Dubai has emerged as a key business location in global terms, with a rise in multinational companies choosing to use the emirate as a regional base. There are clearly advantages that have enabled the attraction of such businesses, which might be summarised as follows:
The difference in time zones between Europe and the Far East can create complications for those businesses that operate in both regions, but the Middle East acts as an important bridging point. As such, Dubai can offer a gateway to both regions, making it easier for international companies to do business.
There is also a level of accessibility for those dealing in physical products. Transporting goods to regions of the world is assisted by the geographic advantages offered by the region.
Access to markets
That bridging role enables access to significant markets within Europe and the nations of the Far East, but Dubai also borders huge local markets, including the Gulf area, central Asia and Africa.
There is an undoubted view that Dubai is “on the up” and this is borne out by a wide range of economic factors. It’s evident that businesses are attracted to the emirate and to the wider region by this notion of success. As this growth continues, it’s natural that an increasing number of businesses should wish to be part of that success.
The foundation of growth in Dubai has been the political stability, enabling investors to approach investments with real confidence. Banking and regulatory systems are well developed, with the government having consistently taken an approach that is seen by many as being pro-business.
There has been considerable investment in local infrastructure improvements, with a focus on transport, telecommunications, energy and industry. The establishment of appealing free zones has also been a key driver in attracting inward investment.
The quality of life in Dubai is undoubtedly high, with the combination of impressive infrastructure, low crime rates, excellent provision of leisure facilities and low rates of personal taxation meaning that it is becoming increasingly easy to attract good quality employees within the location. As a result, the available workforce is booming for employers.
These lifestyle advantages are important in creating an environment in which professionals are able to network and interact more easily too. Businesses will often locate to regions where employees feel safe and happy; looking at Dubai’s beaches and clean environment, it comes as no great surprise that so many businesses are relocating here.
A booming manufacturing sector
It’s tempting to think about Dubai as a haven for the service sector, but there has been considerable growth within manufacturing too within recent years. The growing reputation for the manufacture of good quality products has boosted the export market for goods produced within Dubai. Manufacturers are finding that they can benefit from the excellent opportunities to gain access to local markets, where levels of demand for manufactured products continue to grow.
Are you considering doing business in Dubai? We believe that this is an excellent location that is well suited to an entrepreneurial approach. If you’d like to learn more about local legislation and opportunities, then our team would be glad to help.