Dubai is one of the most popular places for businesses to be. It is a thriving international hub with tax-friendly policies, and an outstanding social and economic infrastructure. This is why so many entrepreneurs have set up their business in Dubai.
Dubai has been a hotspot for doing business, so to help you get started the city is estimating what will be the top 5 new trends in 2022.
Explore the top 5 industries for new businesses in Dubai.
1. Dubai Import & Export Industry
Setting up a business in a free-zone such as DMCC can help you integrate more smoothly into Dubai's international trade system and reach economies of scale.
2. Dubai Healthcare Industry
The UAE healthcare sector is forecasted to generate AED 39.4 billion by 2025. Pharmaceuticals and Medical Equipment is recognized in Dubai’s Industrial Strategy 2030 as a priority sub-sector in the city of Dubai.
Healthcare investors should consider three areas when investing in Dubai, including IVDs, diagnostics and therapeutics.
HEALTH TECH INNOVATION - A large section of Dubai's health strategy focuses on the forefront of technology, emphasising cutting-edge innovations and automation.
HEALTH TOURISM - Even though healthcare travel bans have had a negative effect on the industry, it has hit back in other ways and is expected to reach 19.5 billion in 2023.
LOCAL DEMAN GROWTH - Dubai will work to accommodate their population by expanding the healthcare system over the next six years. This is a result of an increase in demand with the growing population.
The healthcare industry in Dubai has been building for long time and there are a lot of potential opportunities for new business ventures.
3. Dubai Real Estate Industry
Dubai is one of the top destinations for business/expatriate living. Visitors make up 70% of the population and it is considered the #1 destination city. There are many different opportunities, including real estate development, property brokerage and management.
Dubai’s real estate sector is transforming by promoting one of the most advanced technologies in real estate – PropTech. By digitizing the process, PropTech is more efficient for businesses and offers improved-client experiences by making use of virtual reality, online property listings and automated payment systems. This will be a big game-changer for this industry and offers additional opportunities for new players entering the market.
4. IT Consulting
The Dubai government is working to become the world’s smartest city by 2022 with its progressive technology initiatives and offers. These have attracted tech-based businesses and entrepreneurs, which has strengthened Dubai's economy.
Dubai’s free zones provide start-ups with opportunities to grow their ventures. Google for Entrepreneurs has recognized the advantages of Dubai and the presence it has in its free zones.
5. Dubai E-Commerce
Dubai has a booming retail e-commerce market and leapt past $4 billion in 2020. The growth is largely due to digital transformation. COVID-19 was an important catalyst for the growth of digital commerce in Dubai, as it took place during an economic downturn.
Why did Dubai have such a high turnout in e-commerce?
One of the factors contributing to Dubai's e-commerce growth is their support for initiatives such as smart government and new industry developments. This includes increased convenience for shoppers by expanding traditional shopping with digital options and even opening a business remotely in Dubai, which has lower tax rates.
In order to have an e-commerce business in Dubai, you can do so remotely because of the low tax rate. There are many machine learning initiatives that help with logistics and security for a more effective market.
If you want to set up a business in Dubai, it will only take less than a week.
Get in touch with Adler & Partners to get started with setting up your business in Dubai. We will help you through every step of the process, from drafting your legal documents to facilitating your bank account set-up. Contact us today to see how we can help you!