Competitiveness more opportunities for all to improve

Competitiveness is how countriescreate the best economic social and environmental conditions for economicdevelopment. It measures the things that makes up this development such aspolicies, institutions and productivity. Simply it measures the vital elementsthat make a country productive and bench marks nations performance. Strivingfor competitive is striving for rising prosperity, it means creating moreopportunities for all to improve the way people live.

A competitive economy ismost likely to grow sustainably.There are 12 main elements that drivethe productivity of a country like how institutions perform, how good theinfrastructure is, their macro-economic environment the technological readinessand their capacity to elevate, both positive and negative effects have reachingeffects on the bigger picture. These interconnections lie at a country’sdevelopment for example education is more likely to be achieved in a healthywell educated work force to further invest and reach development, infrastructureis to move its goods and people to where they need.Global competitiveness helps policymakers diagnose which countries are more productive than others giving them aclear picture of their direct impact of policies, and all the facilitiesprovided such as hospitals schools. Technological development, the roads,financial market prospects for employment, It is mainly all about creating abetter life to everyone.    Porter’sreviewIt mainly emphasizes on increasing productivityby competing globally.

We Will Write a Custom Essay Specifically
For You For Only $13.90/page!


order now

Competition occurs when a business can meet the test ofinternational competition but at the same time the living standards of theaverage citizen can be maintained or increasePorter’s review insisted that microeconomiccapabilities must improve in order for the macroeconomics elevate and be moreprolificPorter discuss the business competition indexBCI which provides massive data to measure and analyze the competitiveness ofthe countries, it identifies the country’s strengths and weaknesses Mainly his discussion is focused onmacroeconomic, political, legal and social circumstances that drives asuccessful economy that are the main contribution to a productive economy yetthey are insufficient to create wealth which is created on a microeconomiclevel of the economy, without improvement in microeconomics, macroeconomicsother firms will not improve.Porter’s review comparing differences betweendeveloping and developed countries of micro and macroeconomics that contributegrowth in the economy and achieve high living standards significantly, moreoverporter discuss the foundation of productivity as 2 main areas. 1) Thesophistication with which domestic or foreign companies operate. 2) The qualityof microeconomic business in which they operate, his discussion furtherincludes aspects that improve competitiveness through utilization of clusterswhich are a group of companies, supplier, institutions in a specific relatedfield and their ability to create innovative environment as well.               UAE & Pillar 2 InfrastructureUAE has the most advanced infrastructure in theregion roads, airports & telecommunication facilities to support theeconomic growth and business development, the road networks also link UAE toOman and KSA to facilitate trade. traffic congestion is eased by the continuousdevelopment and improvement of road networksAviation is set to be the earliest drivers ofnon-oil economic growth in the UAE as considered to be a global aviation hub, thereare 7 international airports through the country as UAE is home to 2international airlines Emirates airlines and Etihad airlines as well and lowcost airlines as air Arabia & Fly Dubai set to levirate economic growth aviationforms 28% of total GDP of Dubai & accounts for 19% of employment in DubaiFurther development is set through Al-MaktoumAirport which when set will be the world’s largest airportThe UAE’s strategic location has not onlyallowed the country to become a global aviation hub but also set a uniquemarine activities & transportation, the country has numerous portfacilities catering general cargo, container shipping, most port are located onthe western coast including Jebel Ali, the biggest port in the middle east theports of Fujairah & Khor-fakkan are located on the eastern coast direct access to the Indian ocean without the need to navigate through Hurmuz.Railways had been the missing element in UAEinfrastructure transport structure however that situation has recently changedon sept 9th 2009 when Dubai Metro was opened to the public as firstUrban Train network in the G.C.

C currently 75 km of rail way track across its 2lines and addition 2 line are being developed for the future.Infrastructure in the UAE is not just about transportation,telecommunication structure in the country has been steadily developed and itaccounts for a significate portion of the economy contributing about 5.3 to theGDP of the UAE increase from the past years from 4.1which is considered to besignificant.All the country sector such as banking, health,education sector requires adequate & advanced telecommunication,infrastructure & capabilitiesTelecomm is considered to be a key driver forthe country’s economy growth through flexible policies to facilitatedevelopment       UAE and pillar 3 Macroeconomic environmentsUAE is of the largest economies in the middleeast and it’s per capita GDP is on par with highly developed European countiesGeographically speaking UAE is fairly small,just over 30,000 square miles, over the last two decades the population hasnearly quadrupled due to high birth rate and rapid influx of expirateworks.Uae’S Economy is the most diversified in the Persian gulf and its mostpopulous city Dubai is emerging as a hub for travel , trade and aviation.

The uae is extremely conductive to privatebusiness and free market due to the country’s enormous trade zones , businessesand corporation which was recently exempt from all taxes with little revenuecoming from taxes the uae government is left extremely dependent on its primaryoil export even after efforts to diversify the economy, the resources stillcontribute to about 40% uaes’s more than 350 billion dollar GDP.As global demand for oil has slowed the countryhas been forced to make up for loss by reducing public spending includingpartial elimination for fuel subsidies in 2015. To specifically discussmacroeconomic environment is important for business and therefore issignificant for overall competitiveness of a country , the GCI report 2013 to2015 shows a decrease due to inflation rate in UAE.Economist forcast a rise in consumer inflationto 4.8% in 2018 from 2.8% in 2016 with the introducyion of tax in Jan 2018Any inflation rate increase can restrict theeconomic growth of the countryCPI is the tool assessing the changes in thelive expenditure , it reflects the demand of goods as well as the money valueUae’s Macro econiomic report states that CPI ofUae has been increasing gradullay in the recent years .              UAE and pillar 5 Higher educationRecently education has turned to be a focalconcentration inn the uae Its advancement is necessary to cope with theoverall country’s development, nonetheless there are significant difficultiesfor policy maker to succed in economic expansionand decrease the dependence onthe foreign workersEducation achieved significant leaps in therecent decades, the numer of universities has increased offering variousprograms to cope with the global education and increase the qualifiednationals, this would lead its natin to get employed in the organisations tocontribute the counties overall development .

 

x

Hi!
I'm Simon!

Would you like to get a custom essay? How about receiving a customized one?

Check it out