UAE second most competitive market in Arab world
The UAE rose eight spots to 23 in the in the World Economic Forum’s…
September 9, 2009 12:01 by kippreport
The UAE rose eight spots to 23 in the World Economic Forum’s annual Global Competitiveness Report 2009, making it the second most competitive market in the Arab world after Qatar.
Qatar, which climbed four spots to 22, topped Arab counties listed in the WEF’s report. Saudi Arabia was ranked 28, followed by Bahrain (38), Kuwait (39) and Oman (41).
The study surveyed 133 economies worldwide.
“Amid the present crisis, it is critical that policy-makers not lose sight of long-term competitiveness fundamentals amid short-term urgencies,” Xavier Sala-i-Martin, professor of economics at Columbia University and co-author of the report, said in a statement.
“Competitive economies are those that have in place factors driving the productivity enhancements on which their present and future prosperity is built,” he added.