The country’s performance this year saw an increase in 12 different indicators and sub-indicators according to the fifth edition of the report. Image Credit: Corbis

Dubai: The IMD World Talent Ranking 2018 has ranked the UAE 26th globally and second in the Middle East region.

The country’s performance this year saw an increase in 12 different indicators and sub-indicators according to the fifth edition of the report.

Globally, Switzerland maintained its number one position for the fifth consecutive year, it was closely followed by Denmark and Norway, Austria and the Netherlands respectively.

While Canada was ranked 6th, Finland was at 7th position followed by Sweden (8th), Luxembourg (9th), and Germany (10th) to complete the top 10.

IMD is an independent business school, with Swiss roots. According to its latest talent ranking report, the UAE ranks 4th globally in availability of skills and competencies in the talent pool. Additionally, the country ranks 5th worldwide in the Appeal index, which measures the extent to which a country taps into the overseas talent pool.

“The UAE’s performance saw an improvement in a number of indicators of the World Competitiveness Talent Ranking 2018. This is a clear indication to the fact that the UAE is increasingly attracting talent and skills from around the world,” said Professor Arturo Bris, Director of the IMD World Competitiveness Center.

The report also finds that the overall UAE performance is very strong in the “Foreign highly-skilled personnel” sub index, which ranks how attracted the international workforce is attracted to a country’s business environment. Additionally, the significance of the International experience of senior managers, the availability of competent senior manager, and skilled labour are other indicators that have contributed to the UAE performance. Another point which is of great significance is student mobility inbound.

“The UAE’s ranking (26th globally) reflects the positive impact of the UAE’s development strategy to build a robust national economy, fuelled by education and a robust business landscape, in order to contribute to enhancing the UAE’s performance on a regional and international level, as well as increase its competitiveness, “ said Professor Bris.

IMD World Digital Competitiveness Ranking 2018 studies 63 economies. This year the majority (29) of countries in the study experienced an improvement in their level of digital competitiveness. About 40 per cent of the sample (26 countries) show a decline, while only eight economies remain in the same position.

Overall, 12 indicators saw an improved performance. These include: readiness, labour force growth, skilled labour availability, International experience, brain drain, availability of competent senior managers, educational system, language skills, attracting and retaining talents, effective personal income tax rate, total public expenditure on education, female labour force.

In the Middle East region, Qatar was ranked 24th and the UAE, 26th. On the other hand, compared to 2017, the UAE and Qatar both lose one and two positions respectively.

“Through analysing the details of the UAE performance in the 2018 World Competitiveness Talent Ranking, we can see that the UAE government has shown great interest in attracting and building a skilled workforce, one that has knowledge, skills and expertise. As well as creating a work environment that attracts them to work in various fields to effectively contribute to building a sustainable economy,” said Professor Bris.

In the global ranking Saudi Arabia was ranked 34th and Jordan 41st. Saudi Arabia experienced a drop of eight places from last year. This result is explained by rising concerns about the education system and the quality of the available talent pool, in addition to the partial decrease in labour force growth.