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 total of 25,647 new economic licenses were issued, with 75,778 licenses renewed, reflecting a commendable growth rate of 3.5%.
   - The active licenses in the emirate increased by 10.9%, reaching a total of 143,617.3. Sector-specific Growth:
   - The professional, tourism, industrial, agricultural, fishery, and livestock sectors experienced noteworthy expansion.
   - The industrial sector saw a 51.25% increase in new licenses, totaling 363.
   - New tourism licenses and licenses in agriculture, fishery, and livestock grew by 22.35% and 288.46%, respectively.4. Rise in ‘Real Beneficiary’ Requests:
   - ‘Real beneficiary’ requests witnessed an impressive surge, skyrocketing from 16,282 to 49,163, marking a remarkable 201.9% increase.Expert Insights:
Rashed Abdulkarim Al Blooshi, Undersecretary of ADDED:
   - Al Blooshi emphasized that the report reflects Abu Dhabi’s prowess in attracting quality investments. He attributed the success to ADDED’s initiatives, highlighting the alignment with the economic diversification strategy. The focus on infrastructure, digital transformation, and regulatory frameworks has created promising opportunities for investors, entrepreneurs, and talents.Mohammed Munif Al Mansouri, Executive Director of Abu Dhabi Business Centre:
   - Al Mansouri hailed the indicators as a testament to Abu Dhabi’s business sector’s flexibility and vitality. He underscored the emirate’s ability to provide attractive opportunities for entrepreneurs and investors, both domestically and internationally.Abu Dhabi’s Business Activity Report for 2023 paints a vibrant picture of economic growth and diversification. The emirate’s strategic initiatives, coupled with its commitment to creating a conducive business environment, have led to a surge in investments and a flourishing entrepreneurial landscape. As Abu Dhabi continues to evolve as a global business hub, I can see the prospects for investors, entrepreneurs, and talents remain promising, reflecting a resilient and dynamic economic trajectory.

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