The United Arab Emirates (UAE) has been ranked as the world’s second most economically stable country, according to a study by US News & World Reports. This great achievement is attributed to several factors such as friendly, pro-business environment with easy access to capital, a skilled labor force, constant drive for innovation, steady flow of foreign investment, unique geographical location of the country and strong leadership of the UAE government. The UAE boasts a per capita GDP on par with leading Western European nations, making it the most competitive economy in the Arab world. With a total GDP of $508 billion and a per capita income of $87,729, the UAE aims to reach a GDP of Dh3 trillion by 2030.
The UAE’s remarkable economic growth and stability are underscored by its impressive 7.9% GDP growth in 2022. Additionally, its sovereign wealth funds which hold trillions of dirhams worth of assets, serves as a buffer against global economic volatility. This economic success puts the UAE in a strong position on the global stage. As the country continues to pursue its diversification strategies, it also encourages foreign direct investments and embraces the Fourth Industrial Revolution to ensure a prosperous economic future. Notably, Switzerland holds the top spot as the most economically stable country in the world, UAE is the second, with Canada, Germany, Japan, Sweden, Australia and other nations following in the rankings.
Looking for unparalleled business opportunities in the UAE? Want to discover more about the UAE’s thriving economic landscape? Drop us an email (office@alphaprimedwc.ae) or give us a call (+97158 515 2374) for advice on how to be a part of the UAE’s remarkable success story.
