UAE is the most preferred destination for innovators: Study

The UAE has become a preferred destination for talent, entrepreneurs and innovators from across the world, findings from a study by LinkedIn shows.
The number of LinkedIn members in the UAE who identify entrepreneurship as their job function nearly doubled in the past year, underscoring the Emirates' increasing profile as a thriving hub for entrepreneurs, the study carried out by the world's largest professional network on the Internet said.
The research found that the UAE is gaining the highest percentage of LinkedIn members identifying entrepreneurship as their job function from other countries within the Middle East.
Two previous studies by LinkedIn had also identified the UAE as the most attractive global destination for professionals from across the world, particularly from India, the UK, Pakistan, the US, and Qatar. A recent survey by business school Insead also ranked the UAE 23rd out of 103 countries for global talent competitiveness - compared with 22nd in 2014 - the highest score in the Middle East region.
The LinkedIn research is based on an analysis of UAE profiles created and completed between March 2015 and March 2016. It reveals that the number of LinkedIn members in the UAE who identify entrepreneurship as their job function recorded a year-on-year growth rate of 98.3 per cent.
"This increase was most pronounced in the professional services industry that covers a range of different occupations which provide support to businesses of all sizes and in all sectors, including services such as tax advice, accounting consultancy, or business consultancy. This was followed by the software sector, retail and consumer product sector," LinkedIn said in a report.
The study found that there has been an increase in the percentage of LinkedIn members in the UAE who have moved to work for smaller companies. The number of UAE members in LinkedIn who indicated that they worked for a company employing fewer than 200 employees has grown by a year-on-year growth rate of 10 per cent.  For example, the number of UAE LinkedIn members who state that they work for a professional services company employing fewer than 200 employees has increased by over 20 per cent compared with this point last year.
Ali Matar, head of LinkedIn Talent Solutions for Southern Europe, Middle East and North Africa, said the UAE has evolved to be a preferred destination for talent, entrepreneurs and innovators from across the world.
The country boasts of a fully-integrated environment that nurtures ideas generated by youth and aims to boost entrepreneurship through comprehensive support systems, said Matar.
"The study clearly confirms the country's status as a strong economy and an appealing working environment that is highly capable of competing on a global scale. The UAE's ambitions for supporting entrepreneurship perfectly resonate with our LinkedIn mission to connect the world's professionals to make them more productive and successful."
"Building an environment in which entrepreneurship can flourish is one of the key priorities within the UAE's wider innovation agenda," said Hussain Al Nowais, chairman of Khalifa Fund for Enterprise Development.  "Today this includes expanding access to information and modern digital tools, as well as fostering a culture of invention across the public and private sectors. This latest data from LinkedIn is further testament that the UAE is on the right track, and most importantly, that the public is welcoming such support with open arms."
"I believe we are seeing an increase in entrepreneurial ventures for a number of reasons," said Louise Karim, managing director at Mums@Work, a new initiative providing mums in the UAE the opportunity to return to the workplace in a flexible manner. "One major factor is the job market tightening, which in turn is pushing residents to explore setting up their own businesses. The booming use of social media in the region also allows entrepreneurs to quickly and cost-effectively launch a business. However, the cost of permits and legality in the region still needs to be reviewed as it can provide a number of financial barriers to setting up a business."
The LinkedIn report noted that an increasing number of UAE residents are becoming entrepreneurs, thanks - in large part - to the internet and new technology platforms.  
- issacjohn@khaleejtimes.com