The UAE has emerged as the most digital-friendly Middle East nation in Euler Hermes’ latest study titled ‘The enabling digitilisation index: Which countries are digital friendly’?
The country was ranked as the 24th best performer globally in the index, which Euler Hermes attributed to the “impressive trade infrastructure coupled with a supportive business environment.”
Bahrain snagged the 38th spot globally and is the second ranking in the GCC. While Qatar ranked 33rd, Saudi Arabia 50th, Oman at 53rd, Jordan at 64th, Kuwait at 65th and Egypt 80th, globally.
The UAE also scored high in the Index’s digitalization sub-components garnering 88 points on infrastructure, 86 on regulations, 69.5 on knowledge, 63.7 for connectivity. Its scored totaled to 61.8, surpassing countries like Spain, Italy, Malaysia, India and Russia, among others.
According to Euler Hermes, initiatives that foster the acquisition of STEM (science, technology, engineering and mathematical) competencies and improving digital skills are big contributors in enabling countries to move up the rankings. “Markets such as Hong Kong or the United Arab Emirates are currently engaging on the path. Hong Kong released a pro-innovation budget this year, promising $6.4 billion worth of investment in research and development,” it said.
Meanwhile, the UAE has very proactive strategies such as Vision 2020, Dubai 10X and Smart Dubai initiatives among others, that are accelerating its digital transformation endeavours.