The DHL Global Connectedness Report positions the United Arab Emirates (UAE) as the eighth most globalized nation globally. This ranking reflects the UAE’s impressive progress since 2001, demonstrating the most significant increase in connectedness among the 181 countries analyzed.
The report further highlights the strong connectivity of the Middle East and North Africa (MENA) region in trade, investment, immigration, and tourism. While Europe maintains leadership in trade and human mobility, and North America dominates capital and information flows, MENA holds a prominent second place in trade. This is attributed to factors such as the significance of oil trade, the growing influence of Gulf countries within trade networks, and the well-established ties between North African nations and Europe.
Employing a robust methodology based on nearly nine million data points, the report introduces a novel approach to gauge the depth of globalization. This metric utilizes a scale ranging from zero to 100 percent.
Despite ongoing global economic and political challenges, the report underscores the resilience of international flows. These flows have demonstrably outpaced domestic activity and expanded geographically.
The report also identifies a growing inclination towards international expansion. This is evidenced by the rise in announced greenfield foreign direct investment (FDI) and the increasing international sales figures of publicly traded companies.
The global travel sector exhibits a positive trajectory, reaching 88% of pre-pandemic levels. With a full recovery anticipated by the end of 2024, the Middle East stands out as a leader in this recovery. According to the UN World Tourism Organization, international arrivals in the region surpassed pre-pandemic levels by 23% in 2023.
Publish 02 Apr 2024
Source: https://www.arabianbusiness.com/politics-economics/uae-gains-top-spot-in-worlds-most-globalised-countries-dhl/
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