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Dubai: A new study has revealed that the number of entrepreneurs in the UAE has nearly doubled in the past year, turning it into the country with the highest percentage of entrepreneurs in the Middle East.
The findings were part of a study carried out by LinkedIn, a global professional network, that examined the movement of individuals across job functions and industries. The research was based on an analysis of UAE profiles created and completed between March 2015 and March 2016.
According to the study, the majority of entrepreneurs arrived in the UAE from countries in the Middle East, and more specifically from Syria, Iraq, Jordan and Palestine. Entrpreneurs also came from Switzerland, Egypt, South Africa and Spain.
Ali Mattar, Head of LinkedIn Talent Solutions for Southern Europe, Middle East and North Africa, said: “The UAE has evolved to be a preferred destination for entrepreneurs and innovators from across the world.
The study confirms the country’s status as a strong economy and an appealing working environment that is highly capable of competing on a global scale.”
The study reveals that the number of LinkedIn members in the UAE who identify entrepreneurship as their job function increased by a year-on-year (YoY) growth rate of 98.3 per cent.
The increase was the most visible in the Professional Services industry, which includes tax advice, accounting consultancy and business consultancy. This was followed by the technology sector, and then lastly, the retail and consumer product sector.
The study also indicated an increase in the percentage of professionals in the UAE who have moved to work for smaller companies, with a 10 per cent YoY increase in the number of people who worked in companies with fewer than 200 employees.
Hussain Al Nowais, Chairman of Khalifa Fund for Enterprise Development said, "Building an environment in which entrepreneurship can flourish is one of the key priorities within the UAE's wider innovation agenda.
Today this includes expanding access to information and modern digital tools, as well as fostering a culture of invention across the public and private sectors.”
Top 5 countries sending those that define themselves as entrepreneurs in the UAE
1. Middle East *
4. South Africa