The United Arab Emirates has become one of the most popular business hubs in the last two decades. Because this country is doing things very differently than the rest of the Middle East. The people of the UAE are relying very little on oil as they know that it will run out someday and instead of this, they are promoting other businesses in the country. The UAE is giving a lot of opportunities to traders and investors to prove their mettle and skills.
Dubai is known as an investment capital of the Middle East with business avenues and ventures. If you are interested in doing business in the UAE, you could not find a better place than Dubai, because this city is very famous for a welcoming environment for new entrepreneurs and businessmen. It offers you tax-friendly policies, top quality economical and social infrastructure, and an amazing central location for any of the successful businesses.
Here are some of the most profitable industries and business avenues that you can start in Dubai. Also, Rent a Car Dubai to roam around the city at your own pace.
1- Real Estate
Dubai is known as one of the top ex-pat hubs across the globe. Its 70% population consists of foreigners and about 16 million tourists visited it in the last year. Dubai has become the 4th most visited city in the world. This is the reason that making property marketing in Dubai is so lucrative. This industry is also famous for its impressive returns, and it offers you numerous opportunities to double your investments. The real estate market in Dubai has a huge scope in real estate development, property management, construction and housing sectors, and brokerage.
2- Import and Export
The import and export business in Dubai is one of the top businesses that lie in such a lucrative sector. Being a central location and economic diversity Dubai offers you an amazing start to an international trading business. This business can be rewarding in terms of profitability and expansion opportunities. You can set up your business in a free zone like DMCC that can facilitate you with huge business success along with enjoying 0% import and re-export duties. Moreover, this business may have advanced logistics and transportation infrastructure for your better well-being and to avoid any hurdles.
3- E-Commerce
By an estimate, the e-commerce market of Dubai is all set to reach 12 billion AED of local GDP in the year 2023. This makes Dubai the fastest growing e-commerce market in the Middle East. For the development of the e-commerce industry in Dubai trust in digital payments, increased security, and improved logistics are some of the common factors that are responsible. However, the adoption of smart government initiatives and programs also plays an important role in it. After setting up an e-commerce business in Dubai, you may get a load of shoppers to target and the best part about it is that you can run it from a remote location to get benefits from low taxation laws.
4- Healthcare
Due to the present condition of deadly pandemic COVID-19, a lot of challenges are there to face. This pandemic also reveals new opportunities in the health sector. There is a massive demand for professional healthcare service providers and fasciitis in the city of gold. Moreover, there is also a growing need for medical doctors, nurses, surgeons, staff, and other medical skilled persons. The government of the UAE is also encouraging the people to invest in the healthcare sector to provide better medical facilities to the citizens.
5- Travel and Tourism
The city of gold is the leading go-to destination spot across the world. It is considered a haven for tourists and visitors. In this business, there are opportunities for you in various sectors including business tourism, sports tourism, shopping tourism, cultural tourism, and others. Many other things that are closely related to tourism are hotels, restaurants, food stalls, food services, transportation, rental cars, and photography. You may also choose from these categories to get a business start-up in Dubai. This business has emerged as a powerful and strong industry with an annual economical impact of around 6.5 trillion US dollars across the globe.
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Final Thoughts
These are some of the most common and profitable industries and businesses in Dubai. Although setting up a business in Dubai can be a daunting or difficult task for you, once it gets settled you will certainly start earning your profit. All you need is to thoroughly understand the ups and downs of the business and it is better to seek professional advice for business setup.
