Abu Dhabi, UAE: A total of 70.81 percent of companies anticipate expanding their workforce in Abu Dhabi Global Market during 2024, with 29.93 percent expecting significant increases and 40.88 percent planning moderate growth in staffing, a study said.
According to the study by ADGM, the international financial center (IFC) of the emirate, Asset Management is poised to take the lead, as 18.56 percent of respondents recognize its significant growth potential.
Following closely are the Fintech and the fields of Digital Assets, Blockchain, and Distributed Ledger Technology (DLT), with 17.08 percent and 16.83 percent of stakeholders banking on their rise, respectively.
These sectors are reinforced by the growing interest in Sustainable Finance and Private Banking and Wealth Management, which are also projected to experience substantial growth. Furthermore, Professional Services are forecast to continue their upward trend, ADGM said in a statement.
ADGM as a premier IFC
The survey shed light on the unique attributes that define ADGM’s appeal as a business hub. Notably, 21.35 percent of participants acknowledged the robust regulatory environment as a cornerstone of ADGM’s competitive edge. The market’s strategic location was also highlighted by 19.66 percent of the survey pool, underlining ADGM’s role as a strategic gateway for tapping into the MEASA region and beyond. The multitude of networking opportunities (17.04 percent), the exceptional quality of life (14.98 percent), and the diverse community (14.04 percent) were also recognized as key strengths that contribute to ADGM’s position as an attractive business destination, ADGM said. In addition, the availability of a skilled workforce, acknowledged by 11.24 percent of respondents, emphasizes the market’s capacity for attracting and fostering professional talent.
Business Community Confidence in ADGM
The confidence in ADGM is further reinforced by the readiness of the business community to recommend the IFC to businesses. An impressive 97.08 percent of business leaders express a positive inclination towards endorsing ADGM. Among them, 71.53 percent are ‘Highly likely’ and an additional 25.55 percent consider themselves ‘Likely’ to recommend it.
Abu Dhabi: Safety, Stability and Quality of Life
A combined 78.84 percent of respondents endorse Abu Dhabi’s overall livability positively. This endorsement highlights the city’s effectiveness in delivering an outstanding quality of life, supported by superior infrastructure, affordable living costs, and luxurious community facilities. Additionally, Abu Dhabi’s achievement in being ranked as the world’s safest city for the 8th consecutive year further underlines its excellence in ensuring the security and well-being of its residents, making it an even more attractive destination for both expatriates and nationals.