In accordance to financial experts, leading businesspeople as well as investors, the United Arab Emirate (UAE) obtains all the required qualifications to develop into a global growth hub, similar to other internationally leading growth hubs.
As a result of Dubai's development over the last 30 years, it has transformed into a leading business hub with a strong and diversified economy. Dubai's complete makeover has attracted thousands of people to set up businesses, work as well as live in the emirate. The emirate's ideal location has helped it develop in to the largest re-exporting hub throughout the Middle East region.
Due to its strategic location, which has helped it develop into a leading trading hub, diverse nationalities and all-encompassing environment, Dubai has created a city that welcomes and favors innovation. It is expected that the aforementioned features will aid Dubai in becoming a leading growth hub.
One of Dubai's main benefits is its strategic location as well as being very close to countries that are densely populated.
Investors are attracted to Dubai due to its favorable operational expenses, low logistical rates, top-notch infrastructure, internationally innovative views and liberal principles.
The emirate's business and commercial orientated environment lures businesspeople and investors from all corners of the world. At present, 580 flights are made per week amongst India and Dubai. it is anticipated that the number of flights will surge drastically amongst Dubai and Africa as well as the Commonwealth for Independent States (CIS).
Furthermore, Dubai's trade, tourism, finance, transport as well as industry sectors have marked a steady growth rate over the years. This fact has aided Dubai's economy to grow, expand and diversify significantly. Nonetheless, Dubai's success was not easy as it faced significant challenges throughout the years.
Firstly, due to the emirate's international economy it too is vulnerable to international economic issues, like the real estate challenge Dubai faced after the global financial crisis hit the world.
The UAE attracts both local as well as international investors because of its competitive and diversified market, cost and environmental advantages. While neighboring countries have been significantly influenced, UAE-based businesses have profited from both the international upheaval and economic growth.
The UAE and especially Dubai are viewed as unique safe havens. In light of this, when the region suffers from geographical or political issues, the UAE lures in more regional investments because it is considered as a safe environment. On the contrary, at times when the neighboring countries are doing well, the UAE again attracts more investments due to being a regional hub.