In the latest World Competitiveness Ranking 2023, the UAE has managed to secure a spot among the top ten countries. The nation has demonstrated exemplary performance in various fields, thereby achieving high ranks in international competitiveness indexes.
The UAE has outshone other countries in government efficiency and has set an example by having the lowest personal tax rates, adaptable policies, and the least amount of bureaucracy.
Additionally, the country’s residency laws are flexible, the tax evasion rate is low, and the capital and consumption taxes are affordable. Although Denmark secured the top position globally, Ireland and Switzerland followed in second and third place, respectively.