A new report from the London-based Legatum Institute has ranked the UAE as the top Arab country in terms of life satisfaction and well-being.
The report also cited the UAE as one of the top countries surveyed for safety and security with 92% of those questioned saying that felt completely safe in the Emirates.
What we’ve learned from the report
In-depth analysis and extensive research is undertaken to produce the annual report.
Eight key factors are taken into account: economy, governance, heath, safety and security, social capital, personal freedom and entrepreneurship and opportunity.
There were improvements in the economy too as the UAE moved up from 13th position to 10th in the world from 2013’s report.
The UAE ranked 22nd in the table of the lowest rates of unemployment with only 3.8% of its workforce being unemployed.
How does the UAE compare to other countries?
The Legatum Prosperity Index gives us substantial insight into where prosperity is concentrated across the world and how this is changing.
Now coming into its eighth year, the Index surveys 142 different countries that account for 96% of the global population and 99% of the world’s wealth.
Norway maintained its position as the world’s most prosperous country for the sixth year in a row. The UAE came in at 28th in the overall rankings.
Will anyone be surprised by these findings?
To those familiar with the Emirates and to expats who live and do business there, I’m sure the results of the Legatum Institute Report won’t come as much of a shock. On the ground we continue to see good progress in all eight factors looked at in the report.
I recently blogged about top industry experts at the Boao Forum for the Asia Financial Cooperation Conference said that the UAE was a shining example of economic possibility to China and the rest of the Arab world.
I often say that the most telling feature of the UAE’s economic success is the fact that expats from all over the globe wish to come and do business there.
James Swallow is Commercial Director of Middle East based PRO Partner Group. PRO Partner Group specialises in providing foreign investors with a seamless and financially efficient means to setting up a profitable corporate presence in the UAE, Qatar and Oman.