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Dubai ranked first regionally and ninth globally in government regulations supporting the financial sector, according to the latest report issued by the British Zhen Foundation and the China Development Institute.
The emirate also ranked first regionally and 22 globally on the Global Financial Centers Index for the year 2023, an index that studied the performance of 130 financial centers around the world, while Abu Dhabi ranked 35th globally.
Dubai scored 702 points on the general index, surpassing Geneva, Copenhagen, Toronto, Madrid, Melbourne and others, while Abu Dhabi scored 689 points, surpassing financial centers such as Madrid, San Diego and Dublin.
In the sub-categories, Dubai ranked 14th in investment management, 15th in professional services and 15th in business environment. It ranked 30th among the most important financial technology centers in the world, while Abu Dhabi ranked 48th.
The classification of financial centers depends on a set of basic factors to measure their competitiveness, including the business environment, human capital, infrastructure, the extent of the development of the financial sector and reputation, not to mention the criteria related to the approach taken to organize and support the innovation industry and technology provided by the business ecosystem, and the extent to which technology and innovative industries are integrated. In the economy, and the quality and competitiveness of the ongoing work in these financial centers.
The report said that the Dubai International Financial Center is one of the most advanced financial centers in the world, and the leading financial center in the Middle East, Africa and South Asia, in addition to being the largest financial ecosystem in the region, as it includes under its umbrella more than 30,000 professionals working in more than Of the 3,600 active registered companies. The center’s vision is to lead the future of finance in the Middle East.
The report added that the Abu Dhabi Global Market, a financial center that has won many international awards, plays a pivotal role in diversifying the components of the UAE economy, and is committed to providing a comprehensive business ecosystem with the highest standards of integrity and transparency.
