The region of UAE has got a favourable business climate, which gets appreciated by the foreign investors and business owners, and provokes them to start a business in UAE. In recent years, multiple flexibilities have been provided by the Emirati government to grab the attention of foreign investors and increase the FDI flowing into the economy. One of the growing business that grabs the attention of the current scenario is Medical tourism.
It is a well-known fact that Dubai stands among the list of one of the most targeted tourist destinations. Along with time, medical tourism turned out to be another dimension blending the healthcare and tourism industry. According to a report published by the Gulf Times, medical tourism in the UAE increased by 5.5% in 2018. This growth enhances more business options for global investors to come and invest in the medical tourism sector. This guide will turn out to be helpful for you to proceed with the necessary steps. Let’s start.
Healthcare Business in UAE
The healthcare sector is one boosting sectors of the UAE that has been evolving continuously. As per the Medical Tourism Index, in 2018, the UAE stood as one of the top 20 medical destinations of the world. Dubai, the heart of Dubai, has got the world’s highest count of physicians-to-population ratio. The healthcare business is expected to hold a value of 8.8 billion AED ($2.4 Billion) by the upcoming Expo 2020 will have a significant impact on the healthcare industry. Dubai Healthcare City (DHC) is taking numerous initiatives to boost the healthcare industry.
Growth of Medical Tourism in the UAE
The Dubai Health Authority (DHA) has taken an initiative to innovate Dubai Health Experience (DXH), which turns out to be the first ground to blend tourism and the healthcare industry. In 2018, UAE Medical tourism fetched in AED 12 Billion. Looking at the growth opportunities it possesses, a similar step has been taken by the Emirate of Abu Dhabi, wherein the Abu Dhabi Department of Health and Abu Dhabi Department of Culture and Tourism (DCT) has joined hands with Abu Dhabi Medical e-portal to boost the medical tourism to the next extent.
Adding more to it, a Memorandum of Understanding (MoU) has been signed between the Department of Culture and Tourism-Abu Dhabi and Medical Tourism Association (MTA) to boost the sector. It also includes the hosting of World Medical Tourism and Global Healthcare Congress by October 2019, which is expected to attract an audience from more than 100 countries. Multiple business collaborations are expected to take place, and as a result, there will be enormous possibilities for the growth of the sector.
Research has been conducted by Euromonitor International regarding the future growth aspects of the sector. Below mentioned is the graph that projects out the growth of medical tourism in the coming years.
Thus, you can see that there is a definite inclination, which states that there will be multiple business opportunities for the Medical Tourism Industry. Business investors and owners are finding it to be a perfect platform to invest in the present because Dubai Expo 2020 is on the way. The event is looked upon as a business collaboration platform and is expected to attract more than 25 million visitors.
Reasons to Invest in UAE
Now, you must be wondering why to invest in the UAE. Well, below-mentioned are a few reasons for it.
- 100% repatriation of capitals invested and profits earned
- Complete tax-exemption
- Availability of multiple locations like Mainland, Free Zone and Offshore
- Easy availability of local sponsor
- Easy availability of a business license
In short, we can say that Dubai stands as a perfect destination when it comes to medical tourism. The growing demand for medical tourism has been fetching out multiple options for the business investors to take a step forward and invest in this particular domain. Multiple schemes have been developed by the Government of UAE to provoke the investors to come forward and start their own business in UAE.
Proceeding ahead with the help of a professional expert turns out the process much more comfortable. Commitbiz Consultants, one of the best business consultants in Dubai, is well-versed with the business essentials at the initial phase. Since its inception, the business experts at Commitbiz has been helping multiple clients across UAE to set up their business across UAE, Oman, Qatar, Bahrain. Your business requirements will be understood, and customized solutions will be provided accordingly. To have a word with our experts, do contact us-we’d be glad to assist.