ICC Arbitration Statistics 2024 – UAE Breaks into Top 5 Seats
The ICC has issued its Dispute Resolution 2024 Statistics Report, providing a detailed analysis of the arbitrations being referred to the ICC for resolution, and highlighting significant trends. The report details that the top five seats of arbitration were cities in these countries: United Kingdom (96 cases), France (91), Switzerland (83), United States (72), and the United Arab Emirates (38). This is the first time the United Arab Emirates has been listed in the top five seats, reflecting its growing importance as a hub for international arbitration in the Middle East.
Here are some other key statistics:
- In 2024 the ICC registered 841 arbitration cases.
- Cross-border disputes constituted 69% of the total caseload, reflecting the ICC's extensive global reach and its importance in international arbitration.
- The geographical diversity of parties involved is notable, with participants from 136 jurisdictions. The Middle East was particularly active, with 224 parties involved, representing 9% of the overall party population. The United Arab Emirates led the region with 73 parties, followed by Qatar with 51, Saudi Arabia with 28, and Oman with 20.
In terms of applicable laws, English law was the most frequently selected, appearing in 125 cases (15% of new cases). Other top choices included the laws of a US state (69 cases), Swiss law (60), Brazilian law (44), and French law (42). The laws of Mexico and Germany (35 cases each), Spain (34), Italy (27), the United Arab Emirates (22), and Qatar (21) were also among the most used applicable laws, indicating a preference for these jurisdictions in resolving disputes.
The nature of disputes in 2024 spanned a wide array of sectors, with construction/engineering and energy sectors leading the way, representing 44% of all new cases. Specifically, construction/engineering disputes accounted for 193 cases (23.2%), while energy disputes comprised 170 cases (20.5%). Other significant sectors included transportation (6.3%), financing and insurance (5.8%), telecoms and specialised technologies (5.8%), and health/pharmaceuticals and cosmetics (4.8%).
Overall, the ICC Dispute Resolution 2024 Statistics report underscores the institution's global influence and adaptability in handling cross-border disputes. With significant involvement from the Middle East and a diverse range of sectors, the ICC continues to be a cornerstone in facilitating international trade and investment by providing effective dispute resolution services across diverse jurisdictions.
"Since its establishment in 1923, the ICC International Court of Arbitration (“ICC Court”) has administered more than 29,000 cases, involving parties from all over the world, and disputes spanning a wide range of sectors and sizes."
