UAE named most economically stable country in the world
These rankings reflect both nations' economic performance and global perception
Dubai: The UAE has been recognised as the most economically stable country globally, topping a list of 89 nations in the latest rankings by US News & World Report.
The UAE's success is attributed to its low manufacturing costs, favorable tax environment, minimal bureaucracy, absence of corruption, and transparency in government practices, allowing it to outpace long-time economic leaders.
Following closely in the rankings are Germany, Canada, Japan, Australia, Sweden, Denmark, the Netherlands, and Saudi Arabia, which have made significant strides in various economic parameters.
In a tweet celebrating the occasion, Lt. General Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Interior, stated: “The UAE ranks first in the world for economic stability, according to U.S. News. This top classification is based on our sustained commitment to maintaining low manufacturing costs, creating a favorable tax environment, reducing bureaucracy, ensuring no corruption, and upholding transparency in government practices."
These rankings are part of the US News Best Countries rankings, now in their ninth year, developed in partnership with the Wharton School of the University of Pennsylvania and global marketing services firm WPP.
The rankings not only reflect the economic performance of nations but also how they are perceived on the global stage. Countries were evaluated across ten thematic subrankings, including Adventure, Open for Business, and Quality of Life. The UAE's top score in economic stability falls under the 'Open for Business' subranking, which factors in elements like tax rates and government transparency, crucial for attracting global business and investments.
This year's methodology involved surveying nearly 17,000 individuals from around the world, including informed elites, business decision-makers, and the general public. The survey assessed countries on 73 attributes relevant to the success of a modern nation, such as technological readiness and business friendliness.