Plus, why Sheikh Mohammed says “competition will only increase our excellence.”

If you’ve been thinking about packing in the 9-5 and going freelance, this might just be the little push you need.

According to a new study, the UAE is one of the best countries in the world to be your own boss.

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Beaten out by only Hong Kong, the USA, and South Korea, the Emirates rated highly, according to UK business site Expert Market

The study, which compared 57 countries, looked at cost of living, income tax, access to credit, average internet speed, transport networks, the availability of free wifi, the cost of a coffee, and the cost of starting a new business.

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Seems pretty comprehensive to us, and we’d bet that the UAE’s tax-free lifestyle helped us slide into the top five.

Other countries that did well in the study included the UK, Spain, New Zealand, Estonia, Bulgaria and the Czech Republic.

That’s not the only measure that the UAE is performing well in, though. HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, says the Emirates is ranked number one globally in 50 different international development indices.

The country was a leader in terms of government spending and decision making, tolerance for foreigners, technology, and partnership between public and private sectors, among other factors, HH Sheikh Mohammed said.

“Our goal is to lead globally in all areas, and our development is advancing daily, while competition will only increase our excellence,” His Highness continued.

“The UAE’s success is also an Arab success and not just Emirati, and our knowledge will remain open to our all Arab brothers.”

All the more reason to stick around, we’d say.

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Images: Getty