Ryan Mahoney (Dubai, UAE) Explores the Dubai Business Environment in 2021
Dubai has emerged in recent years as one of the world’s premier business environments. Its strategic location combined with political stability, solid infrastructure, lifestyle advantages and ever-increasing prosperity have been drawing in multinational and international companies and business for some time.
Dubai is now operating as a hub of global business and attracting new investment all the time. Ryan Mahoney (Dubai, UAE) works within the property industry and is ideally placed to witness and take advantage of the current boom in new business.
The location of Dubai makes it ideal as a base of operations for any international business. Dubai has borders with many huge local markets, including Africa, central Asia and the wider Gulf area, as well as Europe and the Far East.
Many companies operating internationally struggle with the difference in time zones between the Far East and Europe; by establishing a base in Dubai, these time zone issues can be resolved. There are also geographic advantages when it comes to transporting goods, as Dubai has excellent transport links to many of the world’s largest markets.
People living in Dubai enjoy a relatively high quality of life. Low taxes, low crime rates, impressive infrastructure and a comprehensive portfolio of leisure facilities all combine to make Dubai living an attractive prospect. This leads to a pool of potential employees for businesses in all sectors and key opportunities for professional networking.
As businesses increasingly improve their focus on employee happiness to boost retention, moving operations to a region that offers such lifestyle advantages is a good option. The only downside to Dubai living is the cost. It can be expensive to live in the region, so companies need to factor this in when determining salaries to attract the best employees.
Dubai has a solid reputation for attracting service sector businesses. However, in recent years the manufacturing industry has also taken off. Access to local markets attracts new manufacturers all the time, which in turn leads to new opportunities for all types of business to access the products and materials they require locally.
Other sectors that are currently booming in Dubai include green energy, communications and information, wellness and fitness, and infrastructure. Dubai infrastructure has seen an influx of investment over the past decade or more, resulting in improved industry. Free zones also provide unique opportunities for businesses to benefit from savings on tax liability, creating a more attractive prospect for investors.