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GCC Q1 IPO Activity by Country (2019-2024)
The Q1 IPO activity from 2019 to 2023 in the GCC region demonstrates a clear upward trend in both proceeds and the number of IPOs. KSA and UAE are the primary drivers of this growth, with significant market engagement and investor confidence. The surge in Q1 2022 highlights a pivotal moment for IPO activity, while Q1 2023 maintains strong performance despite a slight decline.
The early data for Q1 2024 suggests continued dominance by KSA and UAE in the IPO market, compared to Bahrain, Qatar, Oman, and Kuwait with minimal IPO activity.
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Dubai’s Digital Economy and Its Expanding Startup Ecosystem
Dubai’s startup ecosystem will have raised over USD 2 billion by the end of 2022, with self-employed and digital economy roles tripling. Few MENA markets have a 20-year-old startup ecosystem birthing multiple unicorns. Dubai has been the digital startup hub for tech giants and new unicorns alike. Since 2017, Dubai has raised 96% of UAE’s funds, totaling over USD 2 billion by October 2022. LinkedIn data shows a booming digital economy job market with increasing opportunities and remote work options. Learn from top home-grown startups and global transplants why Dubai is poised to become the next digital economy capital of the world.
