The country’s growing investment for creating job opportunities across several domains is the appealing factor that is attracting the young talent into investments

More and more Gen Z and millennial investors in the UAE are showing a preference for robo-advisors amid the positive outlook for the country’s economy, a market expert said.

The country’s growing investment for creating job opportunities across several domains is the appealing factor that is attracting the young talent into investments, Bas Kooijman, CEO and Asset Manager of DHF Capital S.A., said.

The UAE’s GDP is forecasted to grow by 4.2 percent this year and 5.2 percent in 2025, after achieving an estimated more than 3 percent growth in 2023.

UAE led the charge in job creation across the Gulf region during Q1 2024

Kooijman’s comments come amid projections about the number of users in the UAE’s robo-advisors market reaching over 23 million by 2028.

He said according to recent findings, approximately 66 percent of international investors under age 30 now lean towards digital platforms.

Recently released data showed that UAE led the charge in job creation across the Gulf region during Q1 2024, with an 8 percent rise in new jobs compared to last quarter of 2023.

Kooijman said a 103 percent jump in new investor accounts opened on the Dubai Financial Market was registered over the first three months of this year, further cementing the country’s position as an attractive investment destination.

“As the GCC continues to diversify via digital transformation and sustainable development, the UAE’s job market will play a key role in attracting younger demographics, particularly Gen Z and millenials who are exhibiting great interest in technology,” he said.

“While the integration of AI and machine learning technologies has further expedited this transition, tech-savvy millennials also prefer digital platforms for financial services due to cost and convenience,” he said.

Source: Arabian Business