ADGM 2024 Growth Outlook: Over 70% Plan Workforce Expansion, with Digital Assets, Blockchain, and DLT at 16.83%
Standing as a beacon of vision and ambition in shaping the economic landscape of the United Arab Emirates (UAE) and the broader region, Abu Dhabi Global Market (ADGM) has published a comprehensive survey conducted among the ADGM community, which unveils a promising trajectory for the center in 2024, particularly in the realm of digital assets and finance.
The survey results paint a picture of robust growth across several sectors, with Asset Management emerging as a frontrunner, recognized by 18.56% of respondents for its significant growth potential.
A Hub for Digital Assets
Close on its heels are Fintech, Digital Assets, Blockchain, and Distributed Ledger Technology (DLT), with 17.08% and 16.83% of stakeholders foreseeing their ascent, respectively. This remarkable interest extends to Sustainable Finance, Private Banking and Wealth Management, poised for substantial growth.
Additionally, Professional Services are anticipated to sustain their upward trend, highlighting the dynamic evolution of ADGM’s financial landscape.
ADGM’s Unique Appeal as a Premier IFC
The survey also delves into the distinctive characteristics that underpin ADGM’s allure as a business hub.
A notable 21.35% of participants underscored the robust regulatory environment as a cornerstone of ADGM’s competitive edge. Furthermore, the strategic location garnered recognition from 19.66% of respondents, emphasizing ADGM’s pivotal role as a gateway to the MEASA region and beyond.
Networking opportunities (17.04%), quality of life (14.98%), and a diverse community (14.04%) were also cited as key strengths. Moreover, the availability of a skilled workforce, acknowledged by 11.24% of respondents, underscores ADGM’s capacity to attract and nurture professional talent.
Anticipated Employment Surge and Business Community Confidence in ADGM
Optimism radiates through ADGM’s economic forecast, with 70.81% of companies anticipating workforce expansion in 2024. A substantial 29.93% expect significant increases, while 40.88% plan moderate growth, reflecting Abu Dhabi’s robust economic health and unwavering confidence within the business community.
On another note, confidence in ADGM is palpable, evidenced by the overwhelming readiness of business leaders to recommend the center to enterprises. An impressive 97.08% express positive inclinations, with 71.53% labeling themselves as ‘Highly likely’ and an additional 25.55% as ‘Likely’ to recommend ADGM.
This resounding endorsement underscores confidence in ADGM’s world-class regulatory framework, advanced infrastructure, and exceptional business opportunities. It reflects ADGM’s comprehensive approach to fostering a supportive, innovative, and thriving business ecosystem, positioning it as a premier IFC and a beacon of economic activity.
Abu Dhabi: A Haven of Safety, Stability, and Quality of Life
A staggering 78.84% of respondents laud Abu Dhabi’s overall livability, affirming the city’s commitment to delivering an exceptional quality of life.
Supported by superior infrastructure, affordable living costs, and luxurious community facilities, Abu Dhabi continues to attract residents and businesses alike. Its title as the world’s safest city for the 8th consecutive year further solidifies its reputation for ensuring the security and well-being of its population, making it an irresistible destination for both expatriates and nationals alike.
In conclusion, ADGM’s trajectory in 2024 is marked by optimism, propelled by its strategic focus on digital assets, robust regulatory framework, and conducive business environment.
As Abu Dhabi continues to thrive as a city of safety, stability, and quality of life, ADGM stands poised to lead the charge in shaping the future of finance in the region and beyond.
