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 IMD Dubai Competitiveness Report 2018

Over the past years, Dubai has managed to achieve advanced ranking in many regional and global competitiveness reports in all fields. These achievements represent the culmination of outstanding performance and wise policies adopted by the Government of Dubai to develop the model of growth and shift from dependence on the accumulation of production factors to a model based on innovation, leadership and total factor productivity (TFP) within an inspiring business environment and motivating investment climate to enhance sustainable growth and strengthen Dubai's position on the global economy map.

IMD Dubai Competitiveness Report 2018

In May 2018, His Highness Sheikh Hamdan Bin Mohammed bin Rashid Al Maktoum, Crown Prince and the Chairman of the Executive Council launched the 'Dubai Competitiveness Report 2018' issued by the Switzerland-based IMD World Competitiveness Centre in co-operation with the Dubai Competitiveness Office of Dubai Economy. 

According to the stated report, Dubai ranked 1st in the Arab world and 4th worldwide in 'economic performance', ahead of all EU countries (excluding Luxembourg), Canada, Japan, Singapore and Hong Kong. Additionally, Dubai ranked 1st globally in both the 'gross domestic savings' as well as 'employment growth', and 2nd globally in both 'exports of goods' (% of GDP), 'unemployment rate' and 'youth unemployment.' Dubai also ranked 3rd globally in 'employment (%),' 'exchange rates,' 'export concentration by partner,' and 'exports of goods per capita' in addition to being 4th globally in terms of both 'GDP per capita' (by purchasing power parity – PPP) and 'tourism receipts' (% of GDP).

Within the Arab world, Dubai leads on several indicators such as 'direct investment flows inward,' 'forecast inflation,' 'government consumption expenditure–real growth', 'export concentration by partner,' and 'tourism receipts'. Additionally, Dubai has ranked first in the Arab world in terms of government budget (% of GDP), while globally the emirate ranked seventh in government efficiency and third in public finance.

Government efficiency rests on three central axes: economic performance, efficiency of the business environment and infrastructure. Globally, Dubai ranked seventh in government efficiency and tax system, first in terms of government expenditure (% of GDP), and third as a global financial hub, ahead of Singapore, Switzerland and all EU countries except Iceland.

Regarding the adaptability of government policy to changes in the economy and the extent of implementation of government decisions, Dubai ranked third globally. The emirate also ranked first concerning population growth and the number of internet users - 906 users per 1,000 inhabitants - in addition to being third globally in low dependency rates.

Globally, Dubai stands second in the openness of the local culture to new ideas as well as concerning the efficiency of economic and social reforms in the emirate. Dubai's labour force is the third biggest (% of population). The emirate ranked fourth worldwide in productivity in the service sector, ahead of Singapore and Hong Kong. The average number of working hours per year in Dubai is the fifth highest globally.

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