Abu Dhabi and Dubai among 'contenders' reshaping global economic landscape

Oxford Economics' latest report identifies Abu Dhabi and Dubai as two of 28 "cities to watch" reshaping the global economic landscape. The two emirates, along with Riyadh, represent the Middle East on the list, which also includes cities from Africa, Asia-Pacific, Europe, Latin America, and North America. The report ranks cities based on five metrics: economics, human capital, quality of life, environment, and governance.

Dubai has climbed nine spots from last year's list to enter the top 50 at 42, while Abu Dhabi has dropped by 11 to 84th place. Dublin retained the top spot overall, followed by London and Paris. New York, Seattle, San Francisco, and Tokyo also made the top 10. The report highlights how economic development in the Gulf region feeds off the success of Abu Dhabi's economy, and that the region's major cities are increasingly attracting the world's highest-skilled workers and most innovative businesses.

However, the current conflict in Iran poses a threat to this progress, as it could undermine the region's ability to attract skilled workers and capital due to wider geopolitical uncertainty.