The UAE remains a dynamic hub for Austrian businesses, as reflected in the latest Global Business Barometer findings.
Economic Climate:
- Over the past 12 months, 30% of participants observed deterioration in the general economic climate, while 26% saw improvement.
- For the next 12 months, 22% expect improvement in the general climate, but a majority predict stagnation or slight deterioration.
Performance Indicators:
- Business metrics like turnover, workforce size, and investment remained stable for most companies, though some reported decreases in capacity utilization and orders.
Key Challenges:
- Issues such as bureaucracy, labor costs, and the availability of a skilled workforce were highlighted.
- Respondents also raised concerns about geopolitical risks, including the Russia-Ukraine war and global trade protectionism.
Sustainability and AI:
- Sustainability is becoming increasingly important, both within companies and in the UAE market.
- The development and adoption of AI technologies are projected to increase over the coming year.
Retention and Motivation:
- Companies focus on flexible working hours, training programs, performance bonuses, and wellness initiatives to retain employees.
Revenue and Business Models:
- Respondents include businesses with varying revenue ranges and operational models, such as sales offices and production facilities.
Market Support:
- Participants noted the importance of engaging with local policymakers, chambers of commerce, and Advantage Austria to navigate market challenges effectively.
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