According to WAM, the UAE has been recognized as the top destination in the Arab world for investment and business in the automotive sales sector for 2024, according to the Arab Investment and Export Credit Guarantee Corporation (Dhaman). This finding was part of Dhaman’s fourth sectoral report for 2024, which highlights the significant investment activity in the automotive industry across Arab nations.

In total, five Arab countries—Saudi Arabia, Morocco, the UAE, Algeria, and Egypt—successfully attracted 145 foreign projects, which account for 79% of the overall projects in the sector. These projects are valued at over US$22 billion, representing 89% of the total investment in the automotive field, as reported by the Kuwait News Agency (KUNA). Furthermore, these initiatives have created more than 91,000 jobs, contributing to 89% of the total employment in the industry.

Dhaman highlighted that China emerged as the leading investor in the Arab region, participating in 27 projects valued at USD 8 billion, which resulted in approximately 20,000 jobs. The Gulf countries, particularly the UAE, have established themselves as the most attractive locations for investment and business within the automotive sales sector, followed by Saudi Arabia, Qatar, Kuwait, Oman, and Bahrain.

Additionally, from January 2003 to October 2024, the automotive sector in Arab countries attracted 184 foreign projects with a combined value exceeding US$25 billion, leading to the creation of over 102,000 jobs. By the end of 2024, five countries—Saudi Arabia, the UAE, Algeria, Morocco, and Kuwait—are projected to account for around 75 percent of overall vehicle sales in the region.

In terms of individual car sales, projections indicate that they are likely to surpass 1.8 million units by the end of 2024, marking an increase of 4.5 percent from 2023. Saudi Arabia is expected to lead this growth, capturing a substantial 45 percent share of the market.