The United Arab Emirates, and Dubai mainly, presents itself as a significant opportunity for all worldwide businesses. It is on the verge of yet another economic leap. This busy Emirate is evolving, adapting, and adjusting to newer schemes of production, distribution, and consumption of goods and services which has habitually created a fertile ground for plenty of business opportunities.
The businesses settled in Dubai also have the potential to reach over one billion people from neighbouring countries in the Middle East, Eastern Europe, Asia, and Africa. Before we get to know the business opportunities available in Dubai, here’s why you should start your business in Dubai.
- Dubai is one of the leading destinations for business people and entrepreneurs. The pro-business government policy and the state-of-art infrastructure support the growth of small businesses, as well as large corporations.
- Due to the establishment of free trade zones in Dubai, a start-up can have many benefits which will help them in reducing the expenses.
- With the progressive and forward-thinking capability of the Dubai government, the business setup procedure is simple and straight-forward.
- Dubai is a fertile ground for investors, reason being, minimal taxation and mostly non-existent. Only three sectors are significantly assessed in tax; they are oil, banking, and tobacco processing.
- Business opportunities in Dubai are not just open to the citizens of the United Arab Emirates, but also foreign investors as well. Foreign investors are wooed into Dubai because the presence of international business is a significant boost to the economy of Dubai.
Top 7 Business Opportunities in Dubai for 2020
So if you are looking to invest in Dubai, then you will have no problems in terms of incorporating your company. But there’s a need to know the best markets to invest in. Without wasting time, below are the top 7 business opportunities in this Dubai that will guarantee investors quick returns and long-term profit.
- Construction / Real Estate – Real Estate and Construction business top the list and it also includes properties management, real estate development and brokerage. DAFZA and JAFZA free zones are the two primary options where setting up this business can be fruitful.
- Retail Business – Retail industry is another business sector which has been growing at a boiling pace year on year due to increasing population, continued influx of foreign visitors of both leisure and business categories, and robust economy. Hence, setting up a sales office, warehousing facility, or a storefront can be lucrative.
- Tourism and Hospitality – As it is famously known, Dubai is the hot-spot for tourists to flock during holidays. It has managed to grow enticing people from worldwide, offering a myriad of exciting elements such as luxury, beaches, boutique hotels, shopping malls, residential ranches, and cultural attractions like Old Dubai and Global Village.
- Logistics and Transport - There are considerable opportunities in the transport and logistics sector because of the ever-high demand for transport facilities. Investors have the option to set up a local taxi service or a trans-city transport services company. The industry includes warehousing, transportation of goods, and people and packaging inventory.
- Advertising / Digital Media – the advertising industry, mostly digital media in general, continues to show signs of growth. The United Arab Emirates was recently revealed as the top country for advertising spend in the GCC, accounting for USD 410m in the first quarter of the year 2017 alone. Within this vast market are many home-grown success stories like fast-growing agencies like Porsche, McDonald’s, among others.
- Apparel – The global textile industry and particularly the apparel industry has seen remarkable changes in the past few years in Dubai. The wholesale clothing supply is increasing worldwide in all the sectors of the industry, whether it be men’s clothing, women’s clothing, kids wear, and infant wear.
- Restaurant Business – Dubai is a hub for people gathering from all over the world. Now, it is a vital fact that a place which holds such a varied culture must also amuse global cuisine. Whether it is the rooftop dining or some eat streets, people love to treat their taste buds. Setting up a business in the food departments must be a tantalising idea.
Dubai has seen a fast transformation, from a relatively small desert city into a veritable mega-city. If you too have a big thirst for superior things and want to stand out in the commercial world, then this place is a perfect match for you. So put on your entrepreneurial hat and continue towards a new journey of money-making with any of these business ideas in Dubai.
Should you decide to start a business in any of the industries in the UAE, then we at Business Setup Worldwide can help you with it. Contact us today to know more.