Best country to invest in 2024: Unlock GCC countries’ positions on the list

The Emirates is one of the most prominent countries to invest in 2024, leagues ahead of the other five Gulf Cooperation Council (GCC) members. Home to more than 9.5 million people, the country has been making headlines lately for a number of positive reasons.

The UAE is a federation of seven emirates. Calling Saudi Arabia and Oman its neighbours, the Gulf state has a diverse landscape that stretches along the Gulf of Oman and the Persian Gulf. Things used to be a lot different before the discovery of oil.

Prior to the mid-20th century, the UAE’s economy used to be based primarily on fishing and a pearl industry. But oil exports started in the 1960s and the country’s economy started embracing rapid transformation for the better.

UAE has one of the most competitive economies

Despite being an oil-rich nation, the UAE takes economic diversification quite seriously. Today, the country’s per capita is comparable to those of leading European nations. The UAE has one of the most competitive economies globally.

The Gulf state is also one of the most liberal countries in the region. The country’s constitution is all for freedom of religion. The UAE is made up of a federation of monarchies, and the legal system there is a mix of Civil and Islamic regulations.

The UAE is prominent for Dubai and Abu Dhabi – cities that continue to lure millions of tourists annually. The country has a particular focus on transforming its tourism sector – ensuring that people from different countries find the best of the UAE on their trip.

Gulf states’ rankings on ‘Best Countries Overall’ list

The Emirates is a member of numerous international organisations, such as the UN and Organisation of the Petroleum Exporting Countries. In terms of social purpose, the country cares deeply about human rights, animal rights, gender equality and climate goals.

The UAE performs much better than the other five Gulf states on a number of Quality of Life indicators. It scores on the ‘good job market’ scale, and earns a 100% score for economic stability. The country is also relatively more politically stable and family friendly.

On the ‘Best Countries Overall‘ list, the UAE has secured the 17th rank. Qatar comes at 25th, Saudi at 32nd, Kuait at 53rd, Oman at 61st and Bahrain at 69th. The rankings of these countries are based on their performance on an extensive range of metrics.