Dubai tops list of future most competitive cities


Dubai will be the top of most competitive city in the Middle East by 2025, according to a report by Economist Intelligence Unit (EIU).

   The city was ranked 23rd among "Hot Spots 2025," an annual list that measures the future competitiveness of major cities in every region of the world. Dubai's ranking, which advanced six places from last year, is the highest in the Middle East.
   Other leading cities in the region include: Doha, 24th; Abu Dhabi, 39th; Kuwait City, 63rd; Muscat, 64th; and Riyadh, 87th.
   The EIU "Hot Spots 2025" report, published by The Economist magazine's research arm, said Dubai is reaping benefits from its early moves away from oil.
   "The city has been planning actively for a future without petrochemicals for some time," said the report released on June 5.
   As of today, oil contributes only two per cent to the gross domestic product in Dubai, whereas 90 per cent of Emirati oil is located under the sands and seas of neighbouring Abu Dhabi.
   Dubai improved its stance in seven out of eight categories, according to the EIU. "Dubai ranks 44th overall on economic strength, reflecting the rapid growth of its tourism, real estate and financial services sectors."
   This year's "Hot Spots 2025" list, subtitled "Benchmarking the Future Competitiveness of Cities," is topped by New York, which climbed one notch, and London, which improved by four notches, and Singapore, which lost its lead position to the Big Apple. (Xinhua)