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The UAE is the most “future-ready” country in the region according to Newsweek’s Futures Possibilities Index (pdf), which ranked it 23rd globally. The report launched at the UAE pavilion during the World Economic Forum in Davos, Switzerland, on Monday.
How it works: The FPI uses a combination of primary and secondary research, including a survey of 5k execs, to evaluate how 70 countries are prepared to capture six “transformational” business trends based on government strategy and policy, industry strength, and core capacity over the next 5-10 years.
Leading in government strategy and core capacity:The UAE ranked first globally in creating a future-oriented strategic and policy environment, noting the country’s preparedness through initiatives like Centennial Lab, and innovation hubs like G42. The country secured the ninth position in overall core capacity, claiming the top spot in six key strengths: providing flexible employment, attracting and retaining talent, and excelling in rapid ICT connectivity, mobile broadband, internet usage, and responsive governance.
In the six transformational trends,the UAE was fifth globally under the wellbeing economy trend, 10th in exabyte economy, and eighth in circular economy with initiatives like the circular economy strategy. It also claimed ninth spot in biogrowth economy rankings, which track advanced nature and science-led technologies, 13th place in experience economy, and 19th in net zero economy.
What the UAE needs to focus on:The country should invest more in R&D, especially in green hydrogen, solar, and nuclear capacity, and promote collaboration between universities and industries, the report reads. The UAE could also do more to attract more purpose-driven companies, leverage its flexible talent pool, as well as boost its export capacity to seize more global opportunities.
More on the FPI: The report was born out of a 2023 partnership with the UAE government, Newsweek Vantage International, and insight agency Swiss Horizon Group.
