What makes Dubai top ‘City of the Future’
Is Dubai the GCC’s counterpart to New York, London and Paris? A new report sheds light into what makes Dubai the top city of the future.
Global management consulting firm A. T. Kearney’s latest report Global Cities of the Future, a GCC Perspective places Dubai among the world’s top five cities for imports and exports.
The city is increasingly regarded as a global and regional leader in business activity, human capital, information exchange, and cultural experience, it says.
Home to the headquarters of Emirates airline and two international airports, Dubai is also a major destination for international tourism. The city scores high in human capital, with a variety of international schools and many foreign-born residents.
New efforts to pay off
Experts at A.T. Kearney note that the new future-oriented and innovative initiatives such as the creation of ministries of happiness and tolerance will give an edge for Dubai and the UAE as well over other cities in the region.
“The newly launched Dubai Industrial Strategy 2030 aims to transform the city into a global platform for knowledge-based, sustainable, innovation-focused businesses. Foreign direct investment (FDI) continues to push the city’s business activities to global levels, while entrepreneurship and private investments are beginning to shape a culture of innovation.”
Michael Romkey, principal with A.T. Kearney and co-author of the report, says that “Dubai is a fantastic example of how a city plans ahead, building on its robust progress in many areas to position itself as a leading global city.”
“It has a high growth potential among the cities in the GCC region across all dimensions and continues to capitalize on its current capabilities and position. Its current ranking in the market is a testament to what has already been done and the groundwork implemented for continued success.”
New York, London and Paris continue to be in possession of the titles of the world’s most global cities. But London may lose its charm as a global hub in the future in the wake of the Brexit vote. Melbourne, San Francisco and Geneva as cities that could make great leaps forward in the coming years, driven by changing policies and a shifting landscape, according to the report, launched on Sunday at the World Government Summit held in Dubai.
“At a greater scale and speed than ever before, cities face unprecedented growth of human and societal needs, and at the same time look to boost their economic productivity and competitiveness to increasingly stratospheric levels to be relevant and win in the global stage,” says Mauricio Zuazua, partner with A.T. Kearney and co-author of the report.
“Evidently no two cities are the same, and any city looking to play in this league must define its unique position and points of sustainable differentiation and competitive advantage,” he adds.