Toby Simpson

About Toby Simpson

Seizing business opportunities in the thriving Gulf economy

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Seizing business opportunities in the thriving Gulf economy

Toby Simpson

Our Middle East series has been designed to introduce you to the unique business and talent landscape of the region. In our first and second blogs, we investigated the phenomenal growth that the region has experienced and then explored some of the driving forces behind this. 

Seizing business opportunities in the thriving Gulf economy

Amidst the shifting sands of the Gulf region, a new economic narrative is unfolding – one of diversification, innovation, and resilience. As the global business landscape evolves, the Gulf economies present a compelling frontier for entrepreneurs and investors alike. In our third and final Middle East series blog, let’s explore the major trends shaping business opportunities in this dynamic region. 

Diversification drives growth

The Gulf economies are undergoing a remarkable transformation, fueled by active diversification efforts. While oil and gas sectors may show signs of underperformance, other industries are experiencing a surge in activity. Notably, sectors like asset management and professional advisory services are witnessing a surge in Initial Public Offering (IPO) activity, signalling a shift towards a more robust and diverse economic landscape. 

Addressing key social needs

Beyond financial markets, the Gulf region is addressing critical social needs, particularly in areas like pension reform and food security. With a growing and aging population, there’s a pressing need for robust pension systems and sustainable food production. Regional governments are investing heavily in agri-tech and food production initiatives, ensuring food security and driving growth in sectors like agriculture, retail, and logistics. 

Navigating uncertainty

Despite global uncertainties, the Gulf economies remain resilient, supported by committed capital investments and robust economic activity. While the prospect of a global recession looms, the Gulf’s self-reliance and strong governance structures position it well to weather potential storms. With a conducive business environment and ample opportunities across sectors, the Gulf presents a promising landscape for businesses seeking expansion. 

Is now the time to expand?

In considering expansion into the Gulf, businesses must weigh the risks and opportunities carefully. While global uncertainties persist, the Gulf economies offer financial scale and a supportive ecosystem for growth. Moreover, the region’s culturally diverse population and ease of doing business make it an attractive destination for businesses looking to make an impact.

The Gulf economies are at the forefront of economic transformation, offering a wealth of opportunities for businesses across sectors. As the region continues to diversify and innovate, entrepreneurs and investors are presented with a fertile ground for growth and expansion. By seizing the moment and tapping into the Gulf’s dynamic economy, businesses can embark on a journey of success and prosperity, joining the ranks of those who dare to dream and deliver. 

For a deeper exploration into the discussed topics, download our full Middle East Insights report.

If you are considering developing your presence in the Middle East, please consider speaking to our Hudson RPO leadership team here on the ground as we would be happy to offer the advice, guidance and support that our decades of experience in the region has to offer. 

Toby Simpson 
Managing Director Executive Search, EMEA 
Tel: +971 50 600 1105  
Email: [email protected] 

James Watfa 
Vice President Middle East, RPO 
Tel: +971 50 452 1819 
Email: [email protected] 

Toby Simpson

Managing Director, Executive Search EMEA, Hudson RPO

Toby is an executive search professional with long experience of executive and non-executive searches in investment banking, asset management and private equity; largely for portfolio companies across all sectors from agriculture to zoology.

Follow Hudson RPO on LinkedIn

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Navigating the Shift Towards Sustainable Growth in the Gulf

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Navigating the Shift Towards Sustainable Growth in the Gulf

Toby Simpson

Our Middle East series has been designed to introduce you to the unique business and talent landscape of the region. In our first blog of the series, we investigated the phenomenal growth that the region has experienced over recent years. 

Navigating the shift towards sustainable growth in the gulf

In the glittering landscape of Dubai, where skyscrapers touch the clouds and businesses buzz around the clock, a significant transformation is underway – a shift towards sustainable growth. Gone are the days of volatile boom-and-bust cycles, replaced by a new era of stability and long-term prosperity. In the second instalment of our Middle East series, let’s explore what exactly is driving this change, and what does it mean for businesses eyeing the Gulf region for expansion? 

A new economic landscape

Dubai’s history is marred by the echoes of economic downturns, most notably the crash of 2008. Today, however, while signs of rapid growth may trigger déjà vu, the landscape is fundamentally different. The UAE has diversified its economy, reducing reliance on the oil sector from 45% to just 29%, thereby mitigating the risks of major shocks. Strengthened regulatory regimes, coupled with a welcoming business environment and minimal taxation, have fostered an ecosystem ripe for sustainable growth. 

From petrodollars to permanence

One of the pivotal factors driving the Gulf’s transformation is a fundamental shift in mindset. Previously seen as a hub to tap into the region’s wealth, the Gulf Cooperation Council (GCC) now offers a conducive environment for globally ambitious ventures. The COVID-19 pandemic accelerated the rise of a globally mobile workforce, prompting the UAE to capitalize on the trend. Offering incentives like permanent residency and remote working visas, the Gulf countries are attracting top-tier talent and fostering a sense of permanence among expatriates. 

Global push factors

The allure of the Gulf extends beyond economic stability. Recent events, such as rising crime rates in Western cities and sluggish post-pandemic recovery, have prompted individuals and businesses to seek greener pastures. A notable example is a US fintech entrepreneur relocating his family and business headquarters from Chicago, citing concerns over safety. Similarly, a European private equity professional eyes the UAE for its promising lifestyle and burgeoning sectors like asset management. 

