Abu Dhabi Global Market (ADGM), the international financial center (IFC) of Abu Dhabi, exemplifies the vision and ambition that drive the economic landscape of the UAE and the broader region. A recent comprehensive survey conducted among the ADGM community provides insight into the promising prospects for ADGM in 2024.
According to the survey results, several sectors are experiencing strong growth trajectories, with Asset Management leading the way as recognized by 18.56 percent of respondents who acknowledge its significant growth potential. Fintech, Digital Assets, Blockchain, and Distributed Ledger Technology (DLT) closely follow, with 17.08 percent and 16.83 percent of stakeholders, respectively, placing their bets on their rise. Sustainable Finance and Private Banking and Wealth Management have also garnered growing interest and are projected to experience substantial growth. Additionally, Professional Services are expected to continue their upward trend, rounding out the sectors poised for expansion within ADGM’s dynamic financial landscape.
ADGM’s unique position as a premier IFC
The survey sheds light on the distinctive attributes that define ADGM’s appeal as a business hub. Notably, 21.35 percent of participants recognize the robust regulatory environment as a cornerstone of ADGM’s competitive edge. The strategic location of the market is also highlighted by 19.66 percent of the survey respondents, underscoring ADGM’s role as a strategic gateway for accessing the MEASA region and beyond. The multitude of networking opportunities (17.04 percent), exceptional quality of life (14.98 percent), and diverse community (14.04 percent) are also acknowledged as key strengths contributing to ADGM’s position as an attractive business destination. Furthermore, the availability of a skilled workforce, acknowledged by 11.24 percent of respondents, highlights the market’s ability to attract and nurture professional talent.
Expected increase in employment opportunities in ADGM
A total of 70.81 percent of companies anticipate expanding their workforce in ADGM in 2024, with 29.93 percent expecting significant increases and 40.88 percent planning moderate growth in staffing. This collective optimism reflects the robust economic health of Abu Dhabi and the strong confidence within the business community in the conducive business environment of the IFC.
Confidence of the business community in ADGM
The confidence in ADGM is further reinforced by the willingness of the business community to recommend the IFC to other 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. This substantial majority reflects the strong confidence that the global business community has in ADGM’s world-class regulatory framework, advanced infrastructure, and exceptional business opportunities. Moreover, it demonstrates that ADGM’s comprehensive approach to fostering a supportive, innovative, and thriving business environment resonates with the global business community, positioning it as a leading IFC and a hub of economic activity for the future.
Abu Dhabi: A city known for safety, stability, and quality of life
A combined 78.84 percent of respondents hold a positive view of Abu Dhabi’s overall livability. This endorsement highlights the city’s success in providing 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 underscores its commitment to ensuring the security and well-being of its residents, making it an even more appealing destination for both expatriates and nationals.
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