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From January 2022 to May 2022, Dubai welcomed 6.17 million overnight visitors.
wam file photo
The UAE is building a futuristic nation with a strong foundation for disruption and heritage, helping future generations tap limitless opportunities. The country has rolled out new reforms and investor-friendly policies, forcing the global business community to focus on advantages in the desert.
The rise of the national MICE industry is proof that people communicate in person with all safety measures intact. From January 2022 to May 2022, Dubai welcomed 6.17 million overnight visitors, with the largest number of international tourists coming from India at 707,000. The growing popularity has also been facilitated by the handling of Covid-19, which proved to the world that despite all the difficulties, business will continue. Stimulus measures, business digitization and remote working have been implemented to ensure business continuity.
Anthony Ritossa, Chairman of the Ritossa Family Office. — photo provided
“The UAE continues to be popular among family offices and high net worth individuals (HNWIs). Our recent investor summit in Monaco made it clear that, alongside other major destinations such as Monaco, Saudi Arabia and other fast-growing economic powerhouses, Many investors see the UAE as one of the most desirable global gateways in the world. The most popular sectors include impact investing and the Web3 ecosystem, with a particular focus on startups. As global venture capitalists increasingly seek to partner with We see great opportunity in the region as a way to expand our business growth,” said Anthony Ritossa, chairman of the Dubai-based Ritossa Family Office, who recently completed the 19th Ritossa Family Office Investment and A summit in Monaco with many participants from the Middle East and across the globe.
According to the “Global Venture Capital FDI Ranking 2022” report published by “fDi Intelligence” based on data collected from 2003-2021, Dubai ranks first in the Middle East and North Africa and 10th among global venture capital FDI projects. Further data from the Magnitt-backed Dubai FDI Monitor revealed that 84 Dubai startups managed to attract venture capital (VC)-backed FDI worth AED2.34 billion in 2021. Recently, Abraham Business Circle’s Dubai Investor Roundtable was successfully concluded with more than 200 participants from multiple countries and sectors. The event provides an overview of investment opportunities, new technologies, alliances for development partnerships, and insights from guest speakers, keynote speakers, inventors, innovators, and company owners.
Dr. Raphael Nagel, Founder and Chairman of the Abrahamic Business Circle.
The Abraham Business Circle promotes economic diplomacy through investment. The Global Business Networking platform provides its members with a global network of contacts to raise capital, buy and sell companies, find potential investments, joint ventures, distribution channels and new clients.
Dr Raphael Nagel, Founder and Chairman of Abrahamic Business Circle – a prominent private equity investor and venture capitalist – said: “Our activities typically focus on economic diplomacy to foster private and public Economic Growth.”
According to the Arab Investment Export Credit Guarantee Corporation (Dhaman), Arab countries have attracted 14,443 foreign projects in the past 19 years, with a total capital expenditure of $1.3 trillion. The number of foreign direct investment projects entering the region rose by 37% from 2003 to 2021, and capital expenditure rose by 1%, the firm said in its 37th annual report on the investment climate in the Arab countries to 2022. The UAE has secured a 41% share of FDI projects attracted from Arab countries between 2003 and 2021.
The Kuwait-based company added that the projects created around 2 million jobs. Compared with the same period in 2021, the number of foreign projects in the region rose by 15% in the first quarter of this year, and capital spending rose by 86% to $21 billion. Western Europe is the main investor in the region. In 2021, Saudi Arabia is the investment destination with the highest capex ($9.3 billion), while the UAE tops the list for the number of projects (455).
El Saadi, director general of the Saudi Business Council in Australia, said.
El Saadi, Director General of the Saudi Business Council of Australia, said: “The Middle East has gained enormous traction as both the UAE and Saudi Arabia are committed to diversifying and adapting to new trends, building their economies for future generations. Unlike in the past, I have witnessed first-hand the The way of doing business at the forefront has changed dramatically. A series of new reforms in the GCC show that the region means serious business.” — sandhya@khaleejtimes.com
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