New York, London, Paris, Tokyo: these cities are undoubtedly top-draw business destinations. But how does Dubai compare to them? According to statistics, consumer confidence is higher in Dubai than all the above-mentioned cities. As the commercial capital of the United Arab Emirates (UAE), the city of gold is a premium hub for multinationals and startups.
Whether you are a multi-national company looking to scale, or you are a startup looking to take off, Dubai may just be the perfect spot. Here are five reasons that back that claim.
Populous and Cosmopolitan City
For every business, numbers count. With a population of over 3 million, Dubai stakes the claim to being one of the populous cities. Unsurprisingly, the city is a hotbed for expats and foreign nationals making it cosmopolitan in nature.
Additionally, there are tons of people with money to spend. As a rich economy, many inhabitants are relatively well-off and are able to spend. For instance, there are about 42,000 millionaires in Dubai alone. Clearly, your business will not lack customers if you get your marketing and advertising right.
Taxes in Dubai? You can put on a wide smile because the UAE has a no-taxation policy with a few exceptions. As such, personal income taxes, value-added taxes, withholding taxes, and corporate taxes are all waived in Dubai.
With a plethora of free zones where you can do business without having to partner with a local, Dubai is a haven for any aspiring business person. Thus, you can do your business hassle-free knowing that no tax-officer would come hounding your business.
If you want to work in any of the available free zones, it is recommended that you work with official representatives in order not to make any misstep. For instance, if you are considering Fujairah – one of the free zones with increasing economic activity – it would be a good idea to work with the official representatives as they can guide you to a successful Fujairah creative city company setup.
Low Crime Rate
Crime cripples businesses. Aside from the general apprehension and heightened tension, crime makes consumers wary of business activity. While there is a lot of riches in the city, Dubai is actually one of the safest places on earth because of its low crime rate.
Over the last five years, crime rates have dropped by 38%, giving the city a relatively low crime index and a business-friendly environment.
Abundance of Opportunities
What’s the greatest show in the world? You might be thinking the Super Bowl or Champions League but for businesses people, nothing quite matches the incredible Dubai Explo. Slated for 2020, the Explo is expected to attract over 25 million people.
Just think of the vast array of business opportunities that presents. Your business may just be in pole position to provide ancillary services to the millions who are expected to flock to Dubai.
The Explo is just one of the many opportunities that Dubai provides. From conferences to networking opportunities, Dubai creates a business-friendly environment that would inure to your benefit.
Businesses thrive on the resources and infrastructure available. From office spaces, warehouses, manufacturing units, transportation infrastructure to residential spaces, Dubai provides a haven for any business to function without glitches.
For instance, the city has one of the largest ports in the world that links to 140 ports in six continents. Just think of the sheer connectivity and ease of access such a port provides.
In a Nutshell
Dubai is one of the best places on earth to do business. The city is ranked the 14th happiest place to live on earth. And when you add the fact that the city has one of the biggest ports worldwide that connects 140 ports in almost all continents as well as a tax-free business zone, Dubai sits as a perfect destination for any business. So if you are looking to start or expand an existing business, don’t look too far away from Dubai.