Emirates Ranks Among the Top 10 Global Emerging Markets
According to the 15th annual Agility Emerging Markets Logistics Index, the UAE has been ranked among the top 10 global emerging markets,
Agility index assesses the logistics competitiveness of 50 emerging markets based on their infrastructure, business environment, and digital readiness.
The Agility survey includes 830 logistics executives who highlighted that the UAE and Saudi Arabia are leading the GCC.
This is in terms of accelerating economic diversification and reducing reliance on oil and gas revenues.
The UAE topped the ranking in the business fundamentals pillar, while Saudi Arabia came in third.
Logistics professionals in the survey identified nurturing and developing small and medium-sized enterprises (SMEs) as a key driver for economic diversification across the GCC.
Top 50 Markets
Agility Index provides a snapshot of the logistics industry by ranking the top 50 emerging markets worldwide.
This is based on their overall competitiveness, which is determined by:
- Logistics strengths
- Business climate
- Digital readiness
These factors make these markets attractive to logistics providers, freight forwarders, air and sea carriers, distributors, and investors.
According to the index, the UAE and Saudi Arabia ranked in the top 10 in each category.
Qatar ranked in the top 10 in all categories except international logistics opportunities, where it ranked 20th.
Bahrain ranked eighth in the business fundamentals category, while Kuwait and Oman did not rank in the top 10 in any category.
Key Findings for 2024
- Supply Chain Restructuring: India, Europe, and North America are taking precedence over China, with executives expecting to shift production to these regions in 2024 and beyond.
- China: 40% expect their businesses to become less reliant on China over the next five years.
The key factors driving de-risking decisions from China include business difficulties, US-China trade issues, economic slowdown, and COVID-19 restrictions in China. - Climate Change: 66% of respondents say they are planning for climate change, or that it is already impacting their business.
- Emerging Markets: The majority see higher risk/lower reward in emerging markets.
- India: India is seen as growing in importance as a producer and market, but poor infrastructure and corruption are seen as major obstacles.
Global Emerging Markets Rankings
The Middle East and North Africa ranking as follows:
- UAE (3)
- Saudi Arabia (6)
- Qatar (7)
- Turkey (11)
- Oman (15)
- Bahrain (16)
- Jordan (17)
- Egypt (20)
- Kuwait (21)
- Morocco (22)
- Tunisia (37)
- Lebanon (38)
- Iran (40)
- Algeria (42)
- Libya (50)
The UAE continues to occupy leading positions in the most prominent international and regional indicators and reports, confirming its leadership and the high level of security and stability it enjoys. pic.twitter.com/6bJ8txrqzI
— UAE Voice (@uae_voiceeng) February 6, 2024
Sub-Saharan Africa ranking as follows:
- South Africa (24)
- Kenya (25)
- Ghana (31)
- Nigeria (36)
- Tanzania (41)
- Uganda (43)
- Ethiopia (45)
- Mozambique (46)
- Angola (47)
His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the State, may God protect him, held a telephone call with His Excellency Vladimir Putin, President of the Russian Federation, during which they discussed the strategic relations between the two friendly countries 🤝 pic.twitter.com/4zIhBCdI6J
— UAE Voice (@uae_voiceeng) February 6, 2024
Asian countries ranking as follows:
- China (1)
- India (2)
- Malaysia (4)
- Indonesia (5)
- Vietnam (8)
- Thailand (10)
- Philippines (18)
- Kazakhstan (23)
- Sri Lanka (26)
- Pakistan (29)
- Cambodia (32)
- Bangladesh (33)
- Myanmar (49)
Latin America ranking as follows:
- Mexico (9)
- Chile (12)
- Brazil (14)
- Uruguay (19)
- Peru (28)
- Colombia (27)
- Argentina (30)
- Ecuador (35)
- Paraguay (39)
- Bolivia (44)
- Venezuela (48)
Europe ranking as follows:
- Russia (13)
- Ukraine (34)
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