UAE has 2 main financial centers, Abu Dhabi and Dubai. Over the last few decades, the country has shown phenomenal headway in economic growth, claiming a superior place in the Gulf Cooperation Council (GCC). The UAE gained autonomy from the British protectorate in 1971.
Since then, they have channelized their progress by systematically reducing over dependency on oil and gas to less than 25% and focusing on economic diversification into sectors like tourism, logistics, financial services and real estate. The government of UAE has invested heavily in developing and implementing state-of-the-art infrastructure and job creation. The country boasts on one of the lowest unemployment rates in the Middle East.
Dubai will never settle for anything less than first place.
-His Highness Sheikh Mohammed Bin Rashid Al Maktoum
“UAE, Vice President
Prime Minister & Ruler of Dubai”
UAE has become a preferred commercial hub as many MNCs have established their base and running their successful empires from Dubai and the rest of the emirates. This is the result of stead fastly investing in improved economic policies like financial and economic free zones.
Dubai is the financial capital of UAE and is a classic amalgamation of Arabic culture blended with modern lifestyle. It has attracted numerous foreigners to setup their businesses in the city through favourable investment policies and promoting diversity and multi-culturalism. The city is a hub for service industries with industry-specific free zones.
The city vaunts one of the most aesthetic and mesmerizing skylines showing the talent of some of the best architects in the world. Sky scrappers like Burj Khalifa, Emirates Towers, or the Burj Al Arab are stunning master pieces and a must-see for any globe trotter. The government has given an impetus towards the growth and expansion of real estate and construction companies by offering various various opportunities for FDI and ease of setting up your venture in Dubai
In 2016, the city witnessed a visitor count of around 14.9 million and it is expected to grow to 20 million before the end of 2020. Two major festivals that attract maximum footfalls annually include the Dubai Shopping Festival and the Omega Dubai Dessert Classic Golf tournament.
The World Expo 2020 will be held in Dubai, tentatively by October. The expo will give a huge stimulus to the tourism sector as the city is expected to witness around 25 million domestic and international tourists for the event.
Did you know that Dubai ranks among the TOP 5 global cities for entrepreneurs and the Consumer Confidence Index for Dubai is ranks higher than some of the top financial capitals including New York, London or Tokyo? This is one of the reasons why Dubai is slowly crawling up the charts for entrepreneurs and established businesses to start and run their business successfully.
