The UAE ranks as the top stable economy globally

Based on a significant global power survey, the United Arab Emirates stands out as the nation boasting the most robust and stable economy, earning its position as one of the world’s foremost “soft powers.”

For the second consecutive year, the United Arab Emirates (UAE) maintains its impressive 10th position in the Brand Finance Soft Power Index 2024, solidifying its status as the sole Gulf country within the top 10 rankings.

This announcement was made by Eliza Jean Reid, the First Lady of Iceland, and Olena Zelenska, the First Lady of Ukraine, during the annual Global Soft Power Summit held in London. The summit saw the participation of numerous world leaders and public figures, with the likes of former British Prime Minister Sir John Major in attendance.

Diversification efforts have significantly lessened the UAE’s oil dependency, pivoting towards sectors like finance, tech, tourism, and green energy, thereby ensuring a resilient economic framework. Remarkably, the nation’s non-oil foreign trade surged to AED 3.5 trillion ($953 billion) in 2023, showcasing robust economic dynamics amidst fluctuating global trade landscapes.

The UAE’s leadership enjoys widespread respect, attributed to a foreign policy that blends Emirati values with global peace and partnership initiatives, earning it high marks in the soft power survey. Furthermore, its strategic foresight is evident in its third-place ranking for ‘Future Growth Potential,’ highlighting its commitment to innovation and technological advancement.

Media efficacy and the narrative of development have been pivotal in bolstering the UAE’s image, complemented by its success in hosting major events like EXPO 2020. These endeavors not only reinforce the UAE’s logistical prowess but also its intrinsic values of generosity and international cooperation, as demonstrated by its humanitarian engagements worldwide.

The nation’s diplomatic influence and business-friendly environment are well-recognised, with notable rankings in the Brand Finance Report 2024. Legislative advancements and strategic investments in technology and innovation form the basis of the UAE’s ambition to be a global attraction for forward-thinking industries.

Security and sustainability are other areas where the UAE shines, providing a safe, high-quality life for its residents and visitors while emphasising green initiatives and sustainable urban development. The country’s branding valuation leap to $1 trillion highlights its growing prestige and the effective embodiment of its soft power capabilities.

In essence, the UAE’s consistent high performance across various soft power metrics underpins its evolving role as a dynamic, influential player on the global stage, committed to fostering sustainable growth, innovation, and international cooperation. The Brand Finance Soft Power Index, using its comprehensive assessment methodology, continues to provide valuable insights into the shifting dynamics of global influence and reputation.

Original article reference: Property News.

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