Dubai is growing rapidly. Reports suggest that the United Arab Emirates is set to achieve an economic growth rate between 3~5% in the year 2025. There are many reasons for this. This is the city of innovators, entrepreneurs, and investors. Every investor wants to invest in Dubai so that they can leverage the facilities and advantages the city offers.
We know that Dubai is the busiest yet favourite business hub in the world. Dubai has built an impactful reputation with smart planning, strong leadership, and other favourable aspects. The question arises: What will be the future of Dubai if this growth rate continues to perform well, and what opportunities will be created for entrepreneurs and investors?
Let's examine Dubai's economic prospects and the industries that are expected to grow at the quickest rates in more detail.
Technology and Innovation
This is an era of tech and technology. As Dubai is one of the world's most technologically advanced cities, it is evident that the IT industry will experience a boom in the coming years. The city is solely investing in AI, blockchain, and smart services. To attract more tech firms and grow in this field, the authorities have already designated particular zones for seamless development.
Tourism and Hospitality
Apart from business purposes, Dubai also tops the chart among the favourite holiday destinations. Data suggests that more than 80% of people in Dubai are expats or migrants. The number of visitors coming to Dubai for vacation is increasing rapidly. This will be the core reason for the growth of the Tourism and Hospitality sector.
The authorities are also making a 100% effort to make things easy for tourists and offer many lucrative incentives. Hotels, restaurants, tour & travel companies will continue to grow in the coming times.
Real Estate
The real estate industry could be another growing sector in a few years. Whenever one thinks about Dubai, they think of tall buildings, high skylines, and big projects. The number of HNIs is also increasing rapidly, which means more construction projects and opportunities for real estate businesses. This isn't limited to homes and houses, but also applies to office spaces, hotels, and shops.
As the city continues to develop, people who invest in property and real estate businesses can expect to witness significant growth.
Healthcare Services
As the population increases, the demand for a quality life also grows. This includes good transportation, education, and, most importantly, top-class healthcare services.
Dubai is constantly working to fill every small loophole to offer the best to its people. In this regard, healthcare service industries are already making a strong leap and are expected to continue growing. Since the COVID-19 outbreak, people are more focused on their physical and mental health. This brings more opportunities to those associated with medical services.
E-Commerce & Online Retail
In the digital world, access to numerous products and services has become increasingly easy. And this only became accessible due to booming e-commerce businesses. Online shopping is growing rapidly worldwide, including in Dubai.
Nowadays, people are more focused on saving time; hence, they buy groceries, clothes, and other essentials from online shopping websites. As the surge of technology shows no signs of slowing, starting an e-commerce business in Dubai is a smart move. A new platform or app gets released nearly every day. If you have a service or product for online marketing, it's a great opportunity to establish a business in Dubai.
Want to launch your business in Dubai’s booming market?
Whether you are new to the business, an experienced entrepreneur or carrying a legacy, it’s always a good idea to take a step that profits you from day one. Making a smart business move in Dubai, particularly in the given industries, can accelerate your organisation’s growth speed and help you achieve your dream faster. Throughout the entire process of setting up this business, Markai Corporate Services is with you from start to finish.
We make it easy for you to set up a company in the business hub of Dubai with ease, so all the pain of obtaining a license and locating that perfect site is taken out of your hands while you focus on growing the business. Connect with Markai to add your company to the list of growing businesses in Dubai.
