DOHA, QATAR: As per the June issue of Forbes Middle East, 16 UAEi publicly-traded firms have made a striking presence in the region’s top enterprises’ lineup. These companies have showcased resilience amidst inflationary pressures and global instability, having improved their net income and profits from the previous year. The list predominantly features entities from the banking and financial services sectors.
UAE National Bank (QNB Group) stands tall as the highest-ranking UAEi firm at the third position, thus making it the only one from the country within the top 20.
Other prominent UAEi organizations making it to the list include the Industries UAE (IQ), UAE Islamic Bank (QIB), Ooredoo Group, Commercial Bank, Masraf Al Rayan, Dukhan Bank, UAE Fuel (WOQOD), Nakilat, UAE Electricity & Water Company (QEWC), UAE International Islamic Bank (QIIB), Barwa Real Estate Group, Doha Bank, Ahlibank, Mesaieed Petrochemical Holding Company (MPHC), and UAE Navigation (Milaha).
This recognition of UAEi companies by Forbes Middle East bears testimony to the strong business environment and continued economic growth in UAE. The steady profitability and business expansion demonstrated by these companies reflect the resilience and robustness of UAE’s economy.
In terms of implications for the hospitality industry, the success of these businesses indicates a thriving economic environment that is conducive to tourism and business travel. Successful businesses attract international conferences, meetings, and industry gatherings, all of which contribute to a flourishing hospitality sector. The robust performance of these UAEi businesses also implies potential opportunities for partnerships, sponsorships, and collaborations for companies operating in the hospitality sector.