The city of Dubai has been continuously expanding and has become one of the biggest economies in the United Arab of Emirates. The city offers large investment opportunities for domestic as well as international business investors. The city attracts a large number of traders due to numerous free zones located throughout the city, offering profitable incentives for businesses. Currently, there are more than twenty free zones in whole UAE, and more than three of them are established in Dubai. They offer diverse advantages in the region, allowing investors to choose from a variety of options depending upon their requirement.
The Economic Environment
The city of Dubai is situated in the Middle Eastern part of the United Arab Emirates. The economy of the city is open to an elevated level of per capita revenue. Furthermore, the city has a dual financial center, commanding the superiority of economy in UAE. There are endless opportunities for international businesses apart from establish a trading relationship with big and small commercial companies.
Conducting business in the Dubai
The International investors are eligible to carry out different activities in Dubai. However, they can start their business only after registering with the local authorities. Typically, all international investors can start up a venture or business in any part of the city. The companies that are interested in trade in the city just need to hire a legal, commercial agent.
Current Scenario of different business sectors
Below are few business sectors that are flourishing in Dubai-
1. Airline industry – Dubai’s airline industry is thriving globally and boasts great standards of service, efficiency, and technological advancements. The aviation industry has recorded an impressive growth in just a few years. Dubai has an excellent aviation infrastructure and seamless travel facilities that are globally recognized. The demand for air transport has been rising consistently. The airports handle about 100 million passengers.
2. Tourism sector – Dubai is known as the most expensive and thrilling holiday destination. Dubai has the world’s tallest skyscraper (BURJ KHALIFA), the world’s only seven-star hotel (BURJ AL ARAB) and the largest indoor snow park (SKI DUBAI). The city offers tourists both value and opulence and due to its strategic location it is a perfect spot for international conferences. There are all types of world standard facilities such as hotel accommodations, transportation, and commercial establishments. Dubai has continued to evolve and advance becoming a very lively destination with diverse and high-quality tourism. In fact, it is the ideal place for every type of traveler. Dubai is now a global center and the most suitable for business pursuits as well as leisure.
3. Printing Industry – The printing industry in Dubai plays an important role in the UAE’s economy and has been given the 6th rank for its GDP contribution of the country. The printing industry is in demand since the 1990s and has increased by about 10 percent every year. Sharjah has emerged as the hub for the printing industry, and there are huge printing jobs. The products and solutions of the printing companies are being offered at very low rates, making the city an effective outsourcing center. The printing press in Sharjah offers a wide range of printing services like digital printing, newspaper, silk screen, etc.
4. IT Industry – there are several companies in Dubai that deal in IT sector. These companies offers valued products and services such as software development, web designing, web hosting, mobile development, and cloud services, etc. The scope of IT industry is increasing every day, and there are many job opportunities in this sector. IT industry in Dubai attracts expats from all over the world. Moreover, many international IT companies are setting up their headquarters in the city.