INFOGRAPHIC

Source : CEO Outlook 2022 : United Arab Emirates by KPMG

Thanks to the country ’ s leadership that has had the foresight to promote and invest in strategic areas such as infrastructure , digitisation and the circular economy , it ’ s little wonder Dubai is ranked as the world ’ s premier hub for foreign direct investment .

Local CEOs are forging ahead with bold visions . They are cementing strategies to combat inflation pressures and defend against cyberattacks , and are embracing sustainability reporting . This is what we learned speaking to 1,325 CEOs worldwide across 11 markets for this year ’ s CEO Outlook report . As CEOs around the world said they were getting ready to implement a number of resiliency strategies over the next 6 months , most CEOs in the UAE already had their strategies in place .

But that does not mean that this budget cycle will be without challenges . Local business leaders are facing inflation pressures , ESG difficulties and increased risk of cyberattacks . And as the world learns to live with Covid-19 , the survey revealed that CEOs and their employees might have different ideas about returning to the office full-time .

Almost every CEO surveyed in the UAE , 96 % reported having an aggressive digital strategy in place , much higher than the worldwide rate of 72 %. UAE leaders appear to be increasingly technologically ambitious ; last year ’ s figure stood at a much lower 64 %. More than 80 % of local CEOs thought that driving digital transformation at a rapid pace was critical to competing for talent and customers .

The UAE is one of the world ’ s most technologically advanced countries , with the digital economy contributing 4.3 % to GDP , and more growth on the horizon . The government has bolstered digital capabilities by improving IT infrastructure , increasing the speed of internet services , and promoting the use of smartphones and electronic payment systems .

CEOs around the world viewed geopolitical uncertainty as a reason to worry about cyberattacks within their organisations . In the UAE , 92 % of respondents said their organisations were wellprepared for a cyberattack , compared to 56 % of global CEOs .

Again , it is evident that local CEOs appear to have shored up their digital defences – in 2021 , only 56 % said they were ready for a cyberattack .

UAE business leaders were also concerned about protecting their partners and suppliers , with more than 90 % reporting that protecting their supply chains from cyberattacks was just as important as building their own organisation ’ s cyber defences . That figure was 76 % worldwide . Attitudes have clearly shifted locally – the UAE figure in 2021 was also 76 %, representing a year-on-year increase of 14 %. p

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