The UAE ranked second in the world in economic stability

In a recent report from the US media company, US News & World Reports, the UAE ranks second after Switzerland in having the most economically stable economy in the world. The Emirates came in first place as having the most competitive economy of any other Arab country.

In order to determine the level of economic stability in a country, the ranking takes into account the availability of skilled labour, the economy’s ability to adapt, its competitiveness, the level of developed trade and how favourable the business environment is.

The GDP of the UAE is approximately AED 1.86T (USD 508B), while the per capita GDP is about AED 322K (USD 88K). These figures are roughly the same as those in leading Western European countries, according to US News & World Reports. The UAE’s GDP increased by just over 22% from 2021-2022, and GDP at constant price (real GDP) increased by nearly 8% during that same period of time.

One of the reasons the Emirates’ economy is protected from instability is that it has the world’s largest sovereign wealth funds, including Abu Dhabi Investment Authority, Investment Corporation of Dubai and others.

The Emirates is currently working on increasing its GDP to AED 3T (USD 817B) by the year 2030. To achieve this, the government will implement additional diversification strategies,  develop new economic sectors and introduce innovative technology to increase research potential and stimulate direct foreign investment.

A stable and robust economy is one the key factors that compels investors and entrepreneurs from around the world to invest and do business in the UAE. Continued demonstrable growth in economic performance, as well as high global rankings, will only further enhance the Emirates’ attractiveness to foreign investors.

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