Insight
The global economy has continued to display remarkable resilience in the face of historic higher for longer interest rates and sticky inflation, with the International Monetary Fund projecting a 3.2 percent expansion in 2024 and 3.3 percent next year. The robust growth being forecasted benefits GCC economies, especially the UAE. It is supported by continued diversification and economic resilience as the government pursues National Visions such as “We the Emirates 2031”.“The UAE offers a unique investment climate distinguished by its political stability, robust regulatory framework, and strategic location as a global business hub,” says Fadi Dabbagh, president of the board at AIX Investment Group.
“Unlike many emerging markets, the UAE has a diversified economy with vital sectors such as real estate, technology, finance, and renewable energy, reducing reliance on any single industry. This diversification provides resilience against global economic fluctuations.” Dabbagh’s optimism is not misplaced; numbers back it. The UAE’s robust business environment and policy reforms have strengthened its position as a key player in the global economy. Last year, the country attracted 45.4 percent of all foreign direct investment that flowed into Arab countries, totaling Dhs248.3bn, according to UNCTAD’s World Investment Report 2024.
Henley & Partners’ Private Wealth Migration Report, released in June, shows that the UAE is also set to see a record net inflow of 6,700 millionaires from around the world by the end of 2024. With a record-breaking 128,000 millionaires with a liquid investable wealth of $1m or more expected to relocate worldwide in 2024, Harish Prithvi, the COO of AIX Investment Group, asserts that the advisory firm understands that every client has distinct financial objectives, risk tolerance, and investment timeframes.
Discover how the UAE’s strategic vision and robust investment climate are shaping the future of global wealth. Read the full story in Gulf Business Magazine.