The United Arab Emirates (UAE) ranked 1st globally in terms of low impact of brain drain and availability of skilled labour according to the 2019 World Talent Ranking by the International Institute for Management Development (IMD), the prestigious Swiss business school.
The ranking which covered 63 economies and was based on the performance in three main categories -- investment and development, appeal and readiness and various sub-categories, listed the UAE’s 1st place in categories which include the availability of competent senior managers, financial skills and significance of international experience of senior managers. On the overall ranking of world talents, the UAE came in at 30th place.
The UAE was also among the top ten countries across the world in several other areas.
It ranked 4th globally as a country where employee training is a high priority in companies and apprenticeships are sufficiently implemented.
It also came in sixth place as a country where, according to the report, language skills are meeting the needs of enterprises as well as ensuring that primary and secondary education meet the needs of a competitive economy.
Foreign highly-skilled personnel are attracted to the country's business environment which won the UAE 5th place. It also ranked 6th in the world for having effective personal income tax rate and where worker motivation in companies is high.
Professor Arturo Bris, Director of the IMD World Competitiveness Center said in a press statement that the UAE's performance indicates the genera; positive conditions of the business environment in the country.
"This reflects the high level of expectations among business leaders and institutions regarding the UAE's economy," Bris said.
Hub for talent and businesses
Economist Wajdi Makhamreh said the UAE undertook several measures that made it a genuine hub for businesses and talents.
"It is home to a pool of talent and highly skilled labour due to the incentives that it provides and the lucrative and advanced business environment it has for investors from across the world," he told 7Dnews.
"The UAE is a role model to be followed in the Arab states and across the world…It highly invests in talents, new technologies and taking all needed procedures for business to thrive and flourish," he added.
According to the 2019 ASDA’A BCW Arab Youth Survey, the UAE was ranked as the Arab youth's top country that they would like to live in and the one that they would most like their own nation to emulate for several reasons. These included having a wide range of job opportunities, safety and security, good salaries and it is also widely seen as a good place to raise a family.
Arab youth are also drawn to the UAE by its high quality of education, being welcoming and friendly to expats, having a growing economy, for ease of doing business and possessing a strong cultural heritage and respecting cultural traditions.