The United Arab Emirates has been ranked first globally for the third consecutive year in the Global Entrepreneurship Monitor (GEM) 2023/2024 report, achieving a score of 7.7, a record high for the first time in the report's history since its launch, surpassing many advanced economies. Additionally, the UAE has been classified as the best place in the world to start and operate new businesses.
According to the report, the UAE secured the first place globally in 12 out of 13 indicators, including entrepreneurial finance, ease of access to funding, market entry ease, commercial and professional infrastructure, research and development and knowledge transfer, flexible regulations and legislation, entrepreneurial government programs, supportive government policies and programs, government policies related to taxes and bureaucracy, entrepreneurship education in schools, entrepreneurship education in universities, and cultural and social standards. The country ranked third globally in the physical infrastructure indicator.
The report noted that "the UAE has made significant investments to enhance the competitiveness of its entrepreneurial environment, doubling early-stage entrepreneurial activity levels. It has also provided ideal support for women entrepreneurs, creating an entrepreneurial and stimulating environment for them while enhancing their access to resources and capabilities, positioning the country among the top 5 economies worldwide for supporting female entrepreneurship."
The Global Entrepreneurship Monitor (GEM) is one of the key global references in entrepreneurship for countries and international organizations such as the World Bank, International Monetary Fund, OECD, WIPO, and UN affiliated organizations.
