Dubai ranked first in the Arab world and 11th globally in ‘Future Readiness’ in 2019, according to the “Global Competitiveness of Talent” report issued by the Institute for Administrative Development in Switzerland in cooperation with the Dubai Competitiveness Office in the Department of Economic Development (DED).
The report evaluated various cities worldwide around three main axes - investment in developing local talent; future readiness based on currently available talent, and future readiness as a magnet for international talent.
Dubai ranked second in the Arab world and 16th internationally in attracting global talent in the report. Moreover, Dubai stood 11th internationally in the availability of future talent and seventh in terms of foreign students per 1,000 population. Notably, Dubai achieved outstanding results in almost all of the 10 sub-indices of the global talent axis of the report including: foreign talent operating within the city, standard of living, protection of individuals and property, and the rate of personal income tax.
"The Dubai Competitiveness Office works with local and international partners to support sustainable development, strengthen the role of the private sector, and enhance overall competitiveness to position Dubai as a preferred city," said Hani Al Hamli, director general, Dubai Competitiveness Office.
"Our efforts are aligned with the strategic initiatives and directives of the Government of Dubai, notably the Mohammed bin Rashid Centre for Future Research, Dubai 10X, Dubai Future Foundation, AREA 2071, and Dubai Future Academy to make Dubai future-ready."
Al Hamli added that Dubai’s top ranking in future-readiness validated the efforts of the Government of Dubai to move towards a knowledge-based economy by attracting talented entrepreneurs and encouraging them to invest in innovative and strategic initiatives.
"Initiatives like the Gold Card permanent residency scheme for investors, entrepreneurs and talented students as well as the region’s first Virtual Commercial City that seeks to provide commercial licences without requiring residency will contribute significantly to raising Dubai's ranking in the Global Competitiveness of Talent in the coming years.
“The focus on attracting global talent will continue to enhance Dubai’s prestige globally. Consequently, more and more innovators and entrepreneurs will choose to live and work in Dubai thus adding substantial value to the gross domestic product (GDP) in Dubai," Al Hamli said.
"The Global Competitiveness of Talent report proves that Dubai is cementing its position internationally as an ideal destination for competitive business, prosperous living and sustainability," said Al Hamli, adding that the report, which includes a survey of 63 global economies, underlines Dubai's efforts to develop policies that attract and nurture talent.
The Dubai Competitiveness Office provides relevant reports and conducts workshops for government agencies and business communities in Dubai to prepare them for future opportunities and challenges in sustaining competitiveness. The Office also promotes knowledge sharing between various sectors to unify trends that can be translated into initiatives and solutions to achieve competitiveness and a sustainable economy in Dubai. – TradeArabia News Service