Dubai is the most powerful city in the Middle East region and eighth globally in attracting people, capital and companies from around the world, said a new report.
According to the latest report released by Mori Memorial Foundation’s Institute for Urban Strategies in Japan, Dubai’s ranking jumped three positions to 8th in the Global Power City Index 2023.
“We express our gratitude to all that contributed to this achievement. To all Dubai’s team and its community: We are fortunate to have a visionary leader dedicated to excellence,” said Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai.
“Dubai consistently aims for the top, as our ambitions have no limits. Through the collective efforts of Dubai’s community, teams, and partners, we can shape Dubai into the epitome of a global futuristic city,” he said on social media platform X, formerly Twitter.
The Mori Memorial Foundation’s Institute for Urban Strategies report’s five major aspects for methodology cover economy, R&D, cultural interaction, livability, environment and accessibility.
Sheikh Hamdan urged both the private and public sectors to persist in their efforts to establish Dubai as a sustainable development model that places the development of people’s capabilities and enhancing their quality of life at the forefront of its priorities.
“To cement Dubai’s position as a global economic powerhouse and its role as a catalyst for growth, we must cultivate world-class working environments that empower our national talent and attract the brightest minds from across the globe. This commitment to excellence will propel comprehensive development, establishing Dubai as a global benchmark for sustainable economic prosperity and resilience,” he added.
Dubai government and its entities have announced a host of measures to improve investor sentiments as well as to attract foreign direct investment, best talent and top companies from around the world.
The emirate earlier this year announced a mammoth plan – D33 – to rank it among the top four global financial centres and increase FDI to over Dh650 billion over the next 10 years. The emirate’s GDP grew by 2.8 per cent in the first quarter of 2023 to Dh111.3 billion.
Dubai tops in multiple indexes
Dubai was ranked first in a number of sub-indexes issued in the report including low corporate tax rate, low unemployment rate, workstyle flexibility, satisfaction with city cleanliness and average driving speed.
Motorists can get nearly 50km per hour average driving speed in Dubai, providing faster connectivity and accessibility to the residents as compared to people in Amsterdam, Johannesburg, Los Angeles, Frankfurt, Stockholm, Hong Kong, Tokyo, New York, Paris and other cities.
The city was ranked second in number of hotel luxury rooms, fourth in international freight flows, fifth in number of cultural events, tourist attractions and cities with direct international flights.
“Dubai, which joined the top 10 cities for the first time, saw its scores rise particularly in cultural interaction and accessibility. Dubai’s growing international presence is well reflected in this year’s results, with improvements in the number of international conferences, foreign visitors, and air passengers,” said the report.
Globally, London topped the Global Power City Index 2023 followed by New York, Tokyo, Paris, Singapore, Amsterdam, Seoul, Dubai, Melbourne and Berlin.