The city of Dubai is constantly growing and has become one of the largest economies in the United Arab Emirates. The city offers great investment opportunities for both local and international business investors. The city attracts a large number of traders due to the many free zones located throughout the city, offering profitable incentives for business. There are currently more than twenty free zones throughout the UAE, and more than three have been established in Dubai. They offer a variety of benefits 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 East of the United Arab Emirates. The city’s economy is open to an increased level of per capita income. In addition, the city has a dual financial center that commands the supremacy of the UAE economy. There are endless opportunities for international business, in addition to establishing trade relations with large and small trading companies.
Doing business in Dubai
International investors have the right to carry out various activities in Dubai. However, they can start their own business only after registering with the local authorities. Usually, all international investors can start a business or business in any part of the city. Companies that are interested in trading in the city just need to hire a legal sales agent.
Current scenario of different business sectors
Below are a few business sectors that thrive in Dubai-
1. Aviation industry – The Dubai Airlines is thriving worldwide and boasts great standards of service, efficiency and technological advancement. The aviation industry has seen impressive growth in just a few years. Dubai has an excellent aviation infrastructure and seamless travel facilities that are world-renowned. The demand for air transport is constantly growing. Airports serve about 100 million passengers.
2. Tourism sector – Dubai is known as the most expensive and exciting holiday 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 both value and wealth and due to its strategic location is the ideal place for international conferences. There are all kinds of world-class facilities, such as accommodation in hotels, transport and commercial sites. Dubai continues to develop and thrive, becoming a very lively destination with diverse and high quality tourism. In fact, it is the perfect place for any type of traveler. Dubai is now a global hub and is best suited for business as well as leisure.
3. Polygraphy – Dubai’s printing industry plays an important role in the UAE economy and has been ranked 6th for its contribution to the country’s GDP. The printing industry has been in demand since the 1990s and has grown by about 10 percent each year. Sharjah has become a hub for the printing industry and has huge printing jobs. The products and solutions of the printing companies are offered at very low prices, which makes the city an effective outsourcing center. The printing press in Sharjah offers a wide range of printing services such as digital printing, newspapers, silk screen and more.
4. IT industry – There are several IT companies in Dubai. These companies offer valuable products and services such as software development, web design, web hosting, mobile development and cloud services and more. The scope of the IT industry is growing every day and there are many job opportunities in this sector. Dubai’s IT industry attracts immigrants from all over the world. In addition, many international IT companies are setting up headquarters in the city.