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February 12, 2017 | 18:50 | Dubai
DHL Express, the world’s leading international express services provider, has released the fourth edition of its Global Connectedness Index (GCI) – a detailed analysis of the current state of globalization around the world. The GCI 2016 provides a unique look at the development of global trade and has revealed that the UAE is the 10th most connected country in the world.
The report, which measures ‘global connectedness’ through analyzing cross-border flows of trade, capital, information and people, was run by globalization expert Pankaj Ghemawat. The facts and figures shared in DHL’s Global Connectedness Index are used to inform business owners and government of the benefits of globalization to both developing and developed economies.
The UAE’s Global Standing
The DHL GCI 2016 has shown the UAE as the 10th most connected country in the world – a ranking that puts it in a highly esteemed position with Singapore, the Netherlands and the United Kingdom sitting only a few spots ahead.
In this, the fourth edition of the report, DHL have introduced a brand new index – ‘Globalization Hotspots’. This new ranking system takes a look at the growing globalization and urbanization of cities. This means that all high ranking cities in this index have a high flow of international trade, capital, people and information compared to the internal activity of the country. Both Dubai and Abu Dhabi were rated in the top ten globalization hotspots – at fourth and ninth place respectively.
Geoff Walsh, DHL Express’ Country Manager for the UAE, expanded on the findings, saying: “The latest DHL Global Connectedness Index places the UAE as one of the most connected countries in the world, as well as naming both Abu Dhabi and Dubai as globalization hotspots in its newly introduced ranking. The UAE has built a strong ranking through its policymakers and business leaders recognizing the benefits of globalization and the sharing of information, people and trade across borders.
“The UAE, being the largest trade hub in the region and due to its unique position connecting the West and East, has been able to make great advancements in its global connectedness over the last four years. Of course, there is room for the country to continue to develop, as well as help the Middle East and Africa develop and become more connected with the global and open supply channels. One way in which the UAE is unique in the region is due to its newly established Authorised Economic Operator certification which will actually help in creating fast and efficient supply chains between countries.”
Connectedness on the Rise Globally
DHL’s GCI report, as well as giving detailed findings on the connectedness of individual countries, also provides a comprehensive overview of the world’s state of globalization and connectedness. Findings from the 2016 report show that global connectedness has been growing slowly post the global financial crisis. The preliminary evidence suggested that global connectedness sits at 8% more in 2015 than it was in 2005.
Points to Take Away from DHL’s GCI 2016