Booming Business Industries in Dubai

As said earlier, the Emirate’s economy is progressive, vibrant, and diverse enough to offer equal opportunities for all industries in Dubai. So, some industries have displayed better performances and faster growth than others.

Let us have a look at the booming opportunities in Dubai.

Business Opportunities in Dubai

The following are some of the best business opportunities in Dubai. 

Trading - One of the Best Investment Opportunities in Dubai

With meager customs duties, zero personal taxes, corporate taxes, capital gain taxes, and free zones that allow 100% ownership, Dubai is one of the world's most profitable places to do trading business. The government further helps entrepreneurs and investors by easing the regulations and reducing the paperwork required in companies' formation.

Food and Beverages

The food and beverage industry falls under the booming business industries of the UAE. At the international level, the F&B industry stands as the second largest industry in the world. 

To start a restaurant, a restaurant license in Dubai is required to be held by the business owner. Similarly, cafeteria licenses and food truck licenses need to be held by the owners who are planning to start a cafeteria or food truck business in the UAE.

Financial Services

Because there are many large-scale industries in the UAE, there is a proportionately massive demand for professionals that provide financial services – such as bookkeepers, accountants, and auditors. If you have a solid background in any of these economic specialties, you will make lots of profit by setting up a business that offers financial services to companies in the UAE.

Automotive and Aerospace

The automotive industry stands as no exception and has become one of the key drivers to boosting the economy. Even police cars prevailing in Dubai turned out to be luxury vehicles dealing with high performance. 

The aerospace sector stands as one of the top six focused areas in Dubai Industrial strategy 2030, with an expected contribution of 2.3% towards the GDP of the country. 

Oil and Gas

The next industry that attracts the attention of investors is the oil and gas industry. The UAE stands as a member of the Organization of Petroleum Exporting Countries (OPEC) and Gas Exporting Countries Forum (GECF) and has been a prominent player in the international market. 

Manufacturing

The manufacturing industry in the UAE is a growing one as it contributes to a great extent to the economy. The manufacturing industry has got different sections under its umbrella that covers the manufacturing of:

• Metals
• Building Materials
• Petrochemicals and Chemicals
• Pharmaceuticals
• Food, Beverage and Consumer Goods
• Aerospace and Defense Equipment
• Industrial Equipment.

Marketing and Advertising

The demand is high, and it turns out to be a niche market in the region, which is an excellent chance for business owners, marketing professionals, and even freelancers who are looking forward to setting up a marketing or advertising consultancy business. You can quickly start your business after obtaining the advertising agency license in Dubai, which will be issued by the UAE Government Authorities.

Information Technology

The region of Dubai deals with Information Technology turns out to be a domain where innovation has been continually growing. This continuous growth has given birth to new technologies, whereas the old ones get either updated or become obsolete. 

The information technology and communication sector contribute around 4% to the overall GDP of the country.

Construction & Real Estate

The Emirati buildings are appreciated for their beauty and structure. The region holds the Burj Khalifa, one of the tallest buildings in the world. Apart from this, the region has got multiple projects that leverage construction and real estate to a great extent. 

Business investors who are looking out to expand their business or invest in the construction sector can choose the UAE as their ultimate business ground.

Agriculture

As stated in the previous article, the UAE boosts in the Food and Beverage sector; it also lacks nowhere when it comes to the agricultural domain. Technology plays a more significant role here as it has blended well with the agricultural domain, which helps in keeping proper track of farm production. 

Parallelly, the region is also focusing on organic farming and has taken several steps to encourage agricultural technologies.

Healthcare & Pharma

The next sector in the line stands as Healthcare and Pharma Industry. The region has made considerable investments in R&D, Innovation, and Technological Advancement to stand out in the Middle East Market. 

The UAE holds partnerships with the following countries regarding the Pharma Industry: Germany, the USA, France, the UK, and Switzerland. Parallelly, the country also contains a good export market to the following nations: Saudi Arabia, Lebanon, Iraq, the Sultanate of Oman, Egypt, and Others.

Tourism & Hospitality

The industry is at the edge of reaching a paradigm shift and has come up with different strategies like Dubai Tourism Strategy 2027, which will increase the probability of the sector making a direct contribution of Dh 108.4 billion by 2028. 

Logistics – One of the Best Business Opportunities in Dubai

To enhance it to the next stage, multiple big-ticket infrastructures have been built, such as AL-Mafraq-Al Ghuwaifat Road with a 1200km rail network.  To provide more flexibility to the logistics sector, a separate free zone named Dubai Logistics City has been set up in Dubai, which helps investors to set up different business entities in the region. 

Talent Identification and Management firms: 

Dubai has one of the best Human Resource and Talent management consultancies. Laimoon and Social Dice are some of the talent management companies and solutions selected based on 360-degree profiling. Talent identification and management business setups are certainly an area to explore.

Import and Export – One of the Best Among the Dubai Investment Industries

The business hub of the UAE in Dubai. UAE has introduced an economic diversification plan to attract several entrepreneurs’ and traders to invest in the import and export business in the UAE.  Dubai is one of the major importers and exporters of trade and goods in the UAE. 

The government has implemented various policies and plans to help these emerging business owners to invest more in the trading industry of Dubai.

Event Management Business

The event management business is one of the most booming business industries in the UAE. Dubai, also is known as the event capital of the UAE, has attracted a lot of attention from budding investors and entrepreneurs.

Dubai is the city for all kinds of business setups. Feel free to contact us if you need any help or advice- we are glad to help.