The fact that the United Arab Emirates (UAE) will be among the top three countries with the highest global business activity in 2024 is certainly a notable development for the member states of the BRICS alliance.
The reported rankings take into account the overall advantage of more than 56 countries in doing business globally. Only Hungary and the Netherlands surpassed the UAE. However, its status indicates that it is an important ecosystem for economic activity and business creation.
BRICS’ United Arab Emirates (UAE) is one of the world’s top global business hubs
The BRICS economic union has not shied away from its growth ambitions in recent years. This decision was initially aimed at overall economic cooperation carried out with different countries. However, in 2023, five countries were added. This initial expansion effort was key to expanding Allianz’s business relationships in the short and long term.
This expansion included Saudi Arabia, the United Arab Emirates, Iran, Egypt, and Ethiopia. One of these countries has since continued to demonstrate its economic value through recent stock market listings. In fact, the United Arab Emirates, a new member of BRICS, is listed as one of the three best-performing countries in the global economy in 2024.
This ranking considered the most desirable countries for startups and company formation. Furthermore, the UAE’s economic prosperity proved to be the basis for such preferences. The ranking considered the entire ecosystem, GDP projections, and more when determining the best options.
There is no denying that the UAE’s economic ecosystem continues to expand. Most recently, Microsoft invested his $1.5 billion in UAE-based AI company G42. Subsequently, the country’s attractiveness for strengthening business ties in various fields was demonstrated.
This should last him until 2024. Moreover, it should work for the benefit of the entire BRICS economic union. This group will inevitably experience the greater impact of policies and initiatives through their business relationships in the UAE. Other expanding countries have had similar successes.
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