What are the future prospects for Dubai and Dubai based businesses?

Look I am going to say the prospects are good - but then why should you believe me? I am setting up and incorporating companies in Dubai and if I say the prospects are bad - it would be like shooting myself in the foot, putting my foot in my mouth or a hundred other foot-related hiccups! But don't take my word for it; here is why I think the prospects are good!

1. The World Class City Idea:
When you look at other world class cities like London, New York, Tokyo, Mumbai, etc., you see cities with a 20 million plus population. Dubai is just about 1 million strong. So we have a long period of growth ahead of us. The biggest reason someone would choose to relocate to Dubai is there are no taxes in Dubai. So you keep all your hard-earned money. Add to this that your market is going to grow from 1 million to 20 million over the next 50 years - do you have any other choice but to set up in Dubai?

2.Tourist Hub:
Tourist arrivals have risen year-on-year in Dubai. You would have expected tourist arrivals to fall. But Dubai has always confounded the critics and tourist arrivals are actually rising. Why? Dubai was getting costly, but the financial crash acted more like a "sharp kick" than a heart attack. Instead of destroying Dubai, I think it just corrected Dubai's course.

3. The fittest Survived:
Ain't that a fact? - Every Tom, Dick and Harry was a developer or master developer, or a CEO, or COO or CIO. I even had an 18-year-old in my office once talking to me about transferring billions of dollars into Dubai. Thankfully all the fly-by-night operators have gone bust, but more importantly gone home. The tough companies survived. Why? They streamlined, took a close, hard look at themselves and came out better from the financial crash. I noticed that I get better service and better products at half or less the price I paid two years ago.

4. Dubai doesn't have taxes:
What then? Unlike a lot of the countries reeling from the financial crash, Dubai couldn't buy it's way out of debt. There were no taxes that could be increased and Dubai couldn't issue much public debt. So Dubai's success or failure was going to hang on how hard Dubai fought itself out of the crises. What many people don't realize is that unlike other countries, Dubai could not afford to help ailing or struggling businesses. So the weak ones were left to fail and the strong ones had to fight themselves out of the same hole that Dubai found itself in. And fight we did. Personally, I was travelling all over Europe pitching Dubai to the Europeans and bringing in as much business as I could. So were many other businesses in Dubai. I was giving (and still am giving) crazy discounts to attract new businesses. And guess what? It worked! Business has been steadily improving for the past 5 months.

Why should I start my business NOW in Dubai?

Location:
Two reasons; Location and Price. If you take a world map, Dubai is at the center. This was the first thing that attracted businesses from all over the world was the location - it was easy to get to everywhere else from Dubai. Add a world class airport, a profitable and brilliant airline, cheap hotels, great lifestyle... must I go on? And you have a winning mix. This mix has not changed. The rest of the world took a hit and Dubai suffered as a result. So when things pick up as they are doing now, Dubai comes back into focus.

Price:
More importantly for you, prices in Dubai have dropped. I am paying about 45% less rent than I was about a year ago. My landlord is making the right noises as he nows that were I to move out, I can reduce my rent to about 70% of what I am paying now. He is also willing to hold the newly negotiated low rate for the next five years! That's right!

The choice is simple; you can wait another 2 or 3 years to enter the market and pay a higher price at that time, or you can enter the market now and place strong foundations in the region and ride the next wave that comes along. I am certainly relishing the prospect of the return to the good time.

If you want to look at the prospects for your business in Dubai, why not fill up our Obligation Free Questionnaire and we can look at how to get you started in Dubai?

Source: http://fortunum.com