As the business and industrial hub of the United Arab Emirates, Dubai is a feasible location to start a business. The city’s growth within the past 30 years from an oil-dependent desert to one of the most viable business locations in the world is remarkable. Several entrepreneurs and investors have since moved to Dubai to establish and invest in businesses. The emirate’s commitment to tenable developments, the favorable government’s corporate policies and the economic diversification.
As an entrepreneur looking to start a company in Dubai, the process of selecting the right business may be daunting and intimidating; however, in this article, we have outlined some profitable sectors that present opportunities and potential gains for you. These sectors include:
● TOURISM SECTOR
The city of Dubai is referred to by many as one of the world’s most attractive tourist destinations. Hence, it is no surprise that it attracts millions of tourists every year. Several world-class hotels and resorts offer a perfect mix of traditional culture and urban scenery. Entrepreneurs seeking to start a business in Dubai can consider working directly or indirectly in the tourism and hospitality sector.
● RETAIL SECTOR
Dubai offers an evergreen opportunity and viable location for world-class trading. With more than 70 shopping malls, venturing into retail in Dubai is a great and profitable business idea for entrepreneurs.
● HEALTHCARE SECTOR
The average person living in Dubai is concerned about their health status. In addition, Dubai is a recently developed area; healthcare facilities will thrive. These attributes make the city a viable location for healthcare business.
● TRANSPORTATION SECTOR
Tourism is at an all-time high in Dubai. Due to the massive tourism sector, the prospects of the transportation business in Dubai are very high. From local taxi services to trans city transport services, the opportunities are numerous and ever-growing. Hence, the transportation sector is bound to be profitable to any entrepreneur looking to venture into it.
● EDUCATION SECTOR
About 12 per cent of the Dubai population are school children. The percentage of these school children will increase in the future and 75,000 additional student services are the estimated number of services expected to cater to this need. More schools, teachers, truancy officers, student and parents advocates, student mediators, case managers, cleaners and distributors of resources will be needed making the education sector a profitable business sector for entrepreneurs.
● REAL ESTATE SECTOR
The Dubai real estate sector is an ever-increasing/ever-growing number of commercial ventures, aviation ventures, housing ventures and industrial ventures. The World Expo 2020 hosted by Dubai has proven to be an added advantage to the Dubai real estate sector as one of the biggest economic sectors in Dubai. Thus, an entrepreneur who ventures into the Dubai real estate sector would have made a wise choice.
● FINANCIAL SERVICES SECTOR
The financial services sector in Dubai is equally a well-developed sector with the backing of an established and integrated financial structure. There is also a constant demand for bookkeeping services, accounting services, auditing and other financial services in Dubai making it a profitable business sector for entrepreneurs intending to establish a business in Dubai.
● ADVERTISEMENT AND DIGITAL MEDIA SECTOR
The advertising sector and the digital media sector are ever-growing sectors in Dubai. Advertising professionals in Dubai have an advantage and an opportunity to make profits due to the booming economic sector and a large number of entrepreneurs and investors venturing into businesses in Dubai. An entrepreneur that ventures into this sector would be making a wise choice. One could venture into Brand growth, 3D modelling, media purchasing e.t.c.
Other sectors include security, freelance, construction, restaurants, nightclub, courier and jewellery making.