Dubai, located at the heart of the UAE, is regarded to be one of the world's fastest-growing cities. The area unites millions of tourists from different parts of the world, turning out to be a popular tourist destination. The Dubai Tourism Department has seen an improvement when it comes to the number of tourists over the past few years. The overall foreign visitors reached a total of 15.92 million in 2018. For business owners who want to set up a business in Dubai dealing with the tourism industry, this continuously growing number turns out to be good news. Also, the hospitality industry is indirectly benefiting from the same benefits. The Government of Dubai has developed many plans, taking into account all the possible details, and one of them is the 2020 Dubai Tourism Strategy. This blog will help you through the established tourism strategy and how you can set up a company in the same sector. Let's begin by understanding the -
Tourism Industry in Dubai
The United Arab Emirates adopts a plan of economic diversification. The tourism company stands as one of the highest performing sectors in the UAE, contributing to almost 10 per cent of UAE GDP. The industry has given numerous advantages and substantial opportunities to turn the area into an entertainment and tourist spot. It has a wide-spread map connecting with every known nation when it comes to transport connections. Dubai turns out to be an eye-catching location, gathering foreign ex-pats from every possible corner, whether it is museums, international conferences, event management, or even international sports events. The area is currently looking forward to Expo 2020, which is supposed to be one of the critical drivers of the 360-degree transformation of the Dubai economy. Let's try it out for a look.
Expo 2020- The Collaboration and Innovation Forum. The Expo 2020 Dubai has collaborated with leading American companies, including Accenture, Cisco, Mastercard, PepsiCo, UPS, etc., with leveraging the tourist experience to the next level when it comes to partnership. According to a study published by Standard Chartered Bank, about 3,00,000 jobs will be generated by the Expo, of which 90 per cent of job openings would be provided by the tourism and travel industry. Click here to see how a significant shift in the world can take place. It now offers business owners and investors a broader opportunity to invest in Dubai's tourism business. In the later part of the post, you will get a good indication of this. Let's take a look at the Tourism Vision 2020 as of now.
Dubai Tourism Strategy 2020
The UAE Department of Tourism has built an innovative tourism strategy that would draw 25 million visitors by the end of 2020, assisted by continuous preparation and strategy building. The ultimate aim is to boost the rank of Dubai in the first place when it comes to the international tourism market, surpassing Bangkok, London and Paris. It needs more than 50 per cent of the current number of visitors. It is planned to contribute 12.4 per cent of GDP by the end of 2020. Furthermore, the effect also was seen in the jobs sector as it expands to hit its next level.
In 2013, the 2020 Dubai Tourism Initiative was approved. It is a strategic roadmap with the main target of attracting 20 million annual visitors by 2020. The approach focuses on making Dubai the first choice' for international leisure and business travellers.
It involves enhancing the supply of activities, attractions, facilities, services and packages in Dubai and making it attractive to a broader audience. The plan will concentrate on three main goals:
- Preservation of market share in current source markets
- Growing market share for markets with high potential for growth
- Rising the number of trips replicated
Tourism Business Opportunities in Dubai
A broader scope for tourism business in Dubai can easily be seen as stated earlier. It is also feasible to see an extension of medical tourism that has been continuously growing. The medical tourism industry is anticipated to have a value of $19.5 million by the end of 2020, opening the way for more than 40,000 healthcare professionals. The tourism sector in Dubai has grown dramatically, attracting millions and millions of tourists year after year. If you are planning to start a Dubai tourism business, then it is the right time to step in and implement it for you. In addition to Dubai, Ras-Al-Khaimah has also launched the Tourism Development Strategy 2019-2021 to leverage and develop the sector.
How to Start a Tourism Business in Dubai?
Well, the incorporation in Dubai of a tourism sector involves the obtaining of licences for travel agencies. Once you have received the consent, the business operations are performed accordingly. It is necessary to submit the following basics to the Tourism and Commerce Department of Dubai.
For Inbound and Outbound Activities
- Correctly completed application form to the Department of Tourism and Commerce of Dubai.
- A transcript of the applicants' valid international passport
- Certificate of the applicants' professional qualifications
- Report on Technical Feasibility
- Fee for processing: 10000 Dirhams
For The Travel Agency Profession
- Fee approves insurance policies for company insurance.
- Leasing contract stating the location of the office
- Dubai Police Certificate of Clearance
- Certifications work-experience
- Request approval of the commercial name of the agency
It is to be understood that starting a business without any advice in a foreign land could end up in trouble. For making the process easy and moving on in a hassle-free manner, it is recommended to have a word with one of the business consultants who have in-depth knowledge of UAE laws and can assist you in setting up the process.
Are you curious whom to contact? Don't be nervous. Commitbiz is here to help you achieve your corporate dream. Our business experts have industry expertise and are well-equipped with the method of business setup. Contact us to have a word with our experts; we will be happy to help.