The global Newsweek Vantage Foundation and the Swiss Horizon Research Group released the results of the first edition of the “Global Index of Future Opportunities” report for the year 2024, which is based on the partnership launched last year between the government of the UAE and the two international institutions to complete this report, which assesses the extent of future opportunities that global transformations bring and the extent of readiness. Countries to employ it to serve future development in their main sectors.
This came during an event held at the UAE pavilion at the World Economic Forum 2024, held from January 15 to 19, in Davos, Switzerland, in the presence of Her Excellency Ohoud bint Khalfan Al Roumi, Minister of State for Government Development and the Future, Nigel Holloway, Director of Newsweek Vantage, and Margarita. Drznik, Director General of Horizon Research Group, and an elite group of senior officials in the UAE government and global institutions across all vital sectors of the future, where the first version of the report was handed over to His Excellency Ohoud Al Roumi during the event.
This year's “Global Future Opportunities Index” monitored new opportunities in 6 future sectors worth more than $44 trillion globally by 2030 for advanced and emerging economies, in 70 countries that constitute 90% of the global gross product.
The results of the index revealed a list of the best countries that topped the overall ranking of the results of the Global Index of Future Opportunities for this year, where the United Kingdom ranked first, followed by Denmark, the United States, and the Netherlands.
The UAE ranked first globally in 20 indicators of readiness capabilities for future opportunities, and ranked 23rd globally and first in the Arab world in seizing opportunities in future sectors among advanced and emerging economies.
The UAE government also ranked first in the world in responding to changes and ranked second in the world after Singapore in the Future Vision Index, ahead of Britain and South Korea. It also ranked second in the world in government support for the entrepreneurship environment, ahead of Singapore, Switzerland, the United States and Denmark, and ranked second in the world in terms of government support for the entrepreneurship environment. Third globally in long-term future planning and future strategy of the government.
The index revealed that the UAE came first in the world in 20 indicators of readiness for future opportunities, after the country excelled and achieved first place in the world in indicators of flexibility in response to changes, future policy making and launching proactive government initiatives.
It also came first in the world in terms of the attractiveness, stability, and size of global talent, and the number of competitive working-age talents, and first in the world in the size of talent developing digital future software, the number of students studying in the country’s universities in new fields, and the size of the UAE market due to its advanced economic capabilities for consumers. The country also ranked first in the world in indicators of digital communication, the widespread use of the global Internet, and the advanced digital infrastructure for communications, including the speed of the mobile data network and the number of users and subscribers to mobile phone services.
The UAE also ranked first in the Arab world in the indicators of future opportunities that will be highlighted by future global trends, as it came in first place in the indicators of future opportunities in the circular economy, the advanced digital economy (exabytes/big data), the experience economy, in addition to the quality of life economy and the circular economy.
Her Excellency Ohoud bint Khalfan Al Roumi confirmed that these achievements come as an embodiment of the vision of His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the State, may God protect him, which focuses on enhancing readiness for the future to achieve advanced growth that is reflected in the present and future generations, and the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, The Vice President, Prime Minister and Ruler of Dubai, may God protect him, is keen to develop government capabilities for the future in a way that contributes to seizing future opportunities and employing them to achieve the government’s development directions. Therefore, we see the results of the visions and directives of the wise leadership reflected today in the country’s position in global indicators of readiness for future opportunities thanks to the efforts of Federal and local national teams in various sectors.
Her Excellency Ohoud Al Roumi said: “Emerging trends create new opportunities for countries, governments and businesses to improve their development performance in a way that serves the growth of economies and provides new opportunities for generations, and we are facing future opportunities valued at more than 44 trillion dollars by 2030.”
Her Excellency Ohood Al-Roumi pointed out that the Global Index of Future Opportunities represents a global reference for governments and decision makers to understand the upcoming changes and opportunities in the next decade, and an important indicator to enhance the readiness of countries to benefit from future transformations and opportunities for the benefit of present and future generations.
In turn, Nigel Holloway, Editorial Director at Newsweek, said: “The Global Future Opportunities Index focuses on the great opportunities awaiting countries and companies over the next few years. These opportunities are accompanied by challenges, the most important of which is ignoring these opportunities and wasting trillions of dollars in added value. The index presents “Global Future Opportunities provides a framework for analyzing the long-term investment priorities that decision makers in the private and government sectors must take into account when charting a path that enhances human and sustainable development around the world.”
For her part, Margarita Dreznik, Director General of Horizon Research Group, said: “The Global Future Opportunities Index is a new way to view the extent of countries’ growth and competitiveness through the lens of the six ongoing transformations and the opportunities they produce. We can rely on the data to determine which countries are working to benefit from these transformations and which are not.” It did not take the initiative to do so. It is encouraging to see the success of some emerging markets in advancing their economic development, while some of the less developed ones fell behind during the period of development of these transformations.”
The six main trends carry a set of great economic opportunities for the world, as the first transformation, “the advanced digital economy (or the exabyte/big data economy),” provides $17 trillion in total value for the opportunities it provides by 2030, as technological solutions will develop rapidly with the spread of generation technology. Fifth, increasing communication rates in the future.
The second transformation examines societies’ interest in experiences and providing personal services that suit the changing needs of customers within the “experience economy: and the shift from ownership to use,” as the value of the economy based on the culture of use and living experiences will exceed $17 trillion by 2030, due to individuals’ tendency to enjoy. Through life experiences instead of purchasing products, through experience tourism and the use of virtual reality experiences that are becoming increasingly sophisticated and efficient.
The third transformation, “the quality of life economy,” holds many future opportunities due to the growing interest in physical and mental health, which will increase in the future as a result of adopting new methodologies for the concept of quality of life at various levels. The value of opportunities in this economy is expected to exceed $9 trillion by 2030.
The fourth transformation is represented by the “circular economy”, which will open the way for market opportunities estimated at $4.5 trillion, as it is expected in the future to increase public awareness of the importance of preserving the environment and reducing waste through the rational use of resources, which will open new opportunities for the circular economy and recycling. Rotation.
The fifth transition focuses on “carbon neutrality,” and the index expects the value of the resulting opportunities to exceed $4 trillion by 2030, due to the large trend of many sectors towards investing in energy-saving technology such as batteries, electric vehicles, energy-saving buildings, and others.
The sixth transformation addresses the “Biotechnology Economy “Biomaterials and New Agricultural Systems,” which will enhance the emergence of new opportunities for various sectors around the world, with a value exceeding $1.7 trillion for opportunities related to biotechnology, as rapid progress in biomaterials and plant sciences is expected to contribute Synthetic biology has led to qualitative achievements in various vital fields, fuel refining, and others.
The readiness index for future opportunities measures the ability of countries to exploit the potential emerging from future transformations to achieve future growth by studying three main areas of readiness, the first of which is the government’s future strategy and policies and the extent to which future transformations and directions are being led and the level of implementation.
The second axis studies the strength of sectors and the state’s capabilities to employ future trends through specific criteria and indicators such as sector establishment and potential for growth.
The third axis studies the basic capabilities and the state’s possession of the infrastructure, systems, policies, legislation, talents, and institutions to employ the opportunities of the future.
The index is based on publicly available global data from reliable sources such as the International Telecommunication Union, the United Nations Intellectual Property Organization, the World Economic Forum, and the World Bank. Indicators have also been developed for emerging areas such as data policies and artificial intelligence, in addition to an opinion poll of more than 5,000 business executives. About government policies and the possibilities of employing future trends in sectors. Countries were also chosen based on the level of development, availability of high-quality data, and the possibility of ensuring high-quality survey results.
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