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His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, said on Friday that Dubai ranked third in the world in the Global Economic Performance Report issued by The Economist magazine.
His Highness said in a tweet via Twitter: “Dubai ranked third in the world in the global economic performance report issued by The Economist magazine, which monitored various economic and development indicators over the past three years and future prospects for growth… Sheikh Mohammed bin Rashid’s vision has been achieved. The leadership of Dubai and the Dubai Economic Agenda D33 raised the ceiling of ambitions, and we thank the work teams in the government and semi-government sectors and partners from the private sector who are working to consolidate Dubai’s global position in various indicators and sectors.
According to the economic performance index, Dubai outperformed cities such as New York, London and Tokyo. The index is based on changes in four main metrics: population, economic growth, job vacancies and house prices over the past three years.
Dubai witnessed an increase in its population by 5.8% between 2019 and 2022, while house prices increased by 11.9% during the same period. The Economist said that Dubai benefited during the Covid-19 pandemic in attracting investors and capital from countries that imposed strict protocols on population movement during the ban period.
She added that a large number of investors and job seekers choose Dubai for its wide range of advantages, including warm weather throughout the year, lenient regulations for people annoyed by Western routines, and relatively low taxes. Miami topped the general classification on the economic performance index, followed by Singapore in second place, while New York ranked fourth after Dubai, and London ranked fifth.
