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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.

The Decline Of Smartwatches: A Turning Point In The Wearable Tech Industry

by THEFUTURE.TEAM

March 13, 2025

For the first time in history, the smartwatch market is facing a significant downturn. Shipments are expected to drop by 7% in 2024, marking a major shift in a segment that has been growing steadily for over a decade. A report by Counterpoint reveals that while Apple still holds the top spot, its dominance is being challenged by a surge from Chinese brands like Huawei, Xiaomi, and BBK. Even as the overall market struggles, some companies are thriving.

The Big Picture: Why Smartwatches Are Slowing Down

Apple’s flagship products have long been the driving force in the smartwatch market, but even the tech giant is feeling the pressure. The company’s shipments are projected to fall by 19% this year, though it will remain the market leader. Meanwhile, brands from China are capitalizing on the shift, with Huawei showing an impressive 35% growth in sales, driven by the booming domestic market and a broad range of offerings, including smartwatches for kids.

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Xiaomi, too, is experiencing remarkable success, with a staggering 135% increase in sales. In contrast, Samsung is seeing more modest growth, up 3%, thanks to its latest Galaxy Watch 7 and Galaxy Watch Ultra series.

While some companies are succeeding, the broader market is facing headwinds. The biggest factor behind the overall decline is the slowdown in India, where consumer demand for smartwatches has stagnated. The segment is suffering from a lack of innovation and fresh updates, leaving many consumers with little incentive to upgrade their devices. Add to that market saturation, and it’s clear why many users are content with their current models. The Chinese market, however, is bucking the trend, showing 6% growth in 2024.

A Glimpse Into The Future

Looking ahead, the smartwatch market may begin to recover in 2025, driven by the increasing integration of AI and advanced health monitoring tools. As these technologies evolve, the industry could see a resurgence in demand.

Huawei’s Remarkable Comeback

Huawei’s impressive performance in the smartwatch space signals a broader recovery for the company, which has been hit hard by US sanctions. Once the world’s largest smartphone maker, Huawei’s business was decimated when it lost access to advanced chips and Google’s Android operating system in 2019. But in China, Huawei has maintained its dominance, with its market share growing to 17% in 2024.

This resurgence was partly driven by the launch of the Mate 60 Pro, a smartphone featuring a 7-nanometer chip developed in China. Despite US sanctions, the device surprised many with its capabilities, a testament to China’s rising investment in domestic semiconductor production.

In February, Huawei also unveiled its Mate XT foldable smartphone, the world’s first device to fold in three directions. Running on HarmonyOS 4.2, Huawei’s proprietary operating system, the phone further demonstrates the company’s resilience and ability to innovate despite international challenges.

Huawei’s smartwatch offerings are also catching attention, particularly the Huawei Watch GT 5 Pro, which launched in September of last year. With a premium titanium alloy design, a high-resolution AMOLED display, and impressive health tracking features, the GT 5 Pro has become a standout in the market, available to both Android and iOS users.

A Brief History Of The Smartwatch Revolution

The smartwatch market has had its fair share of milestones, but the real breakthrough came in 2012 with the Pebble, a Kickstarter-funded project that raised over $10 million. Pebble introduced the world to smartphone integration, app downloads, and long battery life, becoming the first truly mass-market smartwatch.

In 2013, Samsung entered the game with the Galaxy Gear, marking its first attempt at wearable tech. But it was Apple’s entry in 2014 that truly set the industry on fire. The Apple Watch’s sleek design, integration with iOS, and emphasis on health and fitness catapulted it to the top of the market, establishing a standard that many other brands would try to follow.

By 2021, the smartwatch industry had grown to over $30 billion in revenue, with annual growth reaching 20%. Yet now, it finds itself at a crossroads, with innovation stagnating and market saturation taking a toll.