Have you ever wondered why Dubai in the last few years has excelled as an international trading hub & one of the most opted destinations for meetings, conferences, exhibitions, trade & sporting events. Dubai’s international trade has grown over 11% year by year since 1988 and one of the major factors behind this is Dubai’s strategic geographical location which is an economic middle of Asia, Africa, Europe and Russia.
In such a short span of time Dubai has established its name as a most diverse & vibrant destination offering vast number of exposed opportunities for business expansions, State of art infrastructure & quality of living.
Economical & Financial Facts:
As per the recent report submitted by CBRE there is an endorsement which is reinforce by the facts that 56 percent of global multinationals choose to have their presence in Dubai by having their operating offices in this promising emirate.
The overall growth in business financial services, tourism, trade & logistics has played an important role in fueling Dubai’s existence as international trade hub. Not limited this but a gateway to establish business in Dubai is easiest. It has also been projected by IMF that UAE economy will outperform UK, Germany, USA, Singapore & Hong Kong over 2015 – 2020. According to World Bank “EASE OF DOING BUSINESS” ranking in 2017, Dubai as one of the emirate secured 26th position which was recorded 34th in 2016.
Dubai Key Advantages:
After long been popular for tourism or holiday destination and professional’s most favorable place for their business and career growth. Dubai is now way ahead to diversify its economy with heavy investment in infrastructure and corporate tax system which is why it has been recognized as one of the five fastest growing metropolitan area of the world. The city is transforming into an innovation hub now looking to empowered startups and entrepreneurs globally hence Dubai government investing huge to make this goal a reality. In recent studies according to the Dubai Chamber of Commerce support from government & semi government institution resulting boom in the ecosystem of city technology which recorded 16,800 businesses being launched by Dubai based entrepreneurs in 2016 which was up on 9 percent from the previous year.
Landing to this emirate for business expansion is like introducing your venture to world’s most vibrant business communities and same time providing them an exposure to your concept which creates a synergy of Business development.
Induction of your dream business to a landscape which covers 52 percent of global multinational’s preference in choosing Dubai city as their regional headquarters.Last but not least, a sense of encouragement by the emirate’s highly proactive & pro entrepreneur supports policies.
Potential Networking Grounds:
Networking globally with masters of businesses is an iconic remark behind setting up a business in Dubai. A vast number of business opportunities & an exposure to associate with the group of high net worth entrepreneurs from all around the world is what crafting a benchmark.
Being known globally as business hub, there are plenty of business clubs serving most specific intellectuals & professional disciplines. Moreover THE DUBAI CHAMBER OF COMMERCE facilitates such business groups and associations in the emirates. It also records around 38 business councils along with 13 registered business groups from various operating sectors catering all kind of industries.
Since today trade & tourism are the biggest key sector in emerging Dubai as a huge influx of business travelers, considering same it is an only place in world which has setup special zones where law encourage international investment and particular industries. The geographical location, low taxes, affordable free zones, Business network globally, quality of living, state of art infrastructure, hospitality, innovation and technologies makes this emirate an ultimate destination for new age entrepreneurs.
Dubai Trade & Logistics:
UAE has placed as the best performing trade logistics service provider in the gulf region by the World Bank. According to the survey made by logistics performance index conducted every two years. Goods can travel nonstop from the UAE to the entire world as it is located halfway in between the time zones of London & Hong Kong. Moreover this logistic sector in UAE is expected to experience high growth over the next few years which is cementing UAE’s position on the globe as a leading logistic hub in the world.
When we talk about volume, the global T & L industry is expected to reach 92.1 billion ton by 2024. Global economy revival & above increase in trade volume are some major contributing factor for the growth of third party logistic market as it is expected to grow on more than 5% CAGR (Compound Annual Growth Rate) by 2020. Recent survey on MENA’s as strategic location, all the spotlight is on Dubai as a favorable place for international trade & logistics. Having well established and modern facilities including free trade zones & local marine terminal operation makes Dubai one of the largest hub in changing global trade lanes.
Facts reveals are that UAE has trade relation with almost every country across the globe. A diversified network of air, sea and road transport, the bulk of economic activities is inclining trends towards maritime transport. There are total of 134 seaports handling a total of 463 million TEU’s of containers traffic, out of these GCC has about 41 ports which together handles 68% of MENA’s container traffic.
Not only limited to sea transport, the region also has 114 international & domestic airports including 43 GCC airports. This all became possible due to UAE’s low logistical & operational cost, excellent infrastructure, international outlook, modern warehouses, simplified customs procedures, Developed 34 free trade zones with full ownership, competitive import duties, rapidly developing manufacturing sector, extensive foreign trade , Quality of life and list is just on & on.
Dubai Wholesale Trade Markets & Souks:
Dubai as wholesale city is a modern wholesale and an integrated development that supports business growth by connecting traders & buyers. For traders it accelerates the whole trading process with endless support facilities for their business and offers exposure for their products. At the same time for buyers have diverse competitive opportunities and a wide range of trade options to choose from like:
- Strategic Location which is 10 minutes from Al Maktoum International Airport & almost same from Jabel Ali Port.
- One stop shop for wholesale traders shipping, customs, insurance, finance ,residential, hotels, showroom & others.
- Integrated city with modern infrastructure and smart services.
- New global trading hub capital of wholesale trading for the world.
- Base for the top 15000 wholesale traders in the world.
- Specialized markets for various whole sectors like Murshid bazaar for clothes & textile, Dragon Mart for Chinese products, Meena bazaar for Gold & Jewelers, computer market for gadgets & electronics and Deira souks for Cars & spare parts, dry fruits, spices, textile & furniture & appliances etc.
Initiating a right trade license:
As heard often that success lies in delivering the best out of your capabilities, though Dubai serves multiple business opportunities & options for upcoming entrepreneurs but choosing right trade for oneself is an achievement in itself in this magical city. In order to take your concerns ahead for business startups or expansions, licensing a company can be carried further with the help of experienced consultancy firm under whose guidance one can end up having right choice of trade license & Business Incorporation.
This blog post is written by Ms. Shweta. Feel free to call our Business Adviser today for a quality consultation relating your Business queries. Please send inquiry to
info[at]flyingcolour[dot]com or call +971 4 4542366. Flying Colour Business Setup Services is the leading business setup in Dubai from past 15 years. Please do not hesitate to call and discuss your business plan with our business advisor. We will be happy to provide you all the assistance.