The UAE ranks among the top 10 most competitive countries in the world, according to the world competitiveness ranking released by the IMD World Competitiveness Centre recently. The research group at the IMD business school in Switzerland publishes the rankings every year since 1989. The research uses 260 indicators, about two thirds of which include national statistics in such areas as trade and employment and one third is an executive opinion survey of such issues as corruption, environment and quality of life. This year 63 countries participated in the survey with Cyprus and Saudi Arabia making their first appearance.
Last year the UAE was positioned in 15th place, but it has moved by five places. The country has topped the region where Qatar is at 28th position, Saudi Arabia at 36th and Jordan at 56th position. In the first place is Hong Kong that took the top spot for the second year. Switzerland and Singapore came the second and the third. The United States ranks fourth and the Netherlands fifth.
Expectedly the bottom is taken by countries facing economic and political problems, among of which are Venezuela, Brazil and Ukraine.