Dubai ranks 16th among world's innovation-driven cities
Dubai is leading the march of innovation in the emirate while developing the right environment for innovation.
Dubai - Dubai registered an innovation rate of 39.14 per cent while the city progressed to 11th place in the world for its efficiency in innovation outputs
Dubai ranks 16th out of the 28 other global cities, which are currently considered the most prominent players in the field of innovation and creativity, according to Dubai Chamber's Innovation Index.
Dubai registered an innovation rate of 39.14 per cent while the city progressed to 11th place in the world for its efficiency in innovation outputs.
The report, released on Tuesday by the Dubai Chamber, revealed the results of the first edition of the Dubai Innovation Index.
Dubai scored above its average for government, an indication that the government of Dubai is leading the march of innovation in the emirate while developing the right environment for innovation. The private sector's focus is on performance and its preference for long-term strategies to promote innovation, said the report.
The report cites Dubai's leadership in the field of output and performance, particularly in the launch of new products and services and outputs of technology. It shows that intellectual property and opportunities for collaboration with institutions and economies for scientific work have emerged as areas for improvement, as did the subject of co-operation between public and private sectors.
Dubai's benchmark for innovation is in line with the outcome of the Global Innovation Index 2016, which shows the strengths of the emirate in infrastructure and information technology.
According to the Global Innovation Index, the UAE has recorded a significant improvement in its innovation standing on the 2016, which was officially launched in August. The UAE ranked first among Arab countries and 41st worldwide in terms of overall performance on the index, up from second in the Arab World and 47th globally in 2015.
The Dubai Innovation Index recommendation focuses on the need to enhance business policies and regulations governing the business environment in Dubai and the UAE in the area of ease of doing business. The chamber has worked over the past year on various initiatives to enhance the business environment and advocate business policies to improve the UAE's ranking in the Global Innovation Index.
The index showed that medical care, media, marketing, IT, and retail industrial sectors are the most innovative, while professional services, agriculture, fisheries, construction and energy sectors turned out to be the least innovative.
Majid Saif Al Ghurair, Chairman of the Dubai Chamber, said Dubai was the first to launch an ambitious vision to become the world's most innovative cities under the support and guidance of His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai. "Thankfully, under his wise leadership, Dubai is one of the leading innovation destinations in the world today."
Hamad Buamim, President and CEO of Dubai Chamber, said as an essential part of its innovation strategy, the chamber is working to support the development of the emirate's innovation environment and stimulate an innovation culture in the business environment. He went on to say that the Dubai Innovation Index is the first of its kind in the world to measure innovation in an emerging economy.
According to the findings of the MasterCard Global Destination Cities Index, Dubai, on track to attract 14.3 million international visitors in 2015, now ranks as the fourth most sought-after destination on the planet.
While Dubai continues to be one of the fastest-growing cities in the global top 10, Abu Dhabi is the third fastest-growing destination city overall between 2009 and 2015.