The UAE has been placed first in the world by the Global Entrepreneurship Monitor (GEM) in its Global Entrepreneurship Index 2022, which was released this week. To achieve this feat, the UAE moved three spots from fourth place in last year’s survey, outperforming other prominent global economies analyzed in the report. With a score of 6.8, the UAE came out on top in the overall rating of the index. In a study conducted by the report, the UAE was also named the number one global destination for creating and starting enterprises, with the most favorable climate for entrepreneurship.
“This prestigious achievement can be attributed to the UAE’s wise leadership’s unconditional support and forward-looking vision. The UAE is entering the next 50 with the accomplishment of this achievement, by being at the forefront of global economies through the development of an exemplary entrepreneurship system and a highly enabling environment for companies,” said Abdullah bin Touq Al Marri, Minister of Economy. “We are proud of this achievement, which is the result of our wise leadership’s long-term vision, which has placed the entrepreneurship sector at the forefront of the UAE’s development priorities and economic vision, and the global leadership that the country has achieved today confirms the soundness of this approach, the strength of government economic policies, and the efficiency of the private sector, particularly the success rates enjoyed by the entrepreneurship sector,” he continued.