Tuesday, June 25, 2024

UAE Leads Global Stability, Ranks 10th in Soft Power

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The United Arab Emirates (UAE) has garnered global recognition as the most stable economy and the 10th best country in terms of ‘soft power’. In a significant global power survey, the UAE has been identified as having the strongest and most stable economy while also ranking among the top nations in terms of ‘soft power’.

For the second consecutive year, the UAE maintains its 10th position in the Brand Finance Soft Power Index 2024, standing out as the sole Gulf country to secure a spot in the top 10. The announcement was made by Eliza Jean Reid, the First Lady of Iceland, and Olena Zelenska, the First Lady of Ukraine, during the annual Global Soft Power Summit in London, attended by esteemed world leaders and public figures, including former British Prime Minister Sir John Major.

The UAE’s ascent in the global index reflects a remarkable trend in both ranking and influence, with over 170,000 individuals surveyed across the 193 UN member states. Brand Finance defines ‘soft power’ as a nation’s ability to sway preferences and behaviors internationally through attraction or persuasion rather than coercion.

The UAE’s consistent rise in the rankings underscores its significant impact on shaping global perceptions and attitudes. The nation’s top position in the ‘Strong and Stable Economy’ indicator underscores its role as a model for sustainable economic growth and diversification, attributed to prudent leadership decisions and strategic initiatives.

By reducing reliance on oil revenues and fostering growth in sectors like financial services, technology, tourism, and renewable energy, the UAE has diversified its economic landscape, creating resilience against oil price fluctuations. Notably, the country witnessed a substantial increase in non-oil foreign trade in 2023, reaching a record AED 3.5 trillion ($953 billion), a testament to its economic strength.

The UAE’s high ranking in various indicators such as ‘Internationally Admired Leaders’, ‘Future Growth Potential’, and ‘Affairs I Follow Closely’ underscores its global influence, proactive diplomacy, and strategic vision for innovation and technology. The country’s commitment to sustainability, humanitarian efforts, and security further solidify its position as a leading nation on the world stage.

The UAE’s exceptional performance in sustainability indicators, coupled with its focus on technology, innovation, and security, has propelled its national brand value to $1 trillion, making it the most valuable national brand in the Middle East and Africa. The Brand Finance Soft Power Index, based on a comprehensive evaluation of global soft power influence, reflects the UAE’s positive reputation, capacity for positive change, and favorable perceptions worldwide across various domains.

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