Today's Edition
KHALED AL KHAWALDEH (ABU DHABI)
UAE cities’ connectivity and vibrant commercial centres stood out as major strengths in a new report that measures the viability of emerging hubs around the world.
'The Cities Shaping the Future' report by global firm Olyver Wyman ranks cities on an index, measuring them across four factors that impact their viability as global centres for commerce and trade in a changing world. These factors include the strength of their commercial hubs, their manufacturing base, their connections to the outside world, and climate resilience.
Dubai ranked 8th for its commercial hubs and fourth for its mobility and connectivity. Abu Dhabi follows on the 29th spot for its commercial hubs and 34th for its connectivity.
“The global economy is undergoing the biggest transformation in a generation. Geopolitical tensions, protectionist pressures, and a wave of industrial policies are prompting corporations to rethink where they produce and market their goods and services. At the same time, demographic shifts are fuelling the emergence of new centres of production and consumer demand,” the report read.
“[Dubai] will benefit from the megatrends reshaping opportunities across our 15,000 cities,” it added.
With its strong aviation and port services, retail brand and financial centre, Oliver Wyman Forum believes the city will only grow as a centre point between East and West, and it is well capitalised to win in a more fragmented world. It said this was evidenced by the city’s increasing cargo and passenger flows, as well as strong economic figures.
Dubai and Abu Dhabi scored moderately on their manufacturing capability, ranking 127th and 222nd, a ranking which Olyver Wyman Forum said would likely rise amid shifting global supply chains.
“Forces are creating new drivers of growth and innovation, shifting the global economy’s centre of gravity away from the North American and European markets that powered the 20th century,” the report read. “This is happening most dramatically and visibly in the fast-growing cities of Asia, Africa, Latin America, and the Middle East.”
Regionally, Riyadh and Istanbul also stood out in the rankings, ranking above Dubai owing to their more favourable climate.
