Abu Dhabi: The value of workers’ compensation in the UAE increased to Dh60 billion in the first nine months of 2018, up 9.5 per cent from Dh54.8 billion in the same period of 2017.

According to international standards, the workers’ compensation includes salaries, wages, allowances, bonuses, travel tickets, health insurance, and end of service benefits, commissions, pensions and social assistance.

The continuous growth in workers’ compensation, according to Ministry of Finance statistics, reflects the good living standard offered to citizens, residents and social welfare in general, which has made the UAE eligible for an international standing in the indices of financial institutions specialised in measuring the standard of living and prosperity globally.

The UAE ranks first in the world in 50 indicators according to the 2017-2018 Global Competitiveness Index in many vital community, service and other sectors. The UAE ranked first among the most prosperous countries in the Arab world, based on the Legatum Prosperity Index issued by the British Legatum Foundation 2017, which is one of the oldest institutions in measuring and monitoring the prosperity and welfare of communities.