UAE leads inaugural Fortune 500 Arabia List of Top 100 Companies

Fortune Arabia has made a significant entry into the regional business landscape with the launch of the first-ever Fortune 500 Arabia list, ranking the 500 largest corporations in the Arab region based on their annual revenues. This groundbreaking list marks a momentous occasion, emerging seven decades after the global Fortune 500 list’s inception, setting new standards for transparency, integrity, and market influence.

The methodology employed for Fortune 500 Arabia is rigorous, relying solely on reported and verified revenues. The combined revenues of these companies for the year 2022 reached a staggering 1.6 trillion US dollars, with net profits standing at a noteworthy 343 billion US dollars. This data reflects a period when companies were recovering from the pandemic’s impact, only to face the challenges of the Russian-Ukraine war, global inflation, and rising interest rates.

The list reveals that the United Arab Emirates (UAE) serves as the headquarters for 87 Fortune 500 Arabia companies, accounting for approximately 17% of the list. These UAE companies generated a substantial revenue of USD 254.87 billion in 2022. Saudi Arabia takes the lead with 153 companies, contributing a remarkable USD 813.33 billion.

Notably, UAE companies also lead in terms of employee numbers, employing 681,390 individuals across 87 companies, surpassing Saudi companies’ workforce of 548,625. This demonstrates the UAE’s prominent position in terms of the workforce, ranking second in terms of company numbers after Saudi Arabia.

Moreover, Fortune 500 Arabia showcases the significant presence of female leaders. UAE female leaders represent 20% of the female leadership on the list, matched by Moroccan female leaders. Saudi Arabian and Kuwaiti female leaders each comprise 6.7%.

The list also recognizes 15 women CEOs, with Emirati Hana Al Rostamani, CEO of First Abu Dhabi Bank (FAB), securing the 20th position. FAB achieved revenues of USD 11.23 billion and a net profit of USD 3.65 billion in 2022.

The Fortune 500 Arabia list further underscores the region’s role on the global business stage, providing an essential resource for decision-makers and serving as a barometer of economic success and influence. This list highlights the remarkable contributions of Arab companies, offering valuable insights into the dynamic and growing business landscape of the region.

Fortune 500 Arabia list is published by Fortune Arabia, a subsidiary of Majarra, licensed by Fortune Global. The full list can be accessed on their website: https://fortunearabia.com/fortune500arabia

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