Even though 2020 has been a challenging year, but 2021 will be the best time to set your business in UAE. However there are few industries which are driving a good business even in the post-covid environment.
Here are the 4 industries which are booming in UAE in 2021:
- Construction – The UAE construction sector has the opportunity to revise the way it operates in the post Covid-19 world. Even during the nationwide sterilization campaign, the UAE’s construction sector was one of the few sectors which was still working. The UAE market covers the growing construction projects in different sectors like commercial, residential, industrial and infrastructure construction. Compared to all the developed countries, Dubai has the low construction cost owing to its diversified economy, therefore this is one of the reason for the construction industry to boom in 2021. UAE has got a huge number of productive and skilled laborers, resulting in massive iconic construction in Dubai.
- Transport – In order to achieve a perfect balance between economic and social development, the UAE government ensures sustainable development while preserving the environment. The year 2021 highlights the importance of transportation and aims for the UAE to be among the best in the world in terms with quality of airports, sea ports and road infrastructure.
- Finance – The UAE has evolved into a major commercial and financial hub of the MENA region and it continues to remain focused on expanding its economy in 2021.Like most industries, the pandemic had affected the payment sector, however finance sector was able to withstand major shocks due to its robust foundation and prominence as an essential services sector.
- Technology- Although 2020 was unpleasant for most of us, but it was generally positive for the technology sector. Even during lockdown, companies started working virtually due to which the technology sector received a big boost and we can expect those positive effect even in 2021 and beyond. While the use of improved and virtual reality continues to increase, Technology will continue to dominate the workplace with artificial intelligence and smart assistants.
If you are planning to run business in any of the above sectors in UAE, don’t give a second thought. This is the right time to contact us as we are a Business setup consultant in Dubai to get guidance for your business incorporation process.
This blog is written by Ms. Rika Mascarenhas, Partner Relation Executive at Flyingcolour Business Setup, VAT and Accounting Services, Dubai. If you are looking for any business setup related consultancy in the UAE then please contact us at +971 4 4542366 or email us at info[at]flyingcolour[dot]com.
*Please Note: This article was published on 25th February, 2021. The information provided in the article is based on the policies and rules applicable at the time of writing it. Talk to one of our consultants for any recent update or change.