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UAE Tops The Region, Leading Arab Nations In Attracting Over $22 Billion In Automotive Investments For 2024

by THEFUTURE.TEAM

January 20, 2025

The UAE has firmly positioned itself as the leading destination for foreign automotive investments in the Arab world for 2024. In a remarkable display of growth and attractiveness, the UAE, alongside Saudi Arabia, Morocco, Algeria, and Egypt, collectively brought in 145 foreign projects worth an impressive $22 billion. These nations now account for 79 percent of the region’s total foreign automotive investments, according to the Arab Investment and Export Credit Guarantee Corporation (Dhaman).

This surge in investments is set to create more than 91,000 jobs, representing 89 percent of all employment generated by foreign automotive ventures in the Arab world. Of note, China emerges as the largest investor, contributing 27 projects valued at $8 billion, which will add around 20,000 jobs to the region’s economy.

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UAE Solidifies Its Dominance In The Automotive Sector

The UAE’s leadership in the automotive industry is reinforced by its status as the most appealing hub for automotive business and investment in the region. The country’s progressive policies, competitive landscape, and strategic position in the global economy continue to attract investors and businesses, making it the preferred destination for automotive activity in the Middle East.

Investments And Job Creation Power The Growth

With significant foreign investments pouring into the sector, the UAE’s role as a central player in the automotive industry is only growing. These investments are bolstering the UAE’s economy while creating thousands of jobs, with the country’s share of the region’s foreign direct investments (FDIs) standing at 45.4 percent in 2023.

Surge In Automotive Sales Expected

By the end of 2024, total vehicle sales in the Arab world are projected to surpass 1.8 million cars, marking a 4.5 percent rise from the previous year. Saudi Arabia continues to dominate the region, holding a substantial 45 percent share of the market.

UAE’s Role As A Global Investment Magnet

The UAE remains a global magnet for foreign investments, not only in the automotive sector but across industries. In 2023, the UAE attracted AED248.3 billion in FDIs, accounting for a staggering 35 percent of all investments in the Arab region. This growth is largely due to the country’s investor-friendly policies, robust infrastructure, and attractive business environment.

The UAE’s success is also reflected in its FDI inflows, which grew by 35 percent in 2023, reaching AED112.6 billion. The country’s decision to amend its Commercial Companies Law—enabling full foreign ownership—has further enhanced its investment climate, with over 275,000 new companies launched in just over a year and a half.

Furthermore, the UAE ranks second globally in terms of greenfield FDI projects for 2023, following the United States, further cementing its position as a global business hub and a vital player in the automotive and other key sectors.

This influx of foreign investment in the UAE highlights not only the country’s economic strength but also its strategic importance in driving growth and innovation across the region.

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Cyprus’ Strong Youth Employment Rate Still Does Not Guarantee Early Independence

by THEFUTURE.TEAM

September 16, 2026

Young people in Cyprus have a relatively high employment rate, but they leave the parental home later than the EU average, according to Eurostat data.

Cypriots left home at an average age of 27 in 2025, compared with 26.3 years across the EU. At the same time, 72.3% of people aged 20 to 29 in Cyprus were employed, well above the EU average of 65.5%.

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Strong Employment Does Not Mean Early Independence

Only nine countries recorded higher youth employment rates than Cyprus. Iceland led at 85.3%, followed by the Netherlands at 84%, Malta at 82.1%, Switzerland at 78.3% and Germany at 77%.

Norway recorded 76.5%, Ireland 76.1%, Denmark 74.8% and Austria 74.6%. Eurostat said countries where young people leave home earlier generally tend to have higher youth employment rates.

Southern Europe Sees Later Moves

Finland had the lowest average age for leaving the parental home at 21.4 years, followed by Denmark at 21.8 and Estonia and Lithuania at 22.7. Croatia recorded the highest average at 31.5 years, followed by Greece and Slovakia at 30.9. Spain and Italy both stood at 30.2 years.

Across the EU, the average has remained close to 26 since 2002, rising only slightly from 26.2 years in 2024 to 26.3 years in 2025.

Cyprus Labour Market Is Cooling

The figures come as Cyprus’ labor market shows some signs of easing, although demand for workers remains relatively strong by European standards.

Separate Eurostat data showed Cyprus had the EU’s largest annual decline in its job vacancy rate in the second quarter of 2026. The rate fell to 2.6% from 3.3% a year earlier, but remained above the EU average of 2.0% and the euro area average of 2.1%.

Cost Of Living Remains A Factor

Housing and other living costs can also affect how quickly young workers establish independent households. Eurostat reported that Cyprus’ household consumption price level was 89.2% of the EU average in 2025.

A relatively lower overall price level does not eliminate affordability pressures for people on modest incomes. For younger workers, the issue can be whether wages are sufficient to cover rent, utilities, food and other basic expenses.

Cyprus therefore combines relatively high youth employment with a later transition to independent living, suggesting that access to work and the ability to afford a separate household do not always move together.