"Switzerland of the Middle East"—When Shark Tank's Kevin O'Leary analyzed Abu Dhabi’s economic potential

During an interview with The National News on December 21, 2021, Shark Tank investor Kevin O’Leary examined Abu Dhabi’s economic potential and its positioning within global markets.

When asked about job creation under an agile government, O’Leary explained that the region presents an opportunity beyond relocating jobs. He underscored Abu Dhabi's ability to serve as a central hub for business expansion, particularly in financial services. The Shark Tank investor stated,

“This place can be Switzerland of the Middle East it can be, and the Swiss have designed the most incredible financial services you know in the world and the most stable policy and the most stable government.”

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Shark Tank investor Kevin O’Leary's take on Abu Dhabi’s economic future and global positioning

Abu Dhabi’s economic growth and infrastructure

O’Leary noted the rapid transformation Abu Dhabi has undergone over the past few decades. He recalled a conversation with his stepfather, who worked on the region’s water infrastructure decades earlier. The Shark Tank investor shared,

“He told me I lived there 30 years ago with your mother. I said, what, in Abu Dhabi? He said, yeah, I worked on the water system.”

He added that during that time, there was minimal infrastructure in place, emphasizing the extent of development within a relatively short timeframe. He further highlighted the role of policy in this transformation, stating,

“The truth is about this place, this all happened in 25 years.”

According to O’Leary, Abu Dhabi’s development trajectory was driven by policy decisions that facilitated economic growth. He explained that while the region is often recognized for its 50-year history, its economic acceleration has been more recent.

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Financial services and regulatory environment

O’Leary pointed to the financial sector as a key area of opportunity for Abu Dhabi. He noted that global financial services are shifting toward borderless operations and emphasized the importance of regulatory clarity. The Shark Tank investor stated,

“If you tell me as a regulator that you’ll allow me to set up a Moroccan account, an Iraqi account, an Egyptian account here, that I can service and I can do it on a compliant basis and not go offside… Well, yes, I’m interested.”

He explained that investors seek transparent policies that outline permissible business activities. He added,

“You tell me which geographies I can do it in; you show me the policy… That’s the kind of question that investors like I have.”

The Shark Tank investor suggested that establishing clear guidelines for financial operations could enhance Abu Dhabi’s appeal as a financial hub.

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Abu Dhabi’s potential as a global business nexus

O’Leary discussed Abu Dhabi’s role in attracting businesses looking to expand in the region. He noted that financial growth in surrounding markets is outpacing that of North America, making the Middle East an attractive investment destination. He stated,

“The growth in these markets around here is geometrically larger than North American growth.”

He emphasized that companies are seeking strategic locations from which to tap into these expanding markets. The Shark Tank investor explained,

“The opportunity here is, do you make it the nexus for your business build-out in this region?”

According to O’Leary, businesses evaluating Abu Dhabi’s economic environment will consider its ability to function as a central hub for operations in the Middle East.

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