Dubai has the most competitive economy in the Middle East and ranks higher than many global heavyweights, a new report by the Industrial Policy Studies department of the National University of Seoul, South Korea, has found.
According to the National Competitiveness report 2009, Dubai outstripped its regional neighbours and rival emirates to be crowned the most competitive economy in the Middle East, news that may well be of interest to those considering buying commercial property in Dubai.
The emirate also outstripped other major global economies such as those of Japan, Germany, France and New Zealand.
Commenting on the achievement, Adel Al Falasi, executive director of the Dubai Competitiveness Council, said that this was a key step in solidifying the emirate's position as a global financial hub.
"The Dubai Competitiveness Council is trying to identify specific models and set of indexes for assessing competitiveness of cities and regions, which will enable us to target and address the obstacles to Dubai's global competitiveness," he added.
The establishment of the council was announced in February 2008.