ADGM Foresees Workforce Expansion In 2024 With Over 70% Of Companies Planning Growth

A recent survey conducted by the Abu Dhabi Global Market (ADGM) has unveiled a promising growth trajectory for several sectors within the UAE and the wider region's economic landscape. Asset Management is at the forefront, with 18.56 percent of respondents identifying it as a sector with significant growth potential. Fintech, along with Digital Assets, Blockchain, and Distributed Ledger Technology (DLT), are not far behind, garnering 17.08 percent and 16.83 percent of stakeholder confidence respectively. This insight into the ADGM community's perspective offers a glimpse into what could be expected in 2024, highlighting the sectors that are anticipated to lead in expansion.

The survey also sheds light on the unique attributes that define ADGM's appeal as a business hub. A robust regulatory environment is recognized by 21.35 percent of participants as a key component of ADGM's competitive edge. Furthermore, its strategic location is acknowledged by 19.66 percent of respondents, emphasizing ADGM's role as a gateway to the MEASA region and beyond. Networking opportunities, quality of life, and a diverse community were also highlighted as significant strengths contributing to ADGM's attractiveness as a business destination.

An optimistic outlook for employment within ADGM was revealed, with 70.81 percent of companies expecting to expand their workforce in 2024. Of these, 29.93 percent anticipate significant increases in staffing, while 40.88 percent foresee moderate growth. This optimism reflects Abu Dhabi’s strong economic health and the business community's confidence in the IFC's conducive business environment.

Business Community Confidence in ADGM

The confidence in ADGM is further underscored by the readiness of the business community to recommend the IFC to other businesses. An overwhelming 97.08 percent of business leaders expressed a positive inclination towards endorsing ADGM, with 71.53 percent being "Highly Likely" and an additional 25.55 percent considering themselves "Likely" to do so. This demonstrates the strong faith in ADGM's regulatory framework, infrastructure, and business opportunities.

Abu Dhabi: A City of Safety, Stability, and Quality of Life

The survey also highlights Abu Dhabi’s overall liveability, with a combined 78.84 percent of respondents endorsing it positively. This endorsement is supported by superior infrastructure, affordable living costs, and luxurious community facilities. Additionally, Abu Dhabi’s recognition as the world's safest city for the eighth consecutive year underscores its commitment to ensuring the security and well-being of its residents.

In conclusion, the survey conducted among the ADGM community paints an optimistic picture for several key sectors within Abu Dhabi’s economic landscape heading into 2024. With Asset Management leading the way and strong growth anticipated in Fintech and digital technologies, alongside a positive outlook on employment and high confidence levels among business leaders in ADGM’s capabilities, Abu Dhabi continues to solidify its position as a leading international financial centre and an attractive destination for professionals worldwide.

With inputs from WAM