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Dubai has been named ‘the most competitive city’ in the Middle East in a new Economist Intelligence Unit (EIU) research report.
The study,which has been commissioned by Citi,ranked Dubai at number 40 in the list of 120 of the world’s major cities. Dubai just edged out its neighbour Abu Dhabi which was ranked 41st alongside Spanish city Barcelona.
Qatari capital Doha came 47th in the list alongside Milan and Osaka while Kuwait City was ranked 80th,Muscat 86th and Riyadh 106th.
In the individual categories,Doha was the best performer among Gulf cities as it ranked fifth in the world for economic strength. Forbes named Qatar the richest country in the world earlier this month.
The report,entitled Hot Spots,ranks the most competitive cities in the world for their demonstrated ability to attract capital,business,talent and tourists.
With a combined population of about 750 million,the 120 cities ranked in Hot Spots represent approximately 29 per cent of the global economy and generated a combined GDP of USD 20.24 trillion in 2011.
According to the report,the most competitive cities in Europe are: London (2nd),Paris (joint 4th),Zurich (7th),Frankfurt (11th),Geneva (joint 13th),Amsterdam (17th),Stockholm (joint 20th),Copenhagen (joint 23rd),Vienna (joint 25th),Dublin (27th) and Madrid (28th).
By the key measure of Economic Strength,two cities in the region,Doha and Abu Dhabi,made it to the top 30 Cities list,while Dubai ranked 10th under the measure of Financial Maturity,and Riyadh came 8th globally as least risky in terms of Environmental and Natural Hazards.