Dubai is an incredibly developing city in the United Arab Emirates, geographically located between Asian and European markets. The government is transforming the city into the smartest city in the world using modern technology and innovations. The commercial transparency and ease of doing business aids the setup of small and medium enterprises, and even major global conglomerates.

The economy of Dubai is no longer reliant on oil but is rather diversified into trade, tourism, finance and services sectors. Most businesses are set up in the Free Trade Zones which are structured to attract foreign investment through the ease of setup, 100% ownership, tax exemption, no trade barriers, etc.

The economy of Dubai is open to attract investors. The government has constructed one of the best infrastructures of business facilitation. It also invests heavily in transport, telecommunications, energy, modern real estates and housing facilities.

There are investment opportunities in the following key sectors.

Logistics & Transportation

Dubai is strategically located as a central hub between the East and West. An investment in trade, logistics and e-commerce thrive well in the region. Thousands of distributions occur daily through world-class aviation and seaports infrastructure in Dubai.

Aviation Industry

Aviation accounted for 15% of the UAE’s GDP in 2018. According to the Airports Council International, the Al Maktoum International Airport comes 19th internationally in terms of the volume of freight handled, and can accommodate millions of passengers who pass through connecting flights. Dubai International Airport also ranked in the Best Airport Operator of the year category, transporting millions of cargoes every year. Dubai is one of the world’s leading centres of aviation and re-exporting hubs in the world.

Travel and Tourism

The travel sector in Dubai is also booming and investment in this sector will pay. According to the World Travel & Tourism Council, the industry contributed 11.1% ($44.8 billion) to the economy of UAE in 2018. It is projected to about 312.4 billion to the UAE’s GDP by 2027. Travels and tourism in Dubai contribute the highest share to the GDP of the UAE, amongst the Gulf Cooperation Council states.  Crenov8 Consulting has a lot of commercial incentive packages that attract investors looking to expand in the tourism sector.

Real Estate

About 85% of people living in the UAE are expats. Other than visitors for vacations or healthcare, millions are attracted to trade and have set up businesses in the UAE. Therefore, an investment in the real estate sector is a safe bet. The UAE is developing at ultra-high speed and is regarded as the most suitable for real estate investments in the Middle East and Africa. In preparation for the EXPO 2020, billions have been sunk into infrastructural projects in Dubai. The Dubai 3D Printing Strategy estimates that by 2030, about 25%of all buildings in Dubai will be 3D printed.

Technology & Finance

The UAE is the centre for information and communications technology of the Middle East. Work is ongoing to make Dubai the world’s smartest city by 2021. The Smart City strategy was launched in 2014 as one of the most ambitious ICT projects in the world. Government services such as facilitating importation to the UAE, transportation services, business setup, and over 1000 government primary services are now accessible online. As a result, the digital sector is booming and yields a high return on investments. Life is easier and businesses operate seamlessly.

Agriculture

The UAE has tremendously developed in recent times, as it gears towards attaining the smartest city in the world by 2021. It has transitioned from a trade hub to a business location that is headquarters to several multinationals due to the ease of doing business. The 40 free trade zones encourage companies to easily set up businesses with low or zero tax implications and full ownership in the UAE. Hosting EXPO 2020 also provides an opportunity to attract more international investors.

Crenov8 Consulting is a management consulting firm based in Dubai, UAE that helps businesses easily set up in the UAE. Some of our services include branding, business setup, event management, management consultancy, procurement, corporate training and other digital services.