According to Kearney's 2023 Foreign Direct Investment Confidence Index (FDICI), the UAE has been ranked as the top emerging market worldwide, third in the Middle East and North Africa as a whole, behind China and India.
According to the index, Qatar (ranked fourth), Saudi Arabia (ranked sixth), Egypt (ranked fourteen), Turkey (ranked fifteen), and Morocco (16th) are other Middle Eastern economies that appear on the list of the top 25 emerging markets.
In the index's 25-year history, an exclusive ranking for emerging markets has never been included before. According to Kearney, this is done to give business leaders information on which emerging markets are most attractive to investors.
“The UAE remains an exceptionally attractive destination for investors, particularly in light of the launch of the Dubai Economic Agenda (D33) — an $8.7 trillion economic plan to boost trade, investment and promote its status as a global hub,” said Rudolph Lohmeyer, partner at national transformations institute, Kearney Middle East.
Launched in January, the D33 strategy aims to catapult Dubai into the world’s top cities by economic strength in the next 10 years and involves a programme to help 30 private companies to achieve unicorn status ― companies worth more than $1 billion. It aims to establish the emirate in the top three global cities.
Discover the wonders of Palm Jebel Ali, a remarkable man-made island by Nakheel Properties, offering a luxurious and unique living experience in Dubai.
In the first quarter of 2023, Dubai's luxury home sales reached Dh6 billion ($1.63 billion), with wealthy buyers purchasing 88 units valued at more than $10 million as prime property sales continued to increase amid a broader economic recovery.