Dubai has grown continuously and has become one of the largest economies in the United Arab Emirates. The city offers great investment opportunities for local and international business investors. The city attracts a large number of merchants due to the many free zones located throughout the city, providing profitable incentives for companies. Currently, there are more than twenty free zones across the UAE, and more than three of them are located in Dubai. It offers various advantages in the region, allowing investors to choose from a variety of options depending on their needs.
The economic environment
Dubai is located in the Middle East region of the United Arab Emirates. The city’s economy is open to a high level of per capita income. Also, the city has a dual financial centre, which leads to the economic superiority of the United Arab Emirates. There are countless opportunities for international business outside of establishing a business relationship with large and small businesses.
Doing business in Dubai
International investors can do various activities in Dubai. However, they can only start their business after registering with the local authorities. As a general rule, all international investors can start a business or business in any part of the city. Companies interested in trading in the city need to hire a legal sales agent.
The current scenario for different business sectors
Here are some booming industries in Dubai.
1. Aviation Industry – Dubai’s aviation industry is thriving globally and has high standards of service, efficiency, and technological advancement. The aviation industry registered impressive growth in just a few years. Dubai has excellent aviation infrastructure and transparent travel facilities that are recognized all over the world. The demand for air transportation continued to increase. Airports handle nearly 100 million passengers.
2. Tourism sector – Dubai is known as the most expensive and exciting travel destination. Dubai has the tallest skyscraper in the world (Burj Khalifa) and is the only seven-star hotel in the world (Burj Al Arab) and the largest indoor snow park (Sky Dubai). The city offers value and luxury to tourists and because of its strategic location, it is an ideal place for international conferences. There are all kinds of world-class amenities like hotel accommodation, transportation and commercial establishments. Dubai has continued to develop and has become a busy destination with diverse and high-quality tourism. It is the ideal place for any kind of traveller. Dubai is now a world centre and most suitable for business as well as entertainment.
3. The printing industry – The printing industry in Dubai plays an important role in the economy of the United Arab Emirates and has ranked sixth for its contribution to the country’s GDP. The print industry has been in demand since the 1990s and has grown almost 10% each year. Sharjah has become the centre of the printing industry, and the printing business is huge. Printing Products and solutions are offered at extremely low prices, making the city an effective outsourcing hub. Sharjah Printing Company provides a wide range of printing services such as digital printing, newspapers, screen printing, etc.
4. Information Technology Industry – Many Dubai companies do business in the IT sector. These companies offer common products and services such as software development, web design, web hosting, mobile device development, cloud services, etc. The IT industry is growing every day and there are many job opportunities in this sector. Dubai’s computer industry attracts ex-pats from all over the world. Also, many international IT companies are based in the city.