The United Arab Emirates turns out to be one of the prime tourist destinations at a global level. The growth of foreign expats has acted as a catalyst to leverage the hospitality business. Global hospitality giants ranging from Hilton to Hyatt and Marriott has found the UAE as their ultimate business destination. Abu Dhabi, the capital of the UAE, stands as a prime location if anyone plans to start tourism or hospitality business. Nowadays, the Emirati Government takes multiple steps to increase the number of foreign investors to come forward and set up their business roots. Starting a business in Abu Dhabi is quite easy, and this guide will highlight the advantages of starting the hospitality business in Abu Dhabi.
Hospitality Industry in Abu Dhabi
Ranging from the earlier stage of 2007 to 2017, the hospitality business in Abu Dhabi has directly contributed by 138% towards the nation’s GDP. By the year 2020, it is expected to attract 30 million international tourists, backed by Expo 2020. With the rise of the tourism industry, there exists a parallel increase in the hospitality industry. According to projections, the country’s hospitality market is expected to stand a value at 7.6$ billion by 2022 with a projected growth of 8.5%. Incorporating a hospitality business in Abu Dhabi has turned up to become the first choice of investors. Let’s move on to the next section and have a look at the advantages of incorporating one.
Reasons for Starting a Hospitality Business in Abu Dhabi
Some of the specific reasons that leverage the hospitality industry in Abu Dhabi are as follows:
The UAE is known for its rich culture and its heritage that reflects and speaks about traditional Arab and Islamic values. The region turns out to be one of the most visited countries in the world, attracting millions of visitors worldwide. This step gives a boosting opportunity to the capital city, Abu Dhabi, to increase the number of the hospitality industry in the region. Since the last decade, the hospitality industry in Abu Dhabi and Dubai has seen a positive shift and is expected to reach further by the end of 2020, backed by the upcoming Dubai’s Largest Expo 2020.
The UAE turns out to be a pleasant spot for holding sporting events, which in turn lifts the tourism and hospitality industry to the next-levels. The Abu Dhabi Sports Councilconducts numerous sports events like 2019 Triathlon Series, Duathlon, Pink Run etc. Upcoming 2019 Olympics will also be held in Zayed Sports City Stadium, Abu Dhabi, which will increase the number of visitors to the next extent.
3.Entertainment and Shopping
No one can deny when it comes to international shopping festivals that are organized in the UAE. Dubai’s Shopping Festival that takes place in January every year attracts the worldwide audience in its arena and gives them the ultimate experience of shopping. On the flip side, the country also focuses on enhancing the entertainment industry which is expected to see a positive inclination by the end of 2020, which stands as another strong point while grabbing the attention of the international audience.
When it comes to business, the UAE is considered as an international hub. Ranging from newbies to experienced professionals in the business world, the UAE has got a space for all. The business establishment has turned up one of the most important factors of gaining the attention of worldwide business investors and entrepreneurs. This becomes an excellent opportunity for the tourism and hospitality business to excel their business and grow it to the next extent.
Dubai has not only leveraged its tourism scope at a general level. The region has turned a step forward and has left no stone unturned when it comes to medical tourism. Millions of tourists visit the UAE for medical purpose, which has increased the number of medical tourists in the region. The medical industry is uplifted with the use of modern technology that eases the way to carry out the medical functions and has built its status in the minds of the foreigners to come forward and opt for medical tourism.
In a nutshell, we can say that Abu Dhabi being the capital of the UAE, has got a favourable climate to leverage the hospitality industry as the region grabs the attention of millions of foreign expats. Business investors find the region more suitable for the business and come up with ideas to establish one. However, the incorporation process of a company dealing in the hospitality industry does require multiple documentation processes that need to be completed in an error free-way. Carrying out the same with the help of experts saves time to a great extent and also provides a hassle-free way of establishing the business.
We at Commitbiz, help our clients to convert their business dreams into reality by helping them in the incorporation process. Our business experts are well-versed with the company establishment proceedings and provide tailor-made solutions that help us stand as one of the best business consultants in the UAE. To start a hospitality business in Abu Dhabi, do contact us today-we’d be glad to assist.