Dubai is one of the highest ranked business hubs in the world and a preferred hotspot for the leading business conglomerates across the globe. As per leading industry experts, more than 50% of global businesses have a presence in Dubai already and the number is set to go up in the near future. In a very short span of time, Dubai has transformed into one of the most dynamic business destinations with top-class connectivity, infrastructure and business-friendly reforms along with a highly strategic location.
Dubai has witnessed exponential growth over the last 2-3 decades in sectors like trade, logistics, business and financial services, tourism, hospitality, real estate and more. Dubai was ranked among-st the easiest global cities for establishing a business by the likes of Knight and Frank and other leading industry bodies over the years. The IMF has also stated that the economy of the UAE may soon surpass economies in Germany, UK, Singapore, Hong Kong and the United States over the next decade. Dubai has been witnessing sizable tourism growth over the years and the upcoming 2020 World Expo will put the spotlight firmly on the Emirate from a global perspective.
Dubai becomes a worldwide business hotspot
Dubai has transformed into a major global hotspot for conferences, events, exhibitions and meetings alike. Several global sports personalities have been flocking to Dubai in order to enjoy its top notch sporting infrastructure and the same goes for hospitality infrastructure across hotels, restaurants and other facilities which are right up there with the best in the business. One of the biggest attractions for businesses is the strategic location of Dubai right between Europe and the Far East. It is the major economic center for Africa, Asia, Russia and Europe alike.
Local Business Support
Dubai offers ample business scope for companies of almost all sizes with a friendly and hospitable environment for conducting business. The city is home to several start-ups and big MNCs alike, with the service sector contributing a huge chunk of its GDP. The city is the hub for trade and commerce throughout the Middle East and is home to 20,000+ global companies including offices of more than 120 companies in the Fortune 500 rankings. The Government is business friendly, having ensured the most transparent regulations in the entire region along with tax free zones, a skilled workforce and top-notch physical infrastructure.
Dubai is a fast growing knowledge hotspot with several leading research centers and universities and free zones like Dubai Healthcare City are major achievements. The latter, for instance, has more than 4,000 professionals operating in two hospitals and 120+ outpatient medical centers and diagnostic laboratories spanning 4.1 million sq. ft. Dubai Silicon Oasis and Dubai Internet City are the hotbeds for research, technology and industrial facilities while Dubai Biotechnology and Research Park is the top life sciences hotspot in the region.
DAC has become a Game Changer
The DAC (Dubai Association Centre) has become a gateway for the fastest-growing economies across the globe. It offers the best environment for global associations with regard to expanding industries throughout the Middle East. The Dubai Chamber of Commerce & Industry set up the DAC in collaboration with the Department of Tourism and Commerce Marketing. The Dubai World Trade Centre offers support for setting up apolitical, nonprofit and non-religious professional associations and trade organizations in the Emirate.
DAC is the support system that enterprises require to network, thrive and flourish in the Emirate. DAC helps international associations to set up regional representative offices here for conducting business throughout the UAE and other markets. Centralized facilities for businesses make Dubai highly attractive for the global business community. If you need help with setting up your company in Dubai, auditing, VAT return filling and registration and accounting among other essential services, GCC Filings is your best option.