The city of Dubai has continuously expanded and has become one of the largest economies in the United Arab Emirates. The city offers great investment opportunities for national and international business investors. The city attracts a large number of merchants due to the many free zones located throughout the city, which offer profitable incentives for businesses. Currently, there are more than twenty free zones throughout the UAE, and more than three of them are established in Dubai. They offer various advantages in the region, allowing investors to choose from a variety of options depending on their requirements.
The economic environment
The city of Dubai is located in the Middle Eastern part of the United Arab Emirates. The city’s economy is open to a high level of per capita income. In addition, the city has a dual financial center, commanding the superiority of the economy in the United Arab Emirates. There are endless opportunities for international business in addition to establishing a business relationship with large and small trading companies.
Doing business in Dubai
International investors are eligible to carry out different activities in Dubai. However, they can start their business only after registering with the local authorities. Generally, all international investors can start a company or business anywhere in the city. Companies that are interested in trading in the city only need to hire a legal commercial agent.
Current scenario of the different business sectors
Below are some business sectors that are flourishing in Dubai:
1. Airline industry – Dubai’s airline industry is thriving globally with excellent standards of service, efficiency and technological advances. The aviation industry has seen impressive growth in just a few years. Dubai has an excellent aviation infrastructure and perfect travel facilities that are recognized worldwide. The demand for air transport has been steadily increasing. The airports handle around 100 million passengers.
2. Tourism sector – Dubai is known as the most expensive and exciting vacation destination. Dubai has the tallest skyscraper in the world (BURJ KHALIFA), the only seven-star hotel in the world (BURJ AL ARAB) and the largest indoor snow park (SKI DUBAI). The city offers tourists value and opulence and, due to its strategic location, is a perfect venue for international conferences. There are all kinds of world-class facilities such as hotel accommodation, transportation, and business establishments. Dubai has continued to evolve and advance to become a very lively destination with diverse and quality tourism. In fact, it is the ideal place for all types of travelers. Dubai is now a global hub and best suited for both business and leisure activities.
3. Printing industry- The printing industry in Dubai plays an important role in the economy of the United Arab Emirates and has been awarded sixth place for its contribution to the GDP of the country. The printing industry has been in demand since the 1990s and has increased by about 10 percent each year. Sharjah has become the center of the printing industry and there are huge printing jobs. The printers’ products and solutions are offered at very low prices, making the city an efficient outsourcing hub. The printing house in Sharjah offers a wide range of printing services like digital printing, newspaper printing, screen printing etc.
4. IT industry – There are several companies in Dubai dealing in the IT sector. These companies offer valuable products and services such as software development, web design, web hosting, mobile development, and cloud services, etc. The scope of the IT industry is increasing every day and there are many job opportunities in this sector. The IT industry in Dubai attracts expats from all over the world. Also, many international IT companies are setting up their headquarters in the city.