The United Arab Emirates has been taking all necessary steps aimed at facilitating economic recovery in the country in the aftermath of the COVID-19 pandemic. According to a recent COVID-19 Economic Recovery Index Ranking issued by the Horizon Research Group, the UAE is leading the Arab region in terms of efforts for post-pandemic economic recovery.

According to a WAM report, the Index analyses the COVID-19 response of 122 countries and their position in the global recovery process, based on their overall health resilience in line with their pre-existing systematic strengths and weaknesses vital for their recovery capacity.

With the help of its proactive and long-term economic agility, robust and adaptive institutional system, as well as high literacy rate, the UAE was able to acquire noteworthy spots among some of the advanced countries in the world on the Index. The Horizon Research Group assessed these countries on various parameters including health resilience, highly educated workforce, low debt levels, governance & social capital, and digital economy, where the UAE achieved 5th, 15th, 17th, 19th and 21st position respectively.

The Index also states that the UAE has displayed stronger economic resilience towards rapid recovery even after being deeply affected by the pandemic crisis during the initial outbreak.

"While they may have been deeply affected initially, countries including the United Arab Emirates, Luxembourg, Singapore, Israel, Malta, or Ireland, display stronger economic resilience, which will support recovery,” the Index read. 

Noting that these countries are significantly open economies and trade-dependent, the Index added that they are supported by strong institutions, digitalization and skilled and educated population, 

“These countries are mostly relatively small, open economies, highly dependent on international trade and/or flows of capital, and on sectors that are vulnerable to COVID-19 containment measures. Most of these countries have strong institutions and well-educated populations and are digitalized," the Index added. 

WAM