Six most significant business opportunities for 2016 in Dubai
After a tough year 2015, it is highly expected to 2016 to generate modest economic rebound for GCC countries. This is expected to be led by slight rebound in oil prices and supported by strong financial assets as 4 of top 10 global sovereign wealth funds are located in GCC. Most of GCC countries will record higher GDP growth than in 2015. Due to downward pressures on oil prices, proactive steps are already underway by local governments and economic institutes to reduce the dependency on oil by increasing industrial diversification. Dubai being prominent regional hub in GCC is likely to get higher piece of cake from this expected growth.
Under the current circumstances following are the most significant business opportunities in Dubai:
- Renewable energy segment
The current economic situation is an opportunity to press ahead with diversification – not just away from energy, but also within the energy sector itself. Given climatic and meteorological conditions, and the current appetite for policies promoting the green economy, solar energy is high on the list .UAE plans to invest USD35bn in “clean energy” by 2021.
- Financial services
Dubai can press ahead with expanding its geographic advantage as at the crossroads of Europe, Asia and Africa to promote it as a regional hub for financial services. Islamic finance has enjoyed dynamic development with 16% annual growth.
- Logistic and transport services
The transport belt – Dubai has been a maritime hub for many generations but the UAE is now a major air hub. Emirates became the 6th largest global aeronautic company with 3.5% of worldwide market share. Dubai also has major ports.
- Various trading business
UAE is an established trading hub for decades. Iran is back in the game and Chinese development towards Europe and Africa positions the Dubai as a major crossroad hub. Leading Export houses from all over the world is eyeing to setup their regional head offices in Dubai.
- Tourism and related businesses
The Dubai leads tourism development in the region with activity multiplied multi-fold over the past 10 years. Dubai being host city for 2020 exhibition event, it is more likely to have booming tourism and related businesses.
- Retail businesses
Dubai will leverage on wealth based in its own domestic markets and ever increasing expatriate population. Dubai already has world class malls showcasing world class brands from all segments be it mid or high level brands.
In general Dubai enjoys high attraction from businessmen from all over the world, thanks due to its strategic location, world class logistic facilities, sound law and order and tax free status.
Flyingcolour business setup services is a leading company registration provider for main land / free zones / offshore in UAE and assists clients in providing suitable company registration solutions based on the business plan. For more information please call 0097150 5585305 or raj@flyingcolour.com
The author for this article Mr. Raj Herry is a founder of Flyingcolour business setup services and this article is based on the research extracted from recent news. Author does not accept any liability for the views and opinions expressed in this article or consequences of any actions taken on the basis of information provided.
