July Commerce 2013

Dubai Update
Setting Up Business in Dubai - Fjord International Consultancy

Tourism has played a vital role in the growth of Dubai's economy and its importance looks set to continue. Data from the World Travel and Tourism Council shows that the sector's contribution last year to the UAE’s GDP was Dh182 billion and is forecast to rise 4.3 per cent annually to Dh 277.8 billion by 2022.

There are many new construction projects in the sector which look set to contribute to the projected growth figures as well being part of the bid to promote Dubai’s bid to host Expo 2020. These include the Dh 10 billion construction of five linked theme parks by Meraas, while the Marvel-themed IMG World of Adventure – the world’s largest indoor theme park – is to open next year.

In addition, there is the planned Dubai World Central, a new passenger airport and Bluewaters, a new development being built just off the coast of the already hugely popular Dubai Marina neighbourhood. It will feature the world's largest Ferris wheel, the Dubai Eye.

The growth in tourism is reflected by those of visitor numbers. In 2002, 4.7 million people holidayed in the emirate. Last year that figurer increased to 10 million and the Government aims to attract more than 20 million by 2020. Analysts believe that at the current rate of growth, reaching that figure in just seven years is very possible.

"There is certainly room for more growth," said Gaurav Sinha, a travel and tourism analyst. "New routes are being announced by Emirates Airline all the time, which is opening Dubai up to tourists from all over the world.”

Read the full story on The National.

Business is thriving in Dubai but there are still plenty of opportunities for entrepreneurs. Here are five ideas.

The housing market is enjoying a boom as is home improvement. With the rising cost of real estate, now is the time for property developers.

Dubai residents are becoming increasingly conscious about healthy eating. The emirate needs some market gardeners and knowledgeable farmers.

The rise of social media has left some small businesses overwhelmed. Experts who can provide Facebook and Twitter know-how at the right price are highly sought after.

With an expanding choice of schooling options, the city requires consultants who can help pupils and their parents make the right education decisions.

Some companies in Dubai fail to reach customers because they do not understand the needs of their audience. Marketing consultants who can tailor messages for different cultural groups are in high demand.
Recent DTCM News and Other Dubai Events
Emirates Aviation Experience takes off in London
London’s latest visitor attraction, the Emirates Aviation Experience, was officially opened earlier this month by Mayor of London, Boris Johnson, and Tim Clark, President of Emirates Airline.

The attraction takes visitors on an interactive journey into the world of flight. In a UK first, it includes four commercial flight simulators under one roof including two A380s and two 777 aircraft. It can be accessed from North Greenwich Underground station next to the O2. The opening comes just a year after the Emirates Airline cable car came to the Greenwich Peninsular which links south Londoner’s to the Excel Centre. Arab News has the full story.

UAE climbs the Global FDI rankings
The UAE is now ranked 14th in the latest AT Kearney Global Foreign Direct Investment Confidence Index (FDICI). The emirate recorded $7.7bn in inflows in 2011, up 40 per cent from 2010. There are several factors that have contributed to this increase, notably Dubai’s well-developed infrastructure, strategic location, and tax-free economy which which offer international investors easy access to fast-growing African and Middle Eastern markets. Find out more on emirates247.

On 27 June, DTCM had a productive day at the Wales Business Exhibition and launched a competition to win a business trip to Dubai.

How to get around Dubai

The Department of Tourism and Commerce Marketing (DTCM) is offering three companies the chance to win a business trip to Dubai. The competition is being jointly run by the Government of Dubai in partnership with Emirates and Emirates Towers.

This fact-finding trip will offer one representative from each of the three winning companies the chance to explore the exciting business opportunities on offer in the emirate. It is open to small and medium sized companies (SME) who are members of the British Expertise, The Middle East Association or registered with UK Trade and Investment (UKTI).

To receive an application form or for further details on how to enter this competition please email ekakaire@dubaitourism.co.uk or visit either the UKTI website, British Expertise website or the MEA website. To qualify you have to be a member of British Expertise, MEA or registered with UKTI.

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