Dubai Chamber releases the Dubai Innovation Index Report
31 March, 2016
The Dubai Chamber of Commerce and Industry released a first-of-its-kind study using macro-economic data to look at how innovative cities are. The Dubai Innovation Index Report highlights the results of the Dubai Innovation Index (DII) study that was launched in 2015 in collaboration with PwC to support the UAE’s vision for innovation and to promote the city’s ambition to becoming the smartest city in the world by 2021.
The index compares Dubai to 28 global cities on macroeconomic measures of innovation to determine Dubai’s performance.
London was the most innovative city, according to the report, followed by Hong Kong and Singapore. Dubai ranked 16th across the 28 cities included in the index, which measured 61 indicators across sectors including healthcare, manufacturing, education, training, research, transport & logistics, real estate and finance. The survey also indicated that the implementation of new ideas and retention of talent are key challenges to establish innovation capabilities.
In another recent ranking, Dubai was named the number one target market for corporate expansion in a report released by the Alliance Business Centres Network for the Middle East and North Africa.
Around 21 percent of the 300 companies that were surveyed from Asia, Europe and North America all picked Dubai as the best possible centre for expansion of companies on a global level. Singapore finished second in the rankings, with Hong Kong taking the third spot and New York ranked fourth.
According to the survey, the most attractive factor that brings in potential companies was the ease of doing business and establishing a company in certain markets.