As Switzerland topped the talent magnet in the world, the Emirates climbed two places to 21st, according to the 2022 IMD World Talent Ranking (WTR). IMD is an independent academic institution and has been a pioneering force in developing leaders. And the three-prolonged approach to measure talent in economies taken by IMD’s World Competitiveness Center (WCC) included the investment & development factor, the appeal factor, and the readiness factor. The 2022 World Talent Ranking studied 63 economies to assess the readiness of these countries to foster long-term value creation for their economy and enterprises, via their workforce.
Switzerland emerged as the leader among the 63 economies for the sixth consecutive time followed by Sweden, Iceland, Norway, and Denmark, according to WCC. UAE leads in the Arab region at 21st rank followed by Saudi Arabia at 30th, Qatar at 34th, and Bahrain at 35th.“Talent competitiveness in the post-Covid period hinges greatly on the motivation level of the workforce, which, in turn, relies on remuneration but also the quality of life and organizational leadership of the economy,” says Christos Cabolis, chief economist at the WCC.
The Emirates, the Arab world’s second-largest economy, is adapting to an economic future and has undertaken several economic, legal, and social reforms to attract skilled workers in recent years. To create a competitive and global work environment, the nation has encouraged different working models, increased foreign direct investments, and introduced new visa programmes. The UAE government’s strategy is to encourage talents from around the world to come and live in the country and at the same time, develop world-class skills from the current talent pool. For the former, the government’s overhaul of visa programmes such as the green visa that allows a skilled worker to reside in the country without need for a sponsor or an employer, has boosted opportunities for foreign workers. It has also provided incentives to companies to set up or expand their operations, to achieve the latter.
In the coming years, UAE aspires to be positioned as a destination where the next generation of skills emerge and the boldest ideas can flourish.
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