UAE Emerging as Global Hub for Asian Techies

The UAE is rapidly gaining recognition as a competitive and growing tech hub, according to recent survey conducted by Capital.com, a global trading platform and the Middle East’s fastest-growing technology company.

The survey, which was conducted between 11 and 28 July 2024, polled 1,000 respondents across Singapore, Hong Kong, Vietnam and India, and found that 81% of Asian tech professionals said that the UAE has been growing as a tech hub. A further 76% of respondents said that the UAE provided a conducive environment for the tech industry.

Announcing the survey findings on Wednesday, Capital.com said that the UAE’s growing reputation as a burgeoning tech hub has fuelled interest among tech workers across the region, with nearly half (45%) of respondents expressing a willingness to relocate to the UAE for work, out-ranking countries like Germany (38%) and Hong Kong (20%) as popular relocation destinations.

This placed the UAE in close competition with other prominent destinations such as Singapore (46%), the UK (57%), and the US (52%) as preferred locations for relocation among tech professionals.

Capital.com CEO Tarik Chebib said that with 8 in 10 respondents from their survey recognising the UAE as a competitive tech hub, it’s clear that the region is gaining momentum as a favourable destination for tech talent.

“Asia’s tech professionals have traditionally gravitated to cities in the UK, the US and Singapore to further their careers, so it’s encouraging to see the UAE stand shoulder-to-shoulder with this cohort and get the recognition it deserves as an attractive location to live and work,” Chebib said.

Government’s Crucial Support

Government support is the key factor contributing to the UAE’s growing reputation as a tech hub and relocation destination of choice. Of those surveyed, 93% opined that it was important to have a government that supported the tech industry, highlighting the UAE’s concentrated push to develop the country as a hotspot for international tech talent. 

As much as 74% of those surveyed cited the UAE’s banking, visa, special healthcare/health insurance packages, and real estate services for qualified tech professionals, as factors. More broadly, respondents also say that a high quality of life (60%), attractive remuneration (54%) and the UAE’s strategic location (52%) also feed into their decision to relocate.

“As a leading partner of the UAE’s NextGenFDI initiative, we have seen first-hand the government’s commitment to support and grow the tech sector. The UAE’s business-friendly environment, forward-thinking policies, investment in innovation, and position as a gateway to the Middle East, Africa and Asia, makes it an ideal location for companies and talent alike. Capital.com is proud to contribute to the sector’s growth and innovation in the UAE.” Chebib said.

While all respondents indicated their willingness to relocate, 47% indicated that they were actively looking to relocate, highlighting the huge potential for the UAE to attract and retain tech talent.

“As a company operating in the UAE that is licensed by the Securities and Commodities Authority (SCA), we need to draw on an exceptional pool of talent to meet our exacting business and regulatory needs,” Chebib said.

He continued: “This means searching for the best talent, from anywhere in the world. Given the UAE’s pro-talent stance and growing appeal as a tech destination for professionals, we have had no problem recruiting talent from as far afield as the UK, Europe and Australia. Employees are eager to relocate to a country that not only supports their personal needs but also provides fertile ground for further development within the tech sector.”