Why Dubai for Business?
Why Dubai for Business?
For the past years, Dubai market has evolved a lot, in terms of its competence to be involved in the various commercial segments in the UAE, despite of certain levels of economic challenges.
Be it trading, import, export, tourism, event management, financial and business services, construction, realty, tourism, and so on, Dubai stood still to implicate its economic might in the international scene.
Considered to be the hub of one of the largest volume of expats today, (Asian, European, Middle Eastern, African), UAE has still much to offer that is why it is considered to be the most diversified economy in the GCC. UAE has the second-largest economy in the Arab world (after Saudi Arabia) and considered to be one of the most open worldwide.
The following are just few of the privileges of Dubai residents:
- Strategic Location
- No Taxation
- Safety and Security
- Visa Privileges
- Multi-national Companies
- Living Standards
- Employment Rate
- Massive Scale of Infrastructures
The Statusquo and World Recognitions
- Due to the diversified nature of Dubai’s economy, the emirate has actually stood up to record 3.7 per cent growth up from 3.6 per cent last year – far exceeding the average GCC growth forecast at 1.8 per cent for 2016.
- Because of its booming trade and tourism, Dubai was announced to be the top five fastest growing cities in the world, according to a survey conducted to 300 cities by a leading American think tank last 2015.
- Apart from that, Dubai was likewise awarded to be the fifth-highest performing metropolitan economy in the world last 2014. As quoted by the Brookings Institution, “An uptick in trade and tourism positively impacted the emirate’s employment and GDP per capita during the period”.
- According to Dubai Economic Development dated 5th October 2016, the United Arab Emirates has become the first Arab country to sign the Trade Facilitation Agreement under its existing membership in the World Trade Organization, and in June, concluded its third WTO trade policy review. During the review, WTO members praised the UAE for “the successful diversification of the economy which has helped the UAE weather first, the financial crises that started in 2008, and then the fall in oil prices that started in 2014.” Looking ahead, continued success in diversification and achieving the UAE and Dubai 2021 Visions require harnessing the forces shaping global trade and investment flows.
World Expo 2020 – A promising start.
Not to mention the upcoming World Expo 2020, Dubai will host the said event bringing together 25 million visitors. Absolutely, it will be one of the greatest shows on Earth. Following the three themes which include mobility, opportunity, and sustainability, Dubai will ultimately bring in the most assuring future of corporate prowess.
As stated from the words from Expo2020 Dubai, “Each World Expo carries a central theme of “universal concern to all of humanity”. Expo 2020 Dubai’s theme is ‘Connecting Minds, Creating the Future’. It recognises that generating sustainable solutions to global problems demands collaboration across cultures, nations and regions. It is a reflection of the modern world: connected as never before, and changing with great speed. Today, the world’s biggest accommodation provider owns no hotels. The largest software providers do not write the apps they sell. The number one retailer stocks no products and the most popular media organisation in the world creates no content. These companies have each recognised the value of sharing and collaboration, made possible by new technology. They empower people to say and do things differently; to connect with others, and to create something new. This what Expo 2020, its participants and visitors will explore. How, by connecting, collaborating and forming new partnerships, can we develop ideas and innovate in order to create a better future? This is our theme: Connecting Minds, Creating the Future”.
With the above points raised, Dubai is absolutely recognized as the cosmopolitan city of diversity where entrepreneurs both neophyte and experienced, go to for a destination of comfort and convenience, to both trade and tourism sectors alike.
Start your business in Dubai for a rewarding economic atmosphere.
