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Dubai tops Mideast Cities of the Future list
Dubai has been ranked top of a Middle East Cities of the Future league table based on economic potential, business friendliness, infrastructure and quality of life.
Dubai scored 471 points, the highest among 20 cities in the region evaluated by fDi magazine, part of the Financial Times group.
Jeddah, Abu Dhabi, Manama, Riyadh and Ras Al Khaimah took the next five places in the table.
The Middle East Cities of the Future were ranked according to 76 criteria listed under Economic Potential, Business Friendliness, Tax & Other Costs, Human Resources, Quality of Life, Infrastructure and Foreign Direct Investment.
Dubai ranked highest in four of these categories.
Sami Al Qamzi, director-general of the Dubai Department of Economic Development (DED), said: 'The top score of Dubai in the Middle East Cities of the Future ranking is a testimony to the concerted approach of DED...to create a high-growth environment and boost the economy by implementing strategies to attract foreign investment to the emirate.
"The result for Dubai is based on an evaluation of 76 parameters that, in essence, cover the entire aspects of the economy."
DED's foreign investment office headed by Fahad Al Gergawi added: "This top-ranking highlights the opportunities that exist in Dubai for investors when evaluating the potential for international expansion.
"Dubai is very investor-friendly and enjoys a strategic location."
The Economic Potential category, in which Dubai topped the list, evaluated parameters such as 2009 GDP growth forecast, national GDP, economic initiatives, inflation, cash surplus, high-tech exports, industrial production growth and growth of urban population.
"Winning this award and ranking high in many of the categories reflect Dubai's success in diversifying our economy, and the potential for growth that the Emirate offers despite the challenges that the state of the global economy brings at this point in time,' added Qamzi.
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Comments 1-5 of 5
Posted by Maverick on 22 January 2009 at 19:37 UAE time
It's not yet known to most of the residents of UAE but the city of Umm all Quwain will soon be in the list 5 years from now. The city is in the developing phase and somehow infrastracture and business sense is on the way. The area is still unspoiled and quite big that can accommodate more expats if I may say. Big companies haven't thought of investing there yet but if so a big potential of success and survival is out of reach. Do not concentrate alone on Dubai Sharjah / Abu Dhabi (crowded?!) if some already considered Ras Al Khaimah, Umm Al Quwain is much nearer and more pleasant to go to. Then again just a thought guys...
Posted by Elizabeth, Dubai, UAE on 22 January 2009 at 17:28 UAE time
Jeddah and Riyadh next runners up huh? I bet NO WOMEN were asked in this survey !!! They just account for half of this planet...
Posted by Philbert Suresh, Mishref, Kuwait on 22 January 2009 at 13:51 UAE time
It is no surprise that Dubai has risen to a status of an international class city of the world today - that underlies its risks of investment in infrastucture to support a population on the move.
Please note the differnces in making of a city of world class from the study made in Canada - August 2005
http://translogistique.blogspot.com/2005/08/dubai-and-toronto-difference-in-dream.html
A few summers ago I visited Toronto to study the global logistics of this world-class city. Toronto has provided inspiration and direction to the economic development strategies of a bustling metropolitan city in the Arab region – Dubai. Dubai shot into the limelight primarily due to its ability to manage large events such as the IMF conference in mid-September 2003, which drew 27,500 participants from 184 countries. Even against the backdrop of the Iraq war, Dubai was an oasis of peace where normal business and trade was undertaken in spite of the regional concern for safety and security.
This is all history and your article touches the heart and soul of a vibrant city in Middle East today.
Posted by Chris J, Dubai, UAE on 22 January 2009 at 13:20 UAE time
I think it would be useful to look at the core data and questions that were asked before making comment. However the timing of the questionaire would be critical as it seems to be flying in the face of all the news that we are getting here in the UAE at present. I would not be cynical enough to think that this is just a good news story to counter some of the negativity, as the UAE is a good place to be if you have a job on decent remuneration, but for the bulk of people here it is rapidly becoming a less and less liveable city. Reasons for this include lack of borrowing facilities, lack of families, lack of respecct relating to EIDA and its queing policies, high food costs and rentals. Banks also are making the life of the low paid a misery. Still the UAE will survive, even if it is with less people living here.
Posted by JKarcia, Dubai, United Arab Emirates on 22 January 2009 at 11:26 UAE time
It will soon go down the list. Don't worry other cities. You can easily take over Dubai's empire. Just make it attractive. It doesn't look like Dubai would want to remake it up soon for the mistakes it has done. It has been cursed by common men who are suffering here with rising cost of living and falling income to live decent.