This article is written and produced by Auxilium, one of the GCC’s leading Employer of Record and outsource staffing solutions providers

The IMD World Competitiveness Yearbook is a comprehensive annual report and worldwide reference point on the competitiveness of countries. It provides benchmarking and trends, as well as statistics and survey data based on extensive research.

In its 2022 edition, the UAE is ranked as the most competitive country in the Arab world, with fellow GCC countries also featuring strongly in the rankings, which compare the legal, regulatory, and tax frameworks of countries.

The UAE was also ranked as the eighth most competitive economy in the whole of Europe, the Middle East, and Africa, behind the top seven of Denmark, Switzerland, Sweden, Netherlands, Finland, Norway, and the Republic of Ireland. Denmark is ranked as Number One in the rankings for the first time since the publication was launched in 1989.

In the overall competitive rankings, the UAE was listed 12th out of 63 nations, while for the key four individual competitive criteria it ranked as follows:

- Economic Performance: 6

- Government Efficiency: 3

- Business Efficiency: 17

- Infrastructure 26

The UAE also featured well in a recent supply chain survey by Agility, a global leader in supply chain services, where the nation was ranked 3rd overall behind China and India, and featured in the top 10 in all criteria categories, including domestic logistics, international logistics, business fundamentals, and digital readiness.

The UAE continues to be a top destination for business start-ups and for companies looking to expand their global footprint, as well as for talented ambitious professionals looking for their next career move.

The country’s continual regulatory development makes it increasingly easy for businesses to become established, and there are also many initiatives to help small businesses and start-ups, while new visa schemes make it easier to live and work in the country.

However, organizations will need to remember that operating a business in a new territory will mean understanding and managing national regulatory, administrative and compliance functions, both as a business operator and as an employer. Always seek professional advice and support when exploring establishing or expanding a business in new territories.

Talk to Auxilium

If you are considering expanding your business into the UAE, or if you are looking to recruit international talent to help grow your business, then you should talk to Auxilium, one of the leading EOR and outsource staffing solutions providers in the GCC Region. We help organizations to expand and to recruit staff in the UAE, Qatar, Bahrain, Saudi Arabia, Kuwait and Oman.

For more information on employer of record and outsource staffing services, please contact the Auxilium Team.

Data relating to IMD World Competitiveness Listings is copyright of IMD. More information on the listing is available from The IMD World Competitiveness Center, Switzerland, www.imd.org/wcc

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