Dubai
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Dubai is the most populous city in the United Arab Emirates (UAE) and the capital of the Emirate of Dubai. Located in the eastern part of the Arabian Peninsula on the coast of the Persian Gulf, Dubai aims to be the business hub of Western Asia. It is also a major global transport hub for passengers and cargo. Oil revenue helped accelerate the development of the city, which was already a major mercantile hub. Today, less than 5% of the emirate’s revenue comes from oil. A center for regional and international trade since the early 20th century, Dubai’s economy relies on revenues from trade, tourism, aviation, real estate, and financial services. According to government data, the population of Dubai is estimated at around 3.38 million as of January 2020.
One of the decade’s most progressive cities, Dubai’s growth has been characterized by great economic transformations. Business-friendly policies and strategic investments in ultra-modern infrastructure create a high-quality business environment that makes Dubai the center of Middle East economy. Iconic projects like The Palm, Burj Al Arab, and The World reflect the unique mindset and vision of Dubai.
Dubai’s safety and cosmopolitan lifestyle is well-known. For four consecutive years, Interpol has ranked Dubai as the safest city in the world, where crime is virtually non-existent. Meanwhile, Dubai modern lifestyle has set it apart from the conservative perception in the region. Dubai is now recognized as a favorite holiday destination as well as a centre of business excellence. The presence of Fortune 500 companies already in Dubai, like IBM, Microsoft, Oracle, and Cisco, attests to the region’s stability.
Factors which contribute to making Dubai the fastest-growing city in the world are:
- 10-year GDP growth rate of 8%
- Per Capita Income over $20,000, among highest in the world
- 100% ownership in free zones
- No foreign exchange controls, trade barriers or quotas
- No Corporate and Income Tax
- Diversified economy - Oil and Gas sector contributes only 6% to GDP
- Access to a huge talent pool of 13.8 million skilled workers
- Expatriates constitute over 75% of UAE’s population
- Excellent facilities for leisure, sports, education, shopping, and healthcare
- Internationally renowned sports facilities include golf, tennis, water sports, horse riding, dune driving and sand skiing
Free Zones in Dubai
- Dubai Airport Free zone (DAFZ)
- Dubai Auto Zone (DAZ)
- Dubai Biotechnology & Research Park (DuBiotech)
- Dubai Cars & Automotive Zone (DUCAMZ)
- Dubai Flower Centre (DFC)
- Dubai Gold and Diamond Park (DGDP)
- Dubai Healthcare City (DHCC)
- Dubai International Academic City (DIAC)
- Dubai International Financial Centre (DIFC)
- Dubai Internet City (DIC)
- Dubai Knowledge Village (DKV)
- Dubai Logistics City (DLC)
- Dubai Maritime City (DMC)
- Dubai Media City (DMC)
- Dubai Multi Commodity Centre (DMCC)
- Dubai Outsource Zone (DOZ)
- Dubai Silicon Oasis (DSO)
- Dubai Studio City (DSC)
- ENPARK
- International Media Production Zone (IMPZ)
- Intl. Humanitarian City (IHC)
- Jebel Ali Free Zone (JAFZA)