New generation of female entrepreneurs set to drive economic activity in UAE
- Date: 11-Dec-2022
- Source: Zawya
- Sector:Financial Services
- Country:UAE
New generation of female entrepreneurs set to drive economic activity in UAE
- Rising women empowerment in the UAE
- 47.5% of SMEs are owned by women
- 20% contribution to the UAE GDP
- Women make up 20% of the workforce
- 68% upsurge in women-owned businesses
Dubai – Women entrepreneurship in the UAE will gain further momentum and contribute a significant boost to gross domestic product (GDP) as more female investors have shown interest in setting up their business in the country, according to a business consultancy.
Business Link, a leading business consultancy with operations in the UAE and KSA, said 47.5% of small and medium enterprises (SMEs) in the emirate are owned by women and they make up 20% of the workforce. Women contribute about 20% to the country’s GDP annually and this share may increase to 25% in coming years, it said.
Referring to latest data from LinkedIn, the business consultancy said that female entrepreneurship in the UAE surged by 68% as the pandemic advanced.
Hatem El Safty, CEO of Business Link, stated: “Since post-pandemic, we have observed more women, both local and foreigners coming forward to establish their own business setup in Dubai, specifically. The UAE’s economy is a perfect landscape for women to launch their businesses due to the increasing government support and incentives,