The United Arab Emirates (UAE) ranks first in the entrepreneurship sector according to the Global Entrepreneurship Monitor (GEM) report for the year 2023/2024.
For the first time in history, the UAE achieved the highest-ever score for the index at 7.7, surpassing numerous developed economies on the list.
This is not the first time the UAE ranked first in the GEM report, marking its third consecutive year at the top spot. Ranking first only means that the country is acknowledged as the best place to start and conduct a new business on a global scale.
His Excellency Abdullah bin Touq Al Marri, Minister of Economy, said: “We are proud that the UAE has ranked first in the world in developing the entrepreneurship system and consolidating its position as the economy that most supports entrepreneurship and the first destination for establishing projects and commercial activities.”
The report detailed that the UAE ranked first globally in 12 out of 13 indicates, including “financing entrepreneurial projects, ease of access to financing, ease of entering markets, commercial and professional infrastructure, research and development and knowledge transfer, flexible systems and legislation, pioneering government programs, and government policies and programs.”
