BUSINESSES WITH MAJOR POTENTIAL IN DUBAI & THE UNITED ARAB EMIRATES

This article was updated on July 6th, 2023

This article has been researched and written by Carolyn Cairns and the team at Creation Business Consultants and has not used AI in generating this article.

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 55 plus free zones, or you wish to set up your company in mainland Dubai and the United Arab Emirates (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 on year.

We have listed the top industries that continue to thrive and recommend investors to consider setting up or expanding your business to Dubai and the UAE.

INFORMATION TECHNOLOGY (IT)

Dubai has established the goal of becoming the world’s smartest city and has put the UAE on the map to attract 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 45 and 56 out of 102 global cities respectively).

Almost every sector of business across the UAE offers opportunities based on innovative technologies and solutions. With over 1,200 tech startups in Dubai and the UAE, there are several hubs for tech-based industries, including Dubai Silicon Oasis and Dubai Internet City free zones.

FINANCIAL SERVICES

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.

HEALTHCARE

The UAE has a comprehensive, government-funded health service and a rapidly developing private health sector that delivers a high standard of health care to the population. Public healthcare services are administered by different federal and emirate-level regulatory authorities including the Ministry of Health and Prevention, Health Authority-Abu Dhabi, the Dubai Health Authority, and the Emirates Health Authority. 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 a result of the growing healthcare provision, there are new state-of-the-art centers and facilities. In addition, quality healthcare workers have arrived in the UAE from all around the world to provide top-notch care. The high quality of healthcare is probably why medical tourism is thriving in the country. Take Dubai for example; by 2022, 500,000 people will travel to Dubai for healthcare each year.

The 2022-2025 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:

• Primary care and ambulatory care
• Urgent care clinics
• Mental health clinics
• Chronic disease management
• Home-based care
• Long-term and extended care (such as palliative care clinics and nursing homes)

TRAVEL & TOURISM

The UAE 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 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 is the perfect time to open or relocate your tourism business to the UAE.

CREATION BUSINESS CONSULTANTS

At Creation, our team of expert consultants is ready to help you set up your company in Dubai the UAE. We will 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 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 sphere (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 via email [email protected] or call +971 4 878 6240 we look forward to speaking with you soon.

Carolyn Cairns,
Commercial Director