DUBAI 8 January 2019: Various sectors are currently gaining tractions now that the Dubai Expo 2020 is just months away from taking place. With millions of people from all over the world forecast to flock the country, there are only two main reasons why––leisure and business.
Home to some of the most coveted infrastructures and luxurious lifestyles that are truly unparalleled, UAE is also fast becoming one of the world’s best business destinations aside from its soaring tourism reputation. The diverse sectors and emerging markets of the country bring endless possibilities to startups and SMEs as they thrive to capitalise on the country’s openness for creativity and innovation.
Here are the top industries that are definitely worth exploring for either investing in or starting a company, which will mostly increase your profits.
E-commerce
In a joint study of Dubai Economy and Visa, the UAE was hailed the fastest growing e-commerce market in the Middle East and North Africa (MENA) region with an expected annual growth increase of 23 percent on average between 2018 and 2022. E-commerce startups are largely benefiting from several methods to transact online, making shopping so much easier at your fingertips.
Real Estate and Construction
The Dubai Expo 2020 alone has been providing the country with huge investments in real estate along with construction that is predicted to increase growth by 6 to 10 percent by 2020, according to the latest KPMG survey. The country will welcome millions of visitors and international exhibitors, which means that the demand for housing and offices will increase as Dubai Expo 2020 is just months away.
Tourism
Long before the most anticipated Dubai Expo 2020, the tourism industry of the UAE is one that keeps growing each year. There is always something new to explore and experience for both tourists and residents. By 2020, the country is expected to welcome 20 million visitors and 70 percent of which are coming outside the UAE. The projected direct contribution of the tourism sector to the country’s economy is set to rise by 4.1 percent per year to AED 108 billion by 2028, according to World Travel and Tourism Council (WTTC).
Technology
Technology is always rapidly evolving and it will undoubtedly bring more innovation and ultra-advanced gadgets to end-consumers just waiting about to unfold by 2020. Tech trends such as mobile commerce, 5G network, and AI (Artificial Intelligence) service are among other things that will continue to impact the way we live. Investors are constantly searching for the next big innovation in the world of technology where they can bet their money on and it’s a risk worth taking if it has the potential to transform our lives.
Logistics
With the large participation of more than 200 countries in the first World Expo in the Middle East, logistic seaports and airports will be at their busiest in 2020. International delegates are expected to import and export goods from almost all over the world, which is a promising forecast for logistic companies to grow exponentially alongside other sectors.
If starting a business is your main reason for visiting the UAE, the time could not be any more perfect as the country is heading towards plenty of advancements, that aim to enhance doing business and bring in more prosperity. What’s more, you’ll be treated with upcoming mega-events and unique attractions all set to launch in 2020.
Note: Article supplied by Decisive Zone, a business setup company.