Sign in
Sign up
The UAE ranked 1st in its region and 3rd in the world after China and India among the world's emerging markets, according to the Kearney FDI Confidence Index (FDICI) for 2023.
Other Middle Eastern countries included in the list of the 25 largest emerging markets in the world are Qatar (4th place), Saudi Arabia (6th place), Egypt (14th place), Turkey (15th place) and Morocco (16th place).
For the first time in the 25-year history of the index, a separate exclusive rating for emerging markets was applied to provide business leaders with information about emerging markets that are most attractive to investors.
"The UAE remains an exceptionally attractive place for investors, especially in light of the launch of the Dubai Economic Development Program (D33), an economic plan worth $8.7 trillion to stimulate trade, investment and strengthen the country's status on the world stage", said Rudolf Lohmeyer, representative of the National Institute for Transformation Kearney Middle East.
The UAE Central Bank estimates that after growing by 3.9% in 2021, the UAE economy grew by 7.6% in 2022, which is the highest in 11 years. For the current year, the growth forecast remains at 3.9%, and in 2024 an increase of 4.3% is expected.
The UAE's non-oil foreign trade sector, including the real estate sector, where foreign investors and home buyers actively operate for their own living, reached a record estimate of 2.23 trillion AED ($607.1 billion) last year. This success is due to the conscious efforts of the government, as the Emirates are taking measures to reduce their dependence on hydrocarbons and strengthen economic partnership with the rest of the world.
