ADGM Emerges as Leading Financial Hub in 2024

ADGM, the international financial center of Abu Dhabi, is making waves in the financial world with its remarkable growth. In the first quarter of 2024, there was a staggering 211% increase in Assets Under Management (AUM) compared to the same period in 2023. This growth solidifies ADGM's position as the fastest-growing financial hub in the region.

One of the key factors driving ADGM's success is the surge in operational entities, workforce size, and overall ecosystem development. This growth reflects ADGM's commitment to becoming a leading international financial center, further enhancing Abu Dhabi's reputation as a global financial powerhouse.

The asset management sector in ADGM has witnessed a significant uptick, with a growing number of global asset managers setting up operations within the center. As of March 2024, there were 107 fund and asset managers managing 137 funds within ADGM, showcasing the center's appeal to financial firms worldwide.

ADGM's attractiveness stems from its adoption of English common law, which has attracted a diverse range of regional and global firms to establish a presence in the center. By March 2024, the total number of operational entities in ADGM had reached 1950, including 291 financial services entities. The workforce in ADGM has also expanded to over 25,000 individuals, highlighting the center's allure for talent and investment.

Looking ahead to 2024, ADGM's outlook remains positive, with many companies planning to expand their workforce within the center. The transition of businesses to Al Reem Island is progressing smoothly, supported by various initiatives and incentives introduced by ADGM.

ADGM's growth trajectory and strategic initiatives position it as a thriving financial hub, contributing significantly to Abu Dhabi's economic goals. With its rapid expansion and attractive business environment, ADGM continues to enhance Abu Dhabi's appeal as a premier destination for professionals and investors.