UAE is the best country for entrepreneurs in 2022
Entrepreneurship depends upon the social and political conditions in which it operates. These can encourage or constrain a new business and have an impact on its growth into a more established enterprise that generates incomes and jobs. For instance, research has highlighted the importance of the rule of law and education systems in encouraging entrepreneurship.
Each year, the Global Entrepreneurship Monitor (GEM) presents its comparative assessment of national entrepreneurial conditions. The aim of this is to rank countries in terms of their ability to encourage new businesses. The results should be of interest to policymakers and entrepreneurs alike.
The GEM 2021/22 report includes a comprehensive National Expert Survey (NES). The NES captures the perspectives of over 2,000 experts across the 50 participating countries, about the conditions in their country.
Not surprisingly, high-income economies perform better than middle- and low-income economies on the NECI scores. The United Arab Emirates (UAE), with the highest NECI score of 6.8, emerges as the best country for entrepreneurs in 2022, followed by the Netherlands, Finland, Saudi Arabia, and Lithuania.
The UAE has the highest total score by a clear margin, having improved in 11 of the 13 framework conditions since 2020, and scoring highest of all economies in four of them. This could be due to a combination of reasons, including the country hosting high-profile entrepreneurship promotion events like Expo 2020.