Dubai remains one of the world’s leading cities for growth, find Oliver Wyman report
Oliver Wyman has released an in-depth study highlighting cities worldwide that are set to power the next era of business growth. Led by Tokyo and New York, Dubai ranks 12th on the global list.
Despite ongoing uncertainty impacting Dubai’s growth trajectory this year, the report takes a longer-term perspective on growth and outlook, finding that Dubai remains one of the most exciting growth cities in the world.
Oliver Wyman, a global strategy and management consulting firm, ranks 1,500 cities representing more than 75% of global GDP across five factors: commercial vibrancy, connectivity, supply chains, innovation, and climate resilience.
Ranked based on what the authors describe as “supporting next-decade growth,” Dubai places 12th globally, just behind Hong Kong and Chicago. It is notably the only Middle Eastern city in the top 20, which is led by Tokyo and New York, followed by Seoul, London, Shanghai, Los Angeles, Paris, Beijing, and Singapore, which round out the top 10.
The report highlights Dubai as the fourth most connected city worldwide, with 288 cities served by its airports Dubai International Airport (DXB) and Al Maktoum International Airport (DWC).
Jebel Ali Port, its major logistics hub, ranks among the world’s top 10 container ports, handling more than 15 million TEUs. The emirate is also recognized for its ability to develop transport infrastructure and industrial zones that attract foreign investors seeking fast-growing domestic and regional markets.
Talent is another area where Dubai performs strongly. The report notes that 50% of CEOs see talent and workforce as a top three opportunity over the next three years. Dubai is cited as a city attracting global talent through low or zero personal income tax rates, as well as long-term residency permits and fast work visa processing. This enhances the city’s competitiveness, particularly for foreign companies seeking to establish a base in the region.
Wider GCC region outlook
Beyond Dubai, Oliver Wyman highlights in its report to how the Gulf region has maintained business continuity and sharpened its focus on resilience, while continuing to execute plans to sustain long-term competitiveness trajectories.
The authors cite the development of Gulf cities such as Dubai, Abu Dhabi and Riyadh as evidence that ambitious leadership can enable smaller cities to compete successfully with established global centres. Last year, all three cities also were listed as a ‘Global City of Choice’ in another benchmark.
Ben Simpfendorfer, Partner at Oliver Wyman and co-author of the report, said: “The next phase of global growth will not be defined by a single set of dominant cities. Companies are looking at which combinations of cities give them access to customers, talent, logistics, innovation and resilience. That is where the Gulf Cooperation Council is increasingly relevant.”
“Dubai’s growth and connectivity, Abu Dhabi’s institutional and talent strengths, Riyadh’s momentum under Vision 2030, and Doha’s continued infrastructure development all point to a region investing in capabilities global companies will need in a more fragmented world.”
He added: “Recent volatility reinforces the need for resilience, but it does not remove the region’s long-term fundamentals. Gulf cities are not insulated from global risk, but many of the investments already underway – from transport infrastructure and industrial capacity to digital ecosystems, talent policy and institutional development – are closely aligned with the way business geography is changing.”
