The United Arab Emirates is a multi-cultural hub comprising of foreign expats from all corner of the world. It has been recognized as a solid ground of business in multiple domains and industries. The nation also is considered to be an excellent destination for conducting national and international events. Be it national events like Dubai Shopping and Food Festival, or international events like Expo 2020, Business or Bollywood events, UAE has a ground for all. The destination is considered to be a central hub for every event, which attracts thousands of tourists around the year. According to research, more than 500+ events are on the way for 2019. This states that the event management business turns out to be a flourishing business in the UAE. If you still in the planning phase to set up a business in the UAE, related to event management, then this is all you need to know.
The Event Management Business in UAE
The event management industry in the UAE has gained popularity over the last decade. Since innovation is what businesses focus on, every next day a new product or service gets innovated. Launching of new products directly boosts the event management business, and it is to be noted that the Emirates is a ground favoured by booming entrepreneurs. In 2017, the Dubai World Trade Centre (DWTC) had conducted various events that accounted for AED 12.7 million, which is almost 3% of the nation’s economy. Moreover, Expo 2020 is ahead which is considered to be a revolutionary step that would boost the economy’s GDP by 20% by the end of 2025. Some of the different types of events include:
- Seminars and Conferences
- Trade Shows
- Appreciation Events
- Team-Building Events
- Product-Launch Events
- Business Dinners etc.
Now, let’s have a look at some of the upcoming events in the UAE.
Upcoming Events in the UAE
The upcoming events in the UAE hold:
- Expo 2020
- Dubai Tennis Championship
- Dubai World Cup
- Dubai International Film Festival
- World Dubai Art etc.
Steps to Start an Event Management Business in the UAE
In order to start an event management firm, you need to go through the following process
1.Apply for an Event Management License
The first and foremost step is to apply for an event management license that gives you permission to incorporate a business in the UAE. You can find the relevant information here.
2.Choose a Destination to Set Up
The next step is to choose a suitable destination/location that would help you to grab the attention of the audience.
3.Incorporate the Business Core Services
4.Apply for Visa Options
To hire foreign employees, visa services are to be availed.
Benefits of Setting Up an Event Management Firm in UAE
By incorporating an event management firm in the UAE, you will be able to grab the following benefits:
- Builds an opportunity to collaborate with national and international events
- Revenue generated for the period of the event turns out to be high
- Paves out a way to attract national and international tourists
- Creates an opportunity for your business to grow
In short, we can say that setting up an event management company in the UAE is a feasible option as it is a central hub of foreign expats. If you are already involved in event management business or is an entrepreneur who is planning to set up a business in this domain, this is the right time for you to initiate the process. Having a helping hand beside you ease the setup process to a further extent. A professional expert who holds complete knowledge on incorporating a business in the UAE can guide you at every step to complete the process faster. Looking for a helping hand? Don’t worry. Your guide is just below.
Commitbiz| Your Helping Hand
Commitbiz stands as one of the best consultants in the UAE dedicated to helping business owners and entrepreneurs to set up their business. Our team comprises of business experts who hold in-depth knowledge in the business setup process and can help you in dealing with and does provide custom solutions according to the business needs. To start your event management firm today, do contact us-we’d be glad to assist.
1. Which are the Top 7 event management companies in UAE?
Sky High Events
The Event Company
Great Wall Events
Purple Orryx DWC LLC
2. What is the cost of setting up an event management company in UAE?
Though it will depend on the location you’ve selected, you will be charged approximately AED 20000 (USD 5445.15) to AED 30000 (USD 8167.72).
3. What is the profitability scope of the Event Management business in UAE?
According to the DWTC (Dubai World Trade Centre), the event management sector alone contributes more than $3 Billion to UAE’s economy.
And the numbers have gone up since Expo 2020.
This goes on to show that it's a profitable market with a lot of room for growth.
4. Which are the most popular locations for setting up Event Management companies in UAE?
Fujairah Creative City
Dubai World Trade Centre
5. Which are the most profitable businesses in the Event Management sector in UAE?