UAE most prosperous country in the Middle East

United Arab Emirates ranks as number one prosperous country in the Middle East, and globally sits as the 30th out of 110 countries in the latest global prosperity index, local newspapers reported on Thursday.

The Legatum Prosperty Index covers 90 percent of the world’s population and defines prosperity in terms of quality of life and happiness.

“The Legatum Prosperity Index is the world’s only global assessment of wealth and wellbeing. It uses a holistic definition of prosperity, which includes factors ranging from economic growth to health and education, to personal freedom and governance,” Ashley Lenihan, Senior Fellow at the Legatum Institute, quoted by the Gulf News.

Lenihan also added that the prosperity index also found out those countries that foster a strong culture of entrepreneurship are the ones who are best positioned to overcome financial difficulties resulting from the world’s worst financial crisis since WWII.

Health, education and entrepreneurship according to the index are the key drivers to economic growth and personal wellbeing.

The index also eyes the wealth of the population as an indicator of prosperity, and it revealed that the UAE population has the highest access to mobile phones in the world.

The report said that good internet service and access to secure servers also helped the ranking as they indicate a strong infrastructure for entrepreneurship.

People surveyed

In the UAE, 1,041 Emiratis and Arab expatriates were surveyed by Gallup world poll for the index.

Farah Kaawash, an Abu Dhabi resident of three years, described her life in the UAE as comfortable.

The health care system works so well, said Kaawash, a Lebanese citizen. “There’s health insurance. Hospitals are all well equipped,” she told The National.

“When it comes to rules and regulations it’s all very well organized.” However, good education is too expensive, she added.

Lorna Hill, a resident of Dubai, said the UAE’s ranking should have been higher. “I think it’s a little unfair,” she told The National.

“I would say the quality of life is very high. We live very lavishly compared to our life back home,” said Hill, who’s from the United Kingdom.

“In the UK, everything’s quite expensive and in comparison, most things are cheaper here, except for rent,” she said. “We also get taxed very heavily in the UK.”

I would say the quality of life is very high. We live very lavishly compared to our life back home

UAE resident from the UK

Different nationalities different pay

UAE was able to attract a large population of westerners through lucrative pay packages, and most expats are paid in comparison to their home countries' currency exchange.

One Great Britain Pound is equal to around six Dirhams, while most laborers hailing from the Subcontinent and the Philippines have one UAE Dirham equal to more than a ten note of their perspective countries.

In a country that bans public protest, the UAE had around 1,500 Asian workers in 2008 staging a violent protest for higher wages. Construction workers receive around $200 a month.

According to the index, the UAE came ahead of the world’s emerging markets such as Brazil, Russia, India and China.

Nordic countries topped the index with Norway, Denmark and Finland taking the top three posts respectively, while Pakistan and Zimbabwe were the least prosperous countries in the world.

The 1,041 surveyed reveal that Emiratis and residents generally enjoy an above-average level of security and safety, 95 percent of people surveyed said they felt safe to walk home alone at night.

The country is reported to have a relatively low level of refugees and low levels of group grievances based on historical differences.