Dubai: Which Industry Sectors Will Grow?

January 15, 2020

Dubai has been touristic destination for many decades, but over a few years, it took leading positions as one of the top business destinations attracting investors from most prosperous countries of the world. It is true that the emirate’s openness and its support for innovative projects and entrepreneurship have made the city an ideal destination for business investment.

Over the past few years, more than 200 thousand companies have been registered in Dubai which leads to a strong economy and further growth.

According to the recent World Economic Outlook, published by the International Monetary Fund (IMF), Tourism growth is predicted to more than double to 6.6 per cent, up from 3.3 per cent as the Expo 2020 event gets under way, while growth in financial services is expected to pick up to 2.7 per cent, from just 1 per cent this year. A revival in the fortunes of the emirate’s real estate sector is also predicted, with growth increasing to 3.6 per cent, up from 2.2 per cent this year. Growth in the manufacturing sector is set to triple — to 3.1 per cent, up from 1 per cent this year.

From tourism to real estate, Dubai supports almost all types of business activities and 2020 is the best time to start your business in Dubai. Still thinking? Contact us today and we guide you through the process.