The Change Readiness Index (CRI) ranks 127 countries, both developed and developing, by assessing their ability to manage change and cultivate opportunity.
UAE ranks 5th worldwide and 1st in MENA region in KPMG global 2015 research.
Change Readiness Index: what is it?
The index is designed to measure how effectively a country’s government, private and public enterprises, people and wider civil society anticipate, prepare for, manage and respond to change and cultivate opportunity.
Examples of change include:
- Shocks such as financial and social instability and natural disasters
- Political and economic opportunities and risks such as technology, competition and changes in government.
A wide range of public and private organizations can use the CRI, for example to:
- Improve government policy by benchmarking national strengths and weaknesses and identifying areas in need of reform;
- Inform public and private investment decisions by highlighting the strengths and weaknesses of target countries;
- Build best practice by stimulating debate on change readiness and learning from higher-ranking countries.
Change Readiness Index: results
The UAE ranks 5th behind Singapore, Switzerland, Hong Kong and Norway while has emerged number one in the MENA region. It is the only Arab country that made it to the top five. Qatar, however, is trailing behind in the seventh place.
This comes following the recent announcement that 2014 was the UAE’s strongest economic year since its foundation by HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates (UAE) and Ruler of Dubai.
“The country has anticipated many global economic scenarios, and built a range of economic policies in order to be better prepared and equipped to manage a range of variables. Today we have a robust and diversified economic base, great confidence in the environment and the stability of our country, sureness and expertise to deal with a range of scenarios, and great optimism about the future and the projects we have launched,” the ruler said in a note released on June 20.
Produced in partnership with Oxford Economics, the index looked also at the business environment, technology access, as well as fiscal, regulatory and security capabilities, among several other indicators, of 127 countries.
The UAE scored highly in terms of economic openness, which is ranked third in the world, as well as in business environment (ranked 4th), infrastructure (4th), technology infrastructure (4th), labor market (5th) and economic diversification (9th).