The ranking determines how many countries the holder can enter either without a visa or be issued one upon entry.
Dr Anwar Gargash, Minister of State for Foreign Affairs, has said he wants the UAE passport to be among the world's top five by 2021.
The ranking, by global citizenship advisory group Henley & Partners, measures the power of passports by the number of countries the holder can access either visa-free, or with a visa obtainable on arrival.
On the global stage, Japan is the current passport champion, with Japanese citizens able to access a record total of 190 destinations around the world.
Filipinos now have visa-free access to ASEAN nation-states, and several other countries.
Japan surged to the top of the latest list because earlier this month, Myanmar became the 190 country to give Japanese visitors a visa waiver, the Liberty Times reported. Every CBI program country has improved its visa-free/visa-on-arrival score since the start of the year.
Afghanistan's and Iraq's passports were the weakest in the October survey, with accessibility to 30 destinations each.
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Many ranking spots are shared by multiple countries with access to the same number of destinations.
In this year's ranking, both United Kingdom and USA have slipped the charts with 186 destinations.
Germany, which began 2018 in the top spot, is now in third place with 188 destinations, tied with France and South Korea.
VISA-FREE TRAVEL? The Philippines, unfortunately, isn't as lucky as its Asian neighbors.
The United Arab Emirates is the decade's biggest success story when it comes to travel freedom.
The index also identified the countries with the greatest improvement in visa-free travel for citizens, including China and the UAE - which secured the most visa-waiver agreements out of all the countries this year, CNN reported.
"Along with the Henley & Partners - Kochenov Quality of Nationality Index, the Henley Passport Index is considered the most credible reference tool within the investment migration industry", it said.