The United Arab Emirates has been ranked 23rd in the world for attracting international talent – ahead of its Gulf Cooperation Council neighbours.
According to the Global Talent Index report, the UAE is the region’s best for retaining its expatriate workforce and for maintaining night-time safety for employees.
The UAE was also ranked eighth in the world for improving the economic social mobility of its workforce.
Qatar followed the UAE in 24th place, while Saudi and Kuwait came behind in 42nd and 51st place respectively.
The top three places were taken by Switzerland, Singapore and Luxembourg.
The report’s co-editor Bruno Lanvin said: “With a very welcoming business climate and liberal tax policies that are conducive to investment, the UAE has shown tremendous leadership in achieving its vision of a knowledge-based economy. With its high standard of living and cosmopolitanism, the nation continues to attract and retain talent from the world over.
“The UAE’s commitment to embedding innovation in its technology infrastructure and all aspects of knowledge creation and its transfer is exemplary.”
He added: “Temporary economic mobility of highly skilled people may initially be seen as a loss for their country of origin. But countries have to understand that this translates into a net gain when they return home. GCC countries have benefited from talent arriving from across the world and by building world-class universities to develop local human capital.”
However, the study also warned that automative technology could ‘destroy’ certain low-skill jobs, while medium-skill jobs may be increasingly displaced by algorithms in 2016.
This shift could even lead to entire sectors being displaced, according to the report.
People may have to work virtually for different employers from their homes, while others have to retrain and move far to obtain jobs, it added.