Dubai is often called the ‘Gold City of the Middle East’.It is one of the most prosperous emirates and is also a favored destination for multinational tourists. And why should it be? There are a number of places to visit in Dubai. Is widely known for the Dubai shopping festival which happens each year in December. It is also known for the iconic Burj Khalifa(the world’s tallest building), which provides a panoramic view of the city's skyline. Then there is the iconic Burj Al Arab, Palm Jumeirah, Palm islands, Dubai Marina - all of these places make Dubai a must visit destination.
People also visit Dubai to enjoy the vivid nightlife, take a taste of the delectable world cuisine, splurge in the shopping malls, get a glimpse of mammoth aquariums and experience adventurous indoors ski slopes and desert safaris.
As a city, Dubai has changed from what it was 20 years ago. Today, when you speak of world cities, you talk about London, Hong Kong, Paris, Tokyo- and Dubai. Yes, Dubai is on that list now.
It is an international gateway city with a wide spoken level of English language, a rich cultural heritage, a great deal of stability, safety, tolerance, and infrastructural excellence.
Tourism in Dubai is booming and business setup in Dubai tourism industry is a great idea for entrepreneurs. Let us explain why.
In this blog, we list 5 reasons why you must bank upon the tourism industry of Dubai for your business set up goals.
- Increasing avenues beyond the Oil industry
Post the peak of the oil era in the UAE, which happened sometime in the 80s to mid-90s, the government has diversified into other avenues - Aviation, Trade, Financial services, IT and Tourism.
According to the IMD World Competitive Center Index, in 2012 the UAE was ranked as the 26th most diversified nation.
Dubai is also becoming a center of the global conferences and conventions meetings. Multinational conglomerates frequently choose Dubai as a meeting center due to excellent and world-class infrastructural amenities. Each conference causes an inflow of hundreds of delegates, thereby creating a steady demand for business tourism-related activities.
- Infrastructure and Hospitality
The Dubai airport receives around 67 million international passengers in a year's time. To handle more capacity of passengers, Al Maktoum International airport has come up and is poised to be completed by 2027 and shall cater to 167 million passengers. This stated the sheer preparedness of the Dubai Airport Authority for inflow of passengers.
The Dubai Department of Tourism is also investing heavily in the hotel industry by enabling the building of multiple hotels and being hospitable to the incoming visitors. There are numerous places to visit in Dubai and there are multiple things to do.
- Population on the rise
There has been a steady rise in the population in UAE. This can be due to many factors-primary being a large number of expatriates settling down in the city with their families. Besides that, the city is also seeing the rise of the middle-class independent families. A number of visitors from Russia, India, and China flock to Dubai for leisure or business purposes. They are mainly attracted by the golden beaches, close proximity, and host of leisure activities in this region.
- Strategic location
This city is located strategically between Europe, Asia, Africa, and the Americas. It is well connected by airways and waterways to main cities in these continents.
Due to this strategic location, Dubai has become a famous and convenient transit hub for most airlines. The government’s agenda is to somehow convert the in-transit into stopover traffic.
Adding to strategic positioning are the foreign-investor-friendly policies of the Dubai government which makes a business set up a swift and easy process. There are also added advantages of tax benefits in the multiple free zones. Business owners enjoy 0% corporate tax, 0% income tax, and no customs duties when conducting business in UAE, provided they are operating in a designated free zone.
- The Digital Effect
We are in the information age when information is digital and is readily available. Two areas where Dubai tourism is getting a good boost from our -online booking and digital travel content. These are influencing a number potential tourists to make a visit.
On social media as well there is a strong presence. #MyDubai #Dubai and #JumeirahGroup are high on followers on social platforms, signifying great interest in this region.
All the above factors make Dubai a favorable destination for business setup as well. Business owners can look into investing in many avenues in Dubai commercial sectors to leverage the growing tourism industry. Whether you want to start a travel agency, a hotel/restaurant business or a retail store, Dubai seems to be a perfect destination due to flexible and friendly government policies for foreign investors.
If you think you have a viable business idea and a desire to get started in Dubai tourism industry, speak to International business consultants, Commitbiz- who have years of experience in providing business consultation.
So, don't wait up, contact us today and we will assist you in getting started right.