Today's Edition
YOUSEF ABDELRAHIM (ABU DHABI)
Abu Dhabi has been ranked as the most prosperous city globally for 2024 by the consulting firm Resonance. This accolade highlights the emirate’s significant achievements in the oil sector and its emergence as a global cultural and artistic hub.
The Resonance report, titled “The Best Cities in the World for 2024”, places Singapore in second, followed by London in third, Dubai in fourth, and San Francisco in fifth. Other cities in the top ten include San Jose, Riyadh, Seoul, Doha, and Kuwait.
The prosperity index, as defined by the report, prioritises human capital as the most valuable resource for urban wellbeing and wealth. The assessment criteria encompass seven sub-categories: educational attainment, percentage of bachelor’s degree holders, labour force participation, per capita GDP, low poverty rates, presence of Fortune 500 companies, number of start-ups, and the size of conference and events centres.
Abu Dhabi’s transformation is marked by its cultural landmarks, including the Sheikh Zayed Mosque and the Louvre Abu Dhabi on Saadiyat Island. The city has invested $12 billion in the culture and tourism sectors as part of its strategy to diversify the economy away from oil and gas and attract more tourists.
The Resonance report also includes four Gulf cities-Dubai, Abu Dhabi, Riyadh, and Doha-in the list of the world’s best cities for 2024. The selection criteria focused on quality of life, international reputation, and competitiveness. London topped this list, followed by Paris and New York, with Tokyo and Singapore also making the top six.
