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New Details

UAE Tops' Strong And Stable Economy' Indicator And Holds 10th Place In Brand Finance Soft Power Index 2024

Published on : 07-03-2024

UAE Poses As A Model Of Sustainable Economic Growth And Diversification

The United Arab Emirates (UAE) has achieved remarkable recognition on the global stage. It secured the first position in the 'Strong and Stable Economy' indicator while maintaining its 10th Place ranking in the Brand Finance Soft Power Index 2024 for the second consecutive year. The UAE is the sole Gulf nation among the world's top 10 soft powers.

This significant announcement unfolded during the Annual Global Soft Power Summit in London, where a distinguished group of global leaders and public figures convened. Former British Prime Minister Sir John Major, Eliza Jean Reid (the First Lady of Iceland), and Olena Zelenska (the First Lady of Ukraine) were among them.

The UAE's trajectory within the global index has been nothing short of impressive. Surveying over 170,000 individuals to assess the 193-member states of the United Nations, the UAE consistently climbed the ranks, solidifying its reputation as a key player in shaping global perceptions.

One of the UAE's standout achievements lies in its performance on the Brand Finance Soft Power Index over the years. This consistency underscores the nation's enduring influence and reputation on the world stage.

A Model of Sustainable Economic Growth and Diversification

 The UAE's success story extends beyond soft power. It serves as a model for sustainable economic growth and diversification. In recent years, the country has strategically reduced its dependency on oil as a primary revenue source. Instead, it has fostered the development of other critical sectors, including tourism, technology, renewable energy, and financial services.

This diversification strengthens the UAE's economy and shields it from oil price fluctuations. Moreover, it paves the way for new avenues of growth and advancement. Notably, the UAE’s non-oil foreign trade reached an unprecedented Dh3.5 trillion in 2023, a remarkable milestone achieved despite the global downturn in international trade.

As home to major international companies and promising firms across various sectors, the UAE continues demonstrating proactive and influential leadership. Its commitment to advancing global peace and development remains unwavering, making it a beacon of regional and global progress.

Furthermore, the UAE's strategic vision for investments and future opportunities—particularly in innovation and technology infrastructure—positions it well for continued economic, scientific, and social growth. The battle for excellence has just begun, and the UAE remains at the forefront of shaping a dynamic and prosperous future.

This diversification creates fresh opportunities for growth and advancement while fortifying the economy and protecting it from changes in the price of oil.

Additionally, prior data indicates that the UAE's non-oil foreign commerce increased dramatically in 2023, surpassing Dh3.5 trillion—a record high for the country's economy—despite the worldwide decline in international trade. Major multinational corporations and promising businesses in various industries are found in significant and increasing numbers in the UAE.

Internationally Admired Leaders (10th Place)

The UAE's leadership has earned global acclaim through a balanced foreign policy. By promoting Emirati values, fostering peace, and enhancing diplomatic relations with countries worldwide, the UAE has solidified its position as an active partner in advancing global peace and development.

Future Growth Potential (3rd Place)

The UAE's strategic vision extends to investments and future opportunities across vital sectors. Notably, innovation and technology infrastructure development play a pivotal role. This forward-looking approach strengthens the UAE's capacity to explore new economic, scientific, and social horizons. Moreover, it positions the country as a leading destination for attracting global investors and top talent.

Global Audience Engagement (10th Place)

The UAE effectively communicates its achievements across all sectors through its media outlets and institutions. This robust media presence has contributed to building a positive international image for the UAE. Notably, hosting the prestigious EXPO 2020 and organizing specialized events across various sectors further enhance the UAE's reputation as a promising economic growth and tourism destination.

Generosity (3rd Place)

The UAE's commitment to helping others is reflected in its high ranking in the 'Generous' indicator within the Soft Power Index. The UAE supports countries and peoples worldwide through numerous humanitarian initiatives and aid.

Influence in Diplomatic Circles (8th Place)

The UAE's active diplomacy and engagement with international organizations have positioned it as an influential player globally. The UAE is pivotal in diplomatic circles by contributing positively to global peace and stability.

Business and Trade Image (10th Place):

The UAE's achievement lies in cultivating a supportive business and investment environment. Comprehensive and advanced legislation implemented in recent years has effectively addressed regional and global challenges, solidifying the UAE's reputation as a resilient nation.

Technology and Innovation Hub (8th Place):

Demonstrating unwavering dedication, the UAE pioneer in technology and innovation. Investments in education, scientific research, financial technology, artificial intelligence, and advanced space industries reinforce its status as a global hub for innovation.

Safety and Security:

The UAE placed ninth in the world in the "Safe and Secure" criterion, demonstrating its high standard of living and its capacity to offer citizens and tourists a secure and model environment.

The accomplishment in this area results from committed efforts to create a top-notch security and law enforcement framework essential to maintaining social order and creating a sense of security in all spheres of society.

Exceptional Sustainability Performance

The United Arab Emirates has demonstrated exceptional performance in several sustainability measures, placing ninth in the world in the "Sustainable cities and transport" index and eighth in the "Invests in green energy & technology" index.

The leadership of the UAE has announced that the Year of Sustainability will continue until 2024. This illustrates the nation's continued dedication to sustainability, particularly given the noteworthy results and accomplishments of COP28.

Index of National Brand Value

In just three years, the value of the UAE's national brand increased dramatically from $700 billion to a trillion dollars, securing the nation's top spot as the most valuable national brand in the Middle East and Africa.

An extensive evaluation of a nation's soft power influence around the world is offered by the Brand Finance Soft Power Index. Over 170,000 respondents from the 193 UN member states were polled for the index.

 

The Brand Finance report examined 55 primary and secondary indicators to gauge a nation's favorable reputation and capacity for positive change, as well as to gauge public opinion and perceptions worldwide regarding a range of topics, such as the investment climate, goods and services, living, working, studying, and visiting.



News Source : Khaleej Times

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