Embracing sustainable growth

Amidst these shifts, the Gulf region emerges as a beacon of sustainable growth and opportunity. Expatriates are increasingly putting down roots, drawn by a vibrant economy, world-class amenities, and a tax-friendly environment. As businesses recalibrate their strategies for expansion, the Gulf presents a compelling destination where innovation thrives, and success knows no bounds. 

The Gulf’s journey towards sustainable growth marks a pivotal moment in its economic evolution. What was once perceived as a transient hub for petrodollars has transformed into a permanent home for businesses and professionals alike. As the region continues to attract global talent and investment, businesses must seize the opportunity to be part of this transformative journey, where sustainability reigns supreme, and prosperity knows no limits. 

In part three of our Middle East series, we look at some of the vast opportunities on offer for businesses looking to capitalize on the thriving Gulf economy. 

For a deeper exploration into the discussed topics, download our full Middle East Insights report. 

If you are considering developing your presence in the Middle East, please consider speaking to our Hudson RPO leadership team here on the ground as we would be happy to offer the advice, guidance and support that our decades of experience in the region has to offer. 

Toby Simpson 
Managing Director Executive Search, EMEA 
Tel: +971 50 600 1105  
Email: [email protected] 

James Watfa 
Vice President Middle East, RPO 
Tel: +971 50 452 1819 
Email: [email protected] 

Toby Simpson

Managing Director, Executive Search EMEA, Hudson RPO

Toby is an executive search professional with long experience of executive and non-executive searches in investment banking, asset management and private equity; largely for portfolio companies across all sectors from agriculture to zoology.

Follow Hudson RPO on LinkedIn

What is RPO?

Learn More

What is MSP?

Learn More

Related articles

Understanding the Business and Talent Landscape in the Middle East

by

  • Blogs & Articles

Understanding the Business and Talent Landscape in the Middle East

Toby Simpson

Our Middle East series has been designed to introduce you to the unique business and talent landscape of the region. In our first blog of the series, we discuss the phenomenal growth that the region has experienced over recent years and what that might mean for businesses looking to expand into this part of the world.

Unveiling the phenomenal growth of the Middle East's commercial economy

The mesmerizing skyline of Dubai, gleaming under the sun, may evoke serenity, but within its bustling streets lies a different reality – one of frenzied business activity and unprecedented growth. Despite global trends of remote work reshaping office landscapes elsewhere, the Middle East stands out with its thriving commercial economy. Let’s delve into what’s driving this surge and why businesses are increasingly eyeing the region for expansion. 

Unprecedented demand for office space

Contrary to the global trend of remote work impacting office rents, the Middle East experiences record-high demand for Grade A office spaces. According to Cushman & Wakefield, the occupancy rates have soared, with a staggering 24% annual increase in prices. In Dubai alone, over the last three years, 13 million square feet of office space has been absorbed, indicating a robust demand for commercial real estate. 

Explosive growth in business activity

The numbers speak volumes – Dubai witnessed a 30% increase in active businesses in 2023, a remarkable 75% higher than just two years prior. The Dubai International Finance Centre, a hub for financial services, saw a significant rise in registered entities, fueled by a surge in private equity-backed ventures and a flourishing community of entrepreneurs. This surge in business activity is not limited to Dubai; neighboring Saudi Arabia emerges as a formidable destination for foreign direct investment (FDI), outpacing the UAE for the first time in history. 

Rising importance on the global stage

The Middle East’s economic prowess is gaining global recognition, with the region’s revenues accounting for a substantial portion of UK’s publicly traded companies’ (PLC) total earnings. As businesses seek to capitalize on robust GDP growth in the Gulf Corporation Council (GCC) region, the Middle East and North Africa (MENA) become increasingly vital markets for multinational corporations. 

Understanding the drivers behind the growth

While solid GDP growth underpins the region’s economic vitality, it’s essential to examine the factors propelling this rapid surge. Weaker oil prices and OPEC supply cut agreements have spurred diversification efforts, redirecting investments toward non-oil sectors. However, questions linger about the sustainability of this growth, given historical boom-and-bust cycles and external economic uncertainties. 

The Middle East’s commercial landscape presents unprecedented opportunities for businesses looking to expand their footprint. With soaring demand for office space, explosive business growth, and increasing global relevance, the region emerges as a lucrative market for investment. However, understanding the underlying dynamics and navigating potential challenges are crucial for long-term success in this dynamic and evolving economic landscape.

In part two of our Middle East series, we’ll delve into the some of the factors that businesses may want to consider when expanding into the region. 

If you are considering developing your presence in the Middle East, please consider speaking to our Hudson RPO leadership team here on the ground as we would be happy to offer the advice, guidance and support that our decades of experience in the region has to offer. 

Toby Simpson 
Managing Director Executive Search, EMEA 
Tel: +971 50 600 1105  
Email: [email protected] 

James Watfa 
Vice President Middle East, RPO 
Tel: +971 50 452 1819 
Email: [email protected] 

Toby Simpson

Managing Director, Executive Search EMEA, Hudson RPO

Toby is an executive search professional with long experience of executive and non-executive searches in investment banking, asset management and private equity; largely for portfolio companies across all sectors from agriculture to zoology.

Follow Hudson RPO on LinkedIn

What is RPO?

Learn More

What is MSP?

Learn More

Related articles

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