Security issues and trade tensions continue to hinder corporate growth in the developed world. Foreign investors are looking towards the UAE as the ideal location to conduct their business. Whether you decide to setup your company in one of UAE’s 50 plus free zones, or you wish to set up your company in mainland UAE, businesses situated across the UAE has the potential to reach over one billion people throughout the MENA region.
Investor friendly and with a cost of living that’s lower compared to other developed cities, the UAE economy continues to experience economic growth year over year. According to The International Monetary Fund’s (IMF) Regional Economic Outlook, the UAE has projected a 2.8 percent real GDP growth for 2019, with an additional 3.3 percent growth expected in 2020.
Creation Business Consultants has put together a few of the top industries poised to thrive in the UAE.
The UAE, in particular, Dubai, has established the goal of becoming the world’s smartest city by 2021. As such, the region has become an international magnet for tech-based businesses. According to the latest Smart Cities Index Dubai, both Dubai and Abu Dhabi are ranked among the smartest cities in the world (ranked 45th and 56th out of 102 global cities respectively).
Almost every sector of business across the UAE offers opportunities based on innovative technologies and solutions. With over 1200 tech startups in the UAE, there are several hubs for tech-based industries, including Dubai Silicon Oasis and Dubai Internet City free zones.
The UAE continues to attract many large-scale businesses. Coupled with market growth, there remains a growing demand for professionals who offer financial and consulting services. Furthermore, Dubai has announced its long-term plan to triple the size of its financial hub as they strive to accommodate continued growth and development across the country. From accounting and bookkeeping services to auditing and financial advisory services, it is the perfect time to tap into this growing market.
The UAE has entered a new era in healthcare with the rise of medical tourism and the implementation for all employers to provide mandatory health insurance for their employees. As medical tourism continues to grow in Dubai, with a target of attracting 500,000 medical tourists per year by 2020, the demand for hospital beds and patient care has exponentially multiplied.
The 2017-2020 DHA health strategy focuses on inviting private sector investment into building the primary, tertiary, and secondary level health care facilities in Dubai. In particular, the strategy focuses on expanding innovations over the next five years in Dubai Healthcare City, to include the areas of:
United Arab Emirates serves as a regional hub for meetings, conventions, and exhibitions, hosting several thousand visitors annually. Thanks in part to travel incentives and the highly anticipated Dubai Expo 2020, the travel and tourism industries are expected to grow exponentially across the UAE.
As more visitors add UAE destinations to their travel hotspots, they will require hotel accommodations, entertainment options such as shopping malls and museums, and other attractions to accommodate their visit. It’s the perfect time to open or relocate your tourism business to the UAE.
At Creation, our team of expert consultants are ready to help you set up your company in the UAE. We’ll help you assess your business to determine which area is the best for your company to grow and thrive, taking into consideration both free zones and mainland locations and licensing options. We can have your company registration completed and have you operational, and earning profits in as little as 24 hours.
Whether you are in IT, manufacturing, hospitality or health care (and everything in between), our team of experts have the skills and experience to guide you towards the most appropriate company structure.
Contact a member of our team today to schedule your free consultation.