UAE ranks 1st globally in Global Entrepreneurship Monitor report for 4th year
2 Apr 2025 14:54
ABU DHABI (WAM) The United Arab Emirates has ranked first globally for the fourth consecutive year in the Global Entrepreneurship Monitor (GEM) Report 2024/2025.The report also ranked the UAE as the best place for entrepreneurship and small and medium-sized enterprises among 56 economies assessed this year.The UAE secured the top position among high-income countries in 11 out of 13 key indicators based on expert assessments of institutional frameworks supporting the entrepreneurial environment.The areas in which the UAE excelled globally included: entrepreneurial finance, ease of access to funding, government policies supporting entrepreneurship, government policies on taxes and bureaucracy, government entrepreneurship programmes, entrepreneurship education at school level and post-school level, research and development transfer, commercial and professional infrastructure, ease of market entry in terms of regulatory burdens, and social and cultural norms related to entrepreneurship.Minister of State for Entrepreneurship, Alia bint Abdullah Al Mazrouei, said the achievement reflects the results of the UAE's forward-looking vision, supported by the guidance of its wise leadership, to build an integrated entrepreneurship and SME ecosystem.She added that the UAE's continued recognition as the top environment for entrepreneurship and the leading destination for startups globally for the fourth year in a row represents the country's regional and international progress.She noted that this accomplishment demonstrates the UAE's commitment to providing an attractive and impactful entrepreneurship climate aligned with global best practices, enabling startups to grow in advanced and digital economic sectors, and offering financing initiatives and solutions that support the country's positioning as a global hub for the new economy by the next decade, in line with the objectives of the "We the UAE 2031" vision.The report highlighted that the UAE's entrepreneurial environment continues to flourish and advance globally, supported by business-friendly policies, distinguished government initiatives and a competitive investment climate. One of the key contributing factors to this success was the UAE's investment of $8.7 billion to boost innovation and the growth of small and medium-sized enterprises as part of the Projects of the 50 initiative.The report also cited the allowance of 100 percent foreign ownership of companies and the consistent increase in foreign direct investment, which reached record levels in 2023.It further pointed out that the entrepreneurial culture in the UAE is marked by high awareness and ambition among the population. Approximately 67 percent of adults know an entrepreneur or believe they have the necessary skills to start a business.Meanwhile, 70 percent of Emiratis see strong opportunities to launch a business locally, 78 percent of new entrepreneurs prioritise social and environmental impact over profit, and 75 percent of early-stage entrepreneurs plan to expand their teams and employ at least six people in the next five years.Furthermore, 80 percent intend to integrate digital technology into their business operations, 78 percent are motivated to generate high income or wealth, and 55 percent of entrepreneurs serve customers outside the UAE, strengthening the country's position as a global centre for business and investment.The UAE was also ranked first globally in the same report under the GEM's National Entrepreneurship Context Index (NECI), which assesses each country's supportive environment for entrepreneurship based on scores derived from national experts' evaluations.
This supports the UAE's vision to reach one million SMEs by 2031.
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