For the fourth year running, the UAE has secured the number one global ranking in the Global Entrepreneurship Monitor (GEM) Report, solidifying its status as the most supportive environment for entrepreneurs and small businesses among 56 economies surveyed in 2024.
Notably, the UAE also topped the National Entrepreneurship Context Index (NECI), outperforming other high-income countries in 11 out of 13 key categories—ranging from access to finance and ease of doing business, to education, research, and government policy.
These rankings were based on expert assessments of the nation’s entrepreneurial ecosystem, and highlight the UAE’s success in building an agile and forward-thinking economic infrastructure.
A Vision-Driven Ecosystem
Alia bint Abdullah Al Mazrouei, Minister of State for Entrepreneurship, credited the UAE’s achievement to the country’s proactive vision and supportive leadership. “This milestone reflects our commitment to creating an inclusive and future-ready SME and startup ecosystem,” she stated, emphasizing the alignment with the ‘We the UAE 2031’ national vision.
She also noted that the UAE’s consistent global recognition underscores its rise as a premier destination for startups and innovative ventures. “We’ve built a climate where entrepreneurship thrives, not just locally, but as part of a global digital economy,” she added.
Strategic Investments Fueling Innovation
The report spotlighted several factors behind the UAE’s sustained success. Key among them is the government’s US$8.7 billion investment in innovation and SME development under the Projects of the 50 initiative. Policies such as 100% foreign ownership, robust startup support programs, and record-breaking levels of foreign direct investment in 2023 have further enhanced the UAE’s appeal to global entrepreneurs.
Entrepreneurial Spirit and Digital Ambition
The UAE’s entrepreneurial culture is also thriving. Nearly 67% of adults believe they have the skills to launch a business, and 70% of Emiratis see strong local opportunities. The country’s entrepreneurs are also highly impact-driven—78% prioritise social and environmental outcomes over profit.
The report highlighted other forward-looking trends:
- 75% of early-stage entrepreneurs plan to build teams with six or more employees within five years.
- 80% aim to integrate digital technology into their business operations.
- 55% already serve customers beyond the UAE’s borders, reinforcing the country’s global positioning.
On Track for One Million SMEs by 2031
With its innovation-led approach, people-first policies, and a global outlook, the UAE continues to strengthen its foothold as a magnet for investment and entrepreneurship. The GEM report’s top ranking reinforces the nation’s long-term goal to nurture one million SMEs by 2031, making the UAE not just a regional success story, but a global leader in entrepreneurial excellence.
