What Makes Dubai a Top Ranking Business Hub?

Everyone knows Dubai is famed for being one of the world’s top ranking business hubs but have you ever wondered what makes it so?

With more than half of the world’s biggest conglomerates holding offices that operate in Dubai city, it has (in a very short period of time) established itself as a global hub offering a first class infrastructure for visitors and residents.

Dubai offers a range of attractions, a vibrant and culturally diverse society, and with Expo 2020 just around the corner, the growth in financial and business areas shows little sign of ending.

According to Knight Frank UAE office, one of the reasons for Dubai’s success as a business hub is due to logistics; “A third of the world’s population is accessible within a four-hour flight of Dubai and two-thirds within eight hours, making the city a well-placed strategic hub for regional and global investors.”

But what else makes Dubai a top ranking hub?

 

Location, Location, Location

Dubai is the number one business hub in the Middle East, and is strategically placed between the Far East and Europe, making it a central location and easily accessible.

The city has seen an increase in infrastructure, supported by government investment, with expansion and improvements to roads, rail, and air networks, meaning it is even easier to travel and move around Dubai than ever before.

Hospitality infrastructure has improved alongside the travel networks, and Dubai city now boasts more than 100,000 hotel rooms, with 17 hotels added each year. Visitors, who once only caught a connecting flight at Dubai airport, are now staying longer to experience some of the exceptional visitor facilities such as, museums, restaurants, and sports arenas.

 

Local and Global Business Support

The government is supportive of enterprises of any size and Dubai has a hospitable business climate. Tax-free zones and transparent business regulations make for easier trading, while an experienced ex-pat community help provide a skilled workforce.

Dubai is also a centre for learning and study; there are numerous universities and research centres committed to technological and scientific research, with many based in Dubai International Academic City (DIAC). In total there are almost 70 colleges and universities located in Dubai.

There are also free zones, such as, Dubai Healthcare City which hosts more than 4,000 professionals in two hospitals and 120 medical centres, and Dubai Internet City which offers state-of-the-art technology and research facilities.

 

Dubai Association Centre

The Dubai Association Centre (DAC) is an entrance to the world’s fastest growing economies. It was established by the Dubai Chamber of Commerce and Industry, and the Department of Tourism and Commerce Marketing, as a centre from which global associations could expand into the Middle East and beyond.

DAC offers support to companies and associations that wish to establish a base in Dubai. It encourages practitioners within a shared industry or profession to form member based associations and provides a framework for international associations to open regional offices in Dubai so that they can conduct business within the UAE.

This support network has encouraged a budding system in which associations can benefit from centralised experience and buying power, and marketplace flexibility and adaptability.

 

Dubai’s Opportunities

There really seems to be no end to opportunities presented by Dubai. Be it tourism, science, Fintech, translation, engineers or accountants there are economic advantages to having a business base in Dubai.

The government designated special zones are havens for companies that wish to take advantage of the laws intended to encourage free trade, international investment and low taxes.

Service professionals and companies do not pay income or sales tax in Dubai, encouraging expats to stay in the country longer and spend more while living there.

Tourism is, at present, the largest sector (accounting for 28% of the GDP) but business and finance are a close second, with transport in third place at 14%.

 

Dubai’s rise to top Middle East business hub is primarily due to the foresight and planning of the government and Sheikh Mohammed bin Rashid, ruler of Dubai. As a result, since 2006, the emirate’s population has grown from 1.4 million to nearly 2.5 million.

Sheikh Mohammed speaks frequently of his vision to make Dubai the Arab world’s first Smart City, in which every aspect of life is interconnected in a way that improves life – from traffic lights controlled by a single control centre, to services such as, booking a taxi or paying a utility bill, all from the screen of a smartphone.

Vision 2021 (instigated by Sheikh Mohammed) establishes an agenda of national priorities including a world-class heath care and education system, and a knowledge based economic structure that hopes to see the UAE become the first Arab country to send a probe to Mars.

With visions and aspirations as far reaching as this, Dubai is definitely the place to be in the next few years, which is why the Emirate’s population has increased by 134% in the last decade.

If you are considering moving into Dubai, for business or personal reasons, Creative Word can assist with all your language and linguistic needs, enabling a smooth transition and relocation.

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