There is no fragment of the doubt when we go on record and state that Abu Dhabi is the fastest growing and will soon become the most promising business destination in the United Arab Emirates.
Abu Dhabi may not be the most popular destination of its Emirati siblings because, in terms of global popularity, Dubai picks the top spot amongst the seven emirates in the UAE. But when it comes to analyzing the business market, the concentrated flow of every business in the UAE is connected to Abu Dhabi.
Being the capital of the United Arab Emirates, not only in Abu Dhabi the core for largescale economic policy changes, but it also occupies the most abundant coastal space giving largescale access to the Persian Gulf.
Therefore, the majority of the trading, export, and import businesses choose Abu Dhabi for doing business, and the sibling emirates purchase resourceful raw materials from supplier entities originating from Abu Dhabi. This profoundly influences the aspect of business setup in Abu Dhabi.
An industry in any geographic location on the planet gains corporate momentum to reach new heights only when the government or administrative authority of that specific business location takes an interest in the corporate activities of the private entities contributing to the economy. This leads to crucial partnerships being made between public and private enterprises for social and economic welfare. Such is the backstory of Abu Dhabi and its rapidly growing business market.
Moreover, in order to boost businesses as well as encourage entrepreneurs and multi-national corporations to set up business in the UAE, the leaders of Abu Dhabi have introduced various long-term visions and missions. The aim is to achieve a sustainable business-friendly future for the companies that build the economy as well as encourage diversity and innovation for a globalized industrial approach.
The Future of Abu Dhabi – Vision 2030
The current Emir of Abu Dhabi, as well as the President of the United Arab Emirates Khalifa bin Zayed bin Sultan Al Nahyan, approved the optimistic and ambitious Abu Dhabi Master Plan 2030 that consists of various sub visions aimed to bring about large-scale opportunities across multiple business sectors. These vision categories are –
- Urban Planning Vision 2030
- Economic Vision 2030
- Abu Dhabi Vision 2030 – aimed towards Tourism, Sustainability, and Cultural DiversityThe enthusiastic involvement of the government has triggered the curiosity of several investors to pump their funds into UAE based businesses; thus, resulting in promising development in the corporate ecosystem and emerging business opportunities in Abu Dhabi.
Emerging Business Opportunities in Abu Dhabi
From fashion to food, smartphones to smart learning, this sector is skyrocketing through the roof in the UAE. The new generation of consumers is demanding online services that are simple to access through the internet and make lifestyle convenient for living in Abu Dhabi. Global economists have also stated that E-commerce has vastly enhanced and influenced the standard of living as well as the lifestyle of consumers. The significant businesses that
are operated through online mediums are –
- Food Delivery Services
- Electronics Retail
- Fashion Retail
- E-commerce Aggregator services
- Accessories and Merchandise
- Business Setup Services in Abu Dhabi
- Travel and Transit services
- Digital Consultancy Services
The sector is currently valued at $27.2 Billion in the UAE exponentially, becoming one of the most attractive business opportunities and the easiest to establish the business in for new players in the market. With the involvement of the government and a consumer market that thrives on online services, the E-commerce industry will continue to grow over the years, benefitting small and large companies.
2. Import, Export, and Logistics
Stating the undeniable fact about Abu Dhabi's corporate sector, it is mainly dependent on acquiring raw materials at the right time to keep the manufacturing and production process churning around the clock. This juncture supports the rapid growth of businesses across the entire Emirati nation, not only benefitting Abu Dhabi but also its neighbouring emirates.
Therefore, since Abu Dhabi dominates trading activities because of its geographic advantage in coastal region occupancy over the Persian Gulf, the nearby regions of the UAE and MENA are dependent on Abu Dhabi for receiving their resources on a timely basis. Thus, this business idea is filled with hustle and equally rewarding profits.
Apart from B2B logistics services, a new emerging service is C2C (Consumer-to-consumer) logistics services. Because of the busy lifestyle of the citizens, it is a tardy task to travel to another part of the city to deliver an item to a friend or relative. Thus, small businesses in the form of inter-city courier services or local transit delivery services are taking initiatives to pick-up and deliver from one doorstep to another.
Don’t tell us you didn’t see this coming a mile away. UAE is popularly known as the infrastructure innovation hub of the world. Be it the awe astounding tourist attractions of Dubai, start-up havens in Ras Al Khaimah or the corporate magnets in the form of industrial parks in Abu Dhabi attracting new businesses every year.
UAE has always been a trailblazer in the field of infrastructure. In the coming years, as part of the Vision 2030, the government of Abu Dhabi will be investing in various infrastructure initiatives such as Tech Parks, Start-up accelerators, Tourist Attractions, Conventions, and Exhibitions and Trade Centres to summit the legacy as a top-notch A-list business destination.
4. Tourism and Hospitality
Tourism is a newly acquired focus for the industry leaders of Abu Dhabi as the industry shows massive potential to earn revenue but very less participation from public entities. Thus, the government has created the Vision 2030 tourism initiative to welcome millions of tourists from worldwide locations to Abu Dhabi. The department of Culture and Tourism, Abu Dhabi, recorded a colossal influx of 10.27 million visitors in the year 2018 fuelling the ambition to set new standards for catering to tourists by providing them with the best hospitality services.
The Need for Professional Support
We at Commitbiz comprise of a team of industry professionals that have catered to several businesses in the UAE with an overall experience of 15 plus years in the Emirati market. Our services consist of business setup in the UAE, company secretarial services, accounting and bookkeeping services, and nominee director services.
We strive to provide entrepreneurs with an overall package of administrative services to simplify their journey from inception to incorporation in the UAE market. Contact us to know more about our services.