In seven years, the UAE aims to double total foreign direct investment to $354 billion and triple the FDI balance to $599 billion as part of its National Investment Strategy 2031.
This vision revolves around five key pillars: attracting fresh investments, expanding current initiatives, building stronger global partnerships, improving investor relations, and enhancing competitiveness across the board.
Abu Dhabi, the capital of the UAE, is front and center of the country’s ambitious goal. It’s a strategy that seeks to build on Abu Dhabi’s rise to international prominence and the growing importance of ADGM as an international financial center. And this December, all eyes will be on Abu Dhabi as it hosts ADFW.
The region’s premier financial event is one of the many contributing factors to how the city has risen as a global economic hub and become a favored destination for investment.
Returning for its third year between December 9 to 12, ADFW is poised to surpass previous editions with over 20,000 expected attendees taking part in more than 60 events.
Furthermore, the theme of the four-day event, “Welcome to the Capital of Capital,” captures Abu Dhabi’s commitment to continue reshaping the future of finance in the region and beyond.
Three years of ADFW
ADFW debuted in 2022, convening C-suite executives, public and private sector leaders, and innovators to engage in meaningful financial dialogues. The event is held under the patronage of H.H. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council and is presented by ADGM.
Financial success is deeply rooted in strategic partnerships and collaborations. ADGM is dedicated to delivering a platform that fosters these essential connections, supporting growth and innovation across industries. With the third and largest edition of ADFW, the event aims to solidify Abu Dhabi’s status as the ‘Capital of Capital’ creating an environment where leaders and decision-makers can build lasting ties that extend well beyond the event itself.
In 2023, ADFW recorded over 18,000 attendees and 3,500 C-level participants. Meanwhile, a total of 14 major financial institutions with an AUM of $452 billion announced plans to establish a presence within ADGM. These include NinetyOne, Rothschild & Co, GQG Partners, and eToro. That was a major achievement for the event that had the global investment community watching, turning the spotlight yet again on ADGM as an international financial center and on Abu Dhabi.
A reputable financial hub
ADGM also saw an increase in the number of registrations by operational entities— from 1,378 in 2022 to 1,825 in 2023. This represents a 32 percent year-on-year (YoY) jump.
Along with this growth, ADGM continued to attract talent, with its total workforce increasing from 10,954 in 2022 to 13,394 in 2023. This reflects a 22 percent YoY rise. In terms of investment firms and hedge funds with a presence within ADGM, data shows that there are a total of 102 asset managers managing 128 funds.
All these contribute to cementing Abu Dhabi’s favorable reputation in the asset management market. These figures highlight Abu Dhabi’s growing role as a key driver of the global financial ecosystem. They serve as clear indicators of the emirate’s strong position on the international financial map, reflecting the trust placed in the UAE capital by the global community.
This trust drives continuous efforts to enhance offerings and operations, further solidifying Abu Dhabi’s leadership in the financial sector.
The momentum is growing
In fact, in the first half of 2024, ADGM experienced significant growth. The number of operational entities increased to 2,088, which includes 231 financial services ADFW SPECIAL EDITION 2024 entities.
This represents a 31 percent increase compared to the previous year. Additionally, 42 new Financial Services Permissions were granted, a jump of over 90 percent from the 22 issued in early 2023.
Furthermore, by the end of June 2024, ADGM had issued 1,271 new licenses, showing a 20.5 percent increase from the year before.
A fruitful gathering
Moreover, ADFW is presented as the centerpiece showcase of Abu Dhabi’s rise as the Falcon Economy and Capital of Capital.
This year’s edition promises to be another not-to-be missed event in the financial and investment community. Chris Hughes, ADFW editor-in chief, shares why the event is on the radar of business and financial leaders from around the world. “The future of finance is being shaped here.
Over the past two years, I have seen leaders across the globe come together. And it’s an incredible experience to be able to witness these elites engage with one another,” he stated. “2024 will be more engaging. The agenda is more diverse and dynamic. There’s something here for everyone,” Hughes added.
Insightful financial discussions
Over four days, ADFW’s role as a catalyst of insightful financial discussions will take center stage, with a jam-packed agenda comprising various interesting forums and sessions. These further include the Abu Dhabi Economic Forum, Asset Abu Dhabi, Fintech Abu Dhabi, and Abu Dhabi Sustainable Finance Forum. The topics will range from Abu Dhabi’s growing importance in the financial world and tech-driven investment trends and strategies to sustainable finance. Inclusivity is also at the core, courtesy of forums dedicated to youth and women.
Beyond these, there are also new events that showcase ADFW’s intent to be an ever innovative event. These include the Abu Dhabi Capital Markets Forum, UAE-China Investment Summit, Future of Talent Summit and Islamic Finance Summit.
ADFW’s annual agenda is made even more impactful through insights from notable personalities in the field. Among the event’s hall of fame speakers is Alan Howard, founder of Brevan Howard.
At the end of ADFW, apart from hosting strategic discussions among financial elites, the event aspires to foster a new generation of business and investment leaders who will drive positive changes in the economy.
Speaking at a previous edition of FinTech Abu Dhabi, Gary Cohn, vice chairman at IBM, noted how vibrant Abu Dhabi’s—and the UAE’s—economy is, underscoring why it’s a fitting host of such a fruitful gathering. “Abu Dhabi, Dubai, and the UAE—they are all sitting in the middle of the global economy. The UAE is in a dominant position to drive mindsets, set opportunities, and really drive thoughts in the evolution of the world’s markets and the world’s thoughts,” he remarked.
Read more | What to expect at ADFW 2024: Four days of action-packed sessions and events
Beyond a financial capital
Apart from being a financial hub, Abu Dhabi is positioned to encapsulate what a true “Capital of Capital” is. The city isn’t only a monetary capital but also a center for technological innovation (especially in the field of artificial intelligence) and cultural excellence (with the construction of world class institutions like the new Guggenheim Museum).
It’s also a thriving human capital that continues to attract top talents from various parts of the globe. Abu Dhabi takes pride in ranking first in terms of ease of doing business in the Middle East. According to the World Economic Forum’s Global Competitiveness Index, it’s also the first in the region.
Globally, the city is considered the safest. Region-wise, it’s the happiest and smartest. These characteristics all the more reinforce Abu Dhabi’s credibility to host an event as pivotal as ADFW.
Ray Dalio, an ADFW hall-of-fame speaker and founder and CIO Mentor of Bridgewater Associates, previously spoke to the media to commend Abu Dhabi: “I have been coming to Abu Dhabi for over 30 years, so I’ve seen it change a lot and I’ve seen the principles behind its success evolve. They were the same basic principles. They were timeless and universal principles that make a country great.”
ADFW’s biggest year yet
As a highly anticipated and closely watched event, all eyes are indeed on ADFW. This year’s ADFW is set to achieve a record number of attendees, highlighting the scale of its latest edition. It further marks a milestone in establishing ADFW as a pivotal platform for driving innovation and collaboration within the financial sector. Though only in its third edition, ADFW shows great promise in continually redefining the future of finance. With its rapid growth and global reach, the future editions of ADFW are bound to be even more exciting.
