Tourism is booming all over the world. With air travel getting significantly inexpensive, a larger chunk of the population is able to afford an international vacation. Dubai, on the receiving end, is only an eight-hour journey for more than two-thirds of the globe. Home to the tallest building in the world as well as some great amusement parks and hotels, Dubai has emerged as one of the forerunners in the global tourism industry.
With Expo 2020 around the corner, Dubai is preparing itself for a massive tourism boost. With the biggest players in the hospitality sectors looking to expand their business, the sector is the one to look out for. For those looking to start a tourism business in Dubai, there is no better time than now. According to an index by MasterCard, tourists spend more in the city of Dubai, more than any other city in the world. The said estimate is an average of 537$ a day, and 30$billion is said to have been spent in the year 2017 alone. Tourism accounts for almost a tenth of the GDP of the UAE.
Reasons to Invest in Tourism in Dubai
There are numerous reasons to start a business in the tourism sector in Dubai. Dubai is home to some of the world’s most iconic destinations including the Palm Jumeirah, Palm Deira and Dubai World as well. Dubai is also getting its own LEGOLAND Hotel in two years. A few important reasons are listed below.
Dubai Expo 2020
The emirate is all geared up for the event of the decade. Expo 2020 is expected to have at least 25 million visitors over a period of 6 months. That’s around a million visitors a week. The demand for the tourism and hospitality sector is going to rise in the coming months. The tourism sector is set to have tie-ups with the organiser of the expo as well. This is a great opportunity to boom and set a mark in the UAE. Many tourism companies have already taken steps to expand their business to cater to the crowd expected in the coming year. For those looking to set up a hospitality business, there are a number of options available right now.
Dubai Safari Park
For all the wildlife lovers out there, the 120 hectare Dubai safari park is a host to lions, elephants and other animals. A Hotel complex is set to open in 2020 with multi-continental villages including Asian and Arabian themes. These villages are also said to have matching architecture.
Ain Dubai (Dubai Observation Wheel)
The world's largest observation wheel is set to open right before the Expo 2020. At around 210 metres, Ain Dubai is set to have a capacity of 1400. The views available from the wheel are Burj Al Arab, Burj Khalifa Palm Jumeriah and Palm Atlantis Hotel.
The world’s longest Zip-line is in Dubai. For adventure enthusiasts, this is a once in a lifetime opportunity.
Dubai is home to the tallest building in the world, the Burj Al Arab. Dubai has one of the best hospitality sectors in the world. The hotels in Dubai are a world apart and offer the best facilities and one of a kind experience. This serves as a huge attraction for those looking to visit the middle east.
Business Friendly Policies
The government of Dubai encourages investments on a large scale. With a hassle-free setup as well as quick document processing, a business in Dubai can be started in no time. Also, the need for a local sponsor has been removed in Dubai mainland as well. This allows for complete autonomy in any business with no worry of external pressure. The cost of setting up a business is drastically reduced.
Dubai's free zones are a huge boon to investors. With zero per cent tax as well as full repatriation benefits. It’s every investor’s dream to start a business in Dubai.
Low Oil Prices
The cost of oil in Dubai is said to be lower than the majority of the world. This means that starting a tourism business in Dubai is going to be cost-effective.
Dubai is a dream destination for a lot of tourists. Its world-class infrastructure has attracted numerous investors. Now the Dubai government has eased out its business policies, thereby attracting even more foreigners. The number of visitors has increased significantly in the past few years.
Are you looking to set up a tourism company in Dubai? Our team of experts at Commitbiz offer the best business advisory solutions in the UAE. Feel free to contact us, and we'd be more than happy to help you.