of 141 economies through 103 indicators organised into 12 pillars.
These pillars are: Institutions, Infrastructure; ICT adoption; Macroeconomic stability; Health; Skills; Product market; Labour market; Financial system; Market size; Business dynamism and Innovation capability.
For each indicator, the index uses a scale from 0 to 100 and the final score shows how close an economy is to the ideal state or "frontier" of competitiveness.
The Global Competitiveness Report is a flagship publication of the World Economic Forum’s Platform for Shaping the Future of the New Economy and Society.