WHAT DINA THINKS: Abu Dhabi’s Business Activity Soars in 2023
Hi expats! As you may know, Abu Dhabi stands out in terms of growth and economic resilience. The recently released “Business Activity Report” for the year 2023 by the Abu Dhabi Department of Economic Development (ADDED) paints a compelling picture of the emirate’s robust business ecosystem. The report showcases a remarkable surge in key indicators, underlining Abu Dhabi’s attractiveness to investors and its commitment to economic diversification. 1. Overall Growth in Business Licenses: - The report reveals that a staggering 24,143 commercial sector licenses were issued in 2023, constituting 94.1% of the total licenses issued. - New occupational licenses and professional licenses witnessed significant growth, reaching 411 and 410, respectively. - The total capital of new economic licenses announced surpassed AED 210.7 billion, signaling a strong inflow of investments. 2. License Issuance and Renewals: - In 2023, a to...