Dubai world trade center

An annual report on Dubai’s economic competitiveness ranks the emirate the first in the Arab world and third best globally in terms of “economic performance,” UAE state news agency WAM reported Saturday.

The Dubai Competitiveness Report 2018, published by Switzerland-based International Institute for Management Development in cooperation with the Dubai Competitiveness Office of the Department of Economic Development, placed Dubai ahead of Canada, Japan and Singapore, as well as all EU countries excluding Luxembourg.

Moreover, the business metropolis of the United Arab Emirates (UAE) ranks first globally in Gross Domestic Savings (percentage of GDP), and boasts the second lowest unemployment rate.

Commenting on the report, Dubai Crown Prince Sheikh Hamdan Bin Mohamed hailed Dubai’s “unique experience of ambitious people and a pioneering government,” and highlighted the private sector as the key to achieving the desired future. Enditem

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