Mashable: The United Arab Emirates (UAE) has climbed three spots to secure 7th place globally in the 2024 World Competitiveness Report, surpassing countries such as Norway, Iceland, Japan, Canada, and Finland, announced the government media office on Tuesday.

The World Competitiveness Report evaluates nations based on four primary pillars and 20 sub-pillars encompassing economic, administrative, and social domains, including government efficiency, education quality, and innovation capacity.

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Having entered the Top 10 last year, the UAE has demonstrated exceptional performance in 2024, particularly excelling in categories such as employment rate, internet accessibility, and effective resolution of industrial disputes. The nation also ranked second globally in the adaptability of government policies, tourism revenues, and minimal bureaucratic hurdles.

Notably, the UAE secured third place worldwide in categories like capital and property tax collection, immigration policies, urban management, and government budget surplus percentage. It further ranked fourth in controlling consumer price inflation, managing long-term unemployment, enhancing overall productivity, and regulating labor practices.

The #UAE moved up reaching the seventh place globally in the 2024 World Competitiveness Report. The UAE is also among the top countries in more than 90 key and sub-indicators. pic.twitter.com/YCoxCFhhVy — UAEGOV (@UAEmediaoffice) June 18, 2024

The country's infrastructure achievements were also highlighted, particularly in air transportation quality, energy infrastructure reliability, science graduates output, start-up facilitation, unemployment regulations, recruitment of highly skilled international talent, and promotion of national culture.

A new chapter in the UAE’s cultural journey unfolds with its re-election to the UNESCO’s Intergovernmental Committee for the Safeguarding of Intangible Cultural Heritage. ⁰This achievement highlights the nation’s significant successes in registering many elements of this… pic.twitter.com/kl7ldpQMC1 — Latifa MR Al Maktoum (@LatifaMRM) June 12, 2024

The IMD World Competitiveness Report, established in 1989, serves as a comprehensive global benchmark assessing countries' capacities for sustainable long-term value creation through detailed analysis and statistical surveys.

Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, expressed gratitude to all government, economic, and developmental sectors, emphasizing their collective dedication to advancing the UAE's progress on the global stage.