93% of average companies in the UAE expect double growth rates for 2023

Shaker Zuraiqi: “It is interesting to see that almost half of the respondents (48%) in the UAE cite sustainability as a main business driver.”

The results of the survey, conducted by HSBC Bank, on 1,700 medium-sized companies (MMEs) around the world, which are companies with revenues ranging between 10 million and 500 million US dollars, showed their intention to achieve growth in 2023 by 77% in 14 markets, what It means expecting revenue growth for the year of 10% or more.

Confidence among these international companies to achieve growth doubled to the highest levels among senior executives surveyed in the UAE (93%), India (88%), Mexico (86%), Australia (84%) and Indonesia (80%). ).

When asked about their most important and urgent priorities, respondents in the UAE cited customer experience (69%), upskilling their workforce (68%), and increasing vigilance in cybersecurity (63%) as the top three investment priorities for 2023.

Shaker Zuraiqi, Head of Global Trade Finance and Receivables Services at HSBC UAE, said: “It is also interesting to see that nearly half (48%) of respondents in the UAE cite sustainability as a key business driver.

With the UAE hosting the COP28 climate conference in December, we expect the focus to be on sustainability as an even stronger and more impactful business catalyst.”

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