UAE Tops Global Entrepreneurship Monitor Report For Fourth Consecutive Year

The UAE has ranked first globally in the Global Entrepreneurship Monitor (GEM) Report for the fourth consecutive year. Among 56 economies evaluated this year, the report also ranked the UAE as the best place for entrepreneurship and small and medium-sized enterprises.

According to Emirates News Agency, the UAE secured the top position among high-income countries in 11 out of 13 key indicatorsbased on expert assessments of institutional frameworks supporting the entrepreneurial environment. The areas in which the country excelled globally included entrepreneurial finance, ease of access to funding, government policies supporting entrepreneurship, and government policies on taxes and bureaucracy.

Meanwhile, the entrepreneurial culture in the UAE is marked by high awareness and ambition among the population. Nearly 67% of adults know an entrepreneur or believe they have the necessary skills to commence a business. The country was also ranked first globally in the same report under the GEM's National Entrepreneurship Context Index (NECI), which assesses each nation's supportive environment for entrepreneurship.