Dubai, the United Arab Emirates has always been a favorite destination for businesses. This recent development of the city is seen as a testament to this popularity and it is expected that the city will once again become a magnet for visitors. So how is Dubai Expo benefiting business?
Dubai is a relatively young city – with the same origins as Morocco. The city was only created in the past 50 years but it has already grown into one of the fastest growing cities in the world. This growth was partly due to the fact that the World Trade Center collapsed and the country’s economy suffered severely during the Arab Spring uprisings. However, things have certainly picked up in the tourism department and Dubai is quickly becoming one of the most popular travel destinations around the globe.
Events like the Dubai World Cup and the Dubai World Fashion Festival are held annually and each of these attracts thousands of visitors. In fact, the popularity of these events and the increase in tourist numbers led to the government offering major discounts on hotel and airfare for visitors. Hotels alone were able to attract millions of tourists and the influx of international business has also meant more tax revenues for the authorities. These developments seem to be benefiting not only the city’s economy but also its residents. With the increase in population, there has also been an increase in demand for jobs and rental homes and so the top real estate companies in Dubai is also doing well.
It’s not just the local businesses who are benefiting from these events. Tourists are now bypassing hotels to book flights and accommodation to travel to other parts of the world. This means that more businesses have the opportunity to promote themselves through the international media and this in turn will mean more tax income for the authorities as well as better infrastructure for the city’s roads and public transport system.
The show does run over three weeks and all the major exhibition companies have their own pavilions set up at various locations throughout the city. There are also several temporary exhibition stands set up, which is a lot easier to assemble than permanent structures. Villas for sale in Dubai allow smaller companies to get an exhibition running quickly and ensure they leave nothing to chance – if something does go wrong they are easy to dismantle and relocate. This is very important as the city is still trying to get itself back on track and is dependent on tourism to boost its economy.
Other than benefiting the exhibition companies, the city government also benefits from the show. The more people who come to Dubai, both tourists and local residents, the more tax revenues the authorities will get. They also receive more investment money from various international companies that set up shop in the city. For instance, recently Dubai was chosen as one of the world leaders in the Smart Trade concept and has set up several smart trade zones throughout the city. These zones include car-rental cars, mobile platform service, grocery store chains, restaurants and shopping malls. The city’s economic development is being funded in part by these and other similar programs and they will be able to use the revenues to fund a wide range of projects in the city.
Another way how is Dubai benefiting business? The number of foreign direct investment (FDI) that enters the country through tourism has significantly dropped over the past few years and many fear that this could lead to a slow economic recovery or even decline in the number of tourists that enter the country. However, with more foreign companies setting up base in Dubai, the number of visitors to the country has drastically increased over the past few years. Tourists from western European countries as well as Asia, as well as Latin America, are now making the trip to Dubai for work or pleasure and the numbers are expected to continue growing. Not only is this good news for the economy but it is great news for the local population as well as those who speak English as a second language.
How is Dubai benefiting business through its tourism? In addition to attracting a large number of visitors, the city has attracted a high number of foreign investment companies as well. Many of these businesses have decided to establish their base in Dubai as they are seeing an opportunity to make money quickly in an environment that is stable and growing. Not only does this help to keep wages and salaries high, but it also helps the city to reduce its tax burden on the businesses in the city. It also helps the city to build up its infrastructure, creating more jobs and offering better healthcare services. In addition to tourism, Dubai is investing heavily in other areas such as education, infrastructure and even research and development as it looks to become a player on the global stage.