During the last several years, Dubai has shifted its economy from an oil-based one to a non-oil one, and thus giving room for the development of other industries. Its geographical location also permitted the development of a few industries which quickly became very attractive to foreign investors. The Government also favored foreign investment, especially in Dubai which is now renowned for its free zones. Industries like real estate, tourism and the financial one have soon become some of the most attractive industries in the Emirate.
In the recent years, other industries have risen, as the Dubai Government has started to pick up on the international trends which provide for the development of the research and development (R&D) and the innovation sectors. These two segments are currently becoming some of the most attractive sectors in Dubai.
Apart from the above mentioned industries, Dubai has invested a lot in the development of the transportation industry, especially the aviation sector. Currently, this segment is very attractive to foreign investors due to the infrastructure which permits easy access to different parts of the world. Also, this industry has created a large number of jobs which attracts a large number of foreign workers and thus ensuring a highly-skilled workforce. All these elements have contributed to the transportation industry to become one of the most appealing in the Emirates.
Our Dubai company registration agents can offer more information on governmental programs to support the development of the transportation industry.
Another industry to have risen in the last few years is the Dubai retail sector. With such a developed tourism industry which attracts some of the richest people in the world, the development of the retail industry, especially its luxury segment has become one of the most profitable industries in Dubai. Foreign citizens traveling to Dubai are interested in buying jewelry and other valuable products enabling retailers from all segments in the retail sector to earn significant incomes.
If you are interested in opening a company in one of the most attractive industries in Dubai, do not hesitate to contact our local company formation representatives.