The economy and business activity in Dubai is currently booming, despite the worldwide recession slowing the construction industry in 2008 things now are rapidly turning around. Historically, the economy of Dubai centred around the oil industry and as the necessary diversifications were made more business opportunities became available for those who were looking to invest in Dubai.
It could be said that the focus of the economy in Dubai is now the tourism industry with world record breaking hotels and stunning tourist attractions resulting in millions of visitors each year, making it one of the top 10 most visited cities in the world. This opens up an array of opportunities for businesses offering products or services to tourists to the city. In addition to this the Department of Economic Development in Dubai has seen a 15% increase in the number of new business licences being registered in 2013 compared to the same period in 2012. This is an indicators that Dubai has a confident market that many are now choosing to invest in.
For those wanting to invest in Dubai you will need to choose a business banking provider offering products and services which are most applicable to your business requirements. With finance being the most important aspect of a business wherever you are in the world you should put a particular focus on the type of account you choose in order to easily run your business.
With expats focusing on what they know it may mean importing products from your home country in order to then trade in Dubai. With lots of strengths and opportunities available it is easy to see why so many entrepreneurs take this route. One of the best ways you can ensure you can deliver your service effectively is by choosing an international business bank with an array of services which give you the opportunity to quickly pay invoices, deal with other currencies and of course have expert staff members who can ensure you will always have any help you need available.
Business is not just booming for those working in tourism or international trade, the development of Free Zones in Dubai such as Dubai Internet City and Dubai Media City have led to businesses in these industries developing in the area. These Free Zones are perfect for the individual entrepreneur or multinational media start ups and they can provide you with the necessary assistance in setting up and company formation in Dubai.