New Company Formation in Dubai is on a spike with the Expo 2020 nearing. The Expo 2020 is to create significant economic growth in Dubai and will lead to rising business opportunities.
The Expo 2020 will act as a platform for investors, start-ups, entrepreneurs, innovators, academicians, tourists to experience the latest advancements across the world in the field of technology, transportation, communication, etc., all under a single roof.
New Business Registrations is on a Growth Spike
Going by the Business Registrations growth in Dubai for 2019, there is a 6% rise in new Business Registrations compared to last year.
According to the Ministry of Economy’s National Economic Register, a total of 32,256 New Business Licenses were issued in the period of Jan-Aug 2019. There are a total of 572,616 Business Permits issued in the UAE until Aug 2019.
How are Businesses getting ready for the Expo 2020?
Businesses are looking forward to receiving the Expo 2020 crowd in full readiness. It is expected that more than 25 million people will be visiting Dubai for the Expo.
Businesses are equipping themselves in the following areas to confront the Expo 2020 and make it a huge success.
1. Developing Knowledge
Companies are developing new products and services to attract the incoming Expo 2020 visitors.
The Expo 2020 will be a perfect venue for companies to tap into the new audience base and pitch their products and services accordingly to boost sales.
Being a thought leader in your field and proposing new ideas & projects to the visitor and investors will result in getting a prospective funding or long-term partnership to set up a business in Dubai.
2. Employee Training & Recruitment
The companies are training their employees about their new product and services, customer service practices, event management, etc.
It helps in effectively catering to the estimated 25 million visitors coming in for the Expo.
Also, there will be a requirement for additional staff to cater to the demand from the Expo 2020.
Hence, a long term strategy and effective employee management system have to be in place to meet the upcoming demand.
3. Strengthening the Digital Presence
To tap into the visitors of Expo 2020, companies are expanding their digital reach by being actively present across various digital channels like Google paid advertising, social media, website promotions, forums, etc.
There are enormous opportunities that will be arising from the upcoming event.
To ensure the business can be easily found and contacted, companies have to be present digitally and the content related to the Expo 2020 must be made available easily.
Dubai Expo 2020 – Gateway to the Growing Business Opportunities
The theme “Connecting Minds, Creating the Future” is gaining huge popularity. The Expo 2020 aspires to become a platform that brings knowledge, innovation, and opportunities for everyone.
Dubai is an investment hotspot for both small start-ups and major corporations.
The Expo 2020 will be perfect for businessmen, entrepreneurs, innovators, artists, tech pioneers, academicians to establish their strong presence in the region.
According to estimates from Jones Day Research, The Expo 2020 is expected to generate up to USD 23 billion in revenue between the period 2015-2021 (Based on the total spending by Government, participants, visitors, commercial activities related to the event, etc.).
In addition, foreign investments in retail, hospitality and real estate are expected to generate another 150 USD billion in Dubai and the wider UAE for the period 2015-2021.
The Expo 2020 will attract the best minds and technologies from a wide range of fields across the world.
Expo 2020 – The right time for Business Setup in Dubai
There is a rising demand for certain industry sectors. Especially the hospital, food, beverage, medical, eCommerce, retail, travel and tourism, real estate and transportation.
Businesses are aiming for expansions and supply chains are to expand to meet the demand from the Expo. The Expo 2020 is expected to act as a catalyst and trigger growth in many of the industry sectors.
It is aimed at pumping in significant investment in the region through foreign investment. As a result, a more global workforce will be moving in and setting up new businesses here in the UAE.
There no other perfect time for business setup in Dubai. To tap the full potential of Expo 2020, it is best to set up your store in Dubai at the earliest.
It is anticipated that major technology, infrastructure, and business change is to take place in the region due to the Expo 2020.
Expo 2020- Strengthening Dubai as a Top-Class Business Centre
The Expo 2020 will strengthen Dubai’s position as the Trade & IT hub of the Middle East and a major business center of the world similar to London, Newyork, Shanghai, etc.
Expo 2020 is expected to create new frontiers in terms of trade lines, tourism activities, construction, and real estate.
There will an increase in highly skilled jobs in smart transportation, sustainable energy, communication, etc.
To entertain the heavy tourist flow to Dubai, the government of Dubai is all set to launch massive tourism projects.
The tourism infrastructure is expected to serve the Expo 2020 audience with extravagant tourism experience.
Expo 2020 – A Platform of Opportunities
Dubai government has announced a reserve of 3% of total expected expenditure in 2020 to support the objective of making Expo 2020 a huge success.
Currently, all focus is on the success of the Expo 2020. The three-year budget for the government of Dubai for 2020-2022 was released and is aimed at raising people’s happiness and stimulating entrepreneurship.
The Expo 2020 will invite a large number of investors. There is no other perfect platform for entrepreneurs and start-ups to pitch the business ideas that will invite global investors to fund them in their projects.
Most of the investors would be interested to know new product ideas and innovations across technology, smart transport, cloud computing, cybersecurity, sustainable energy, biodiesel, wind energy, and many more.
The Expo 2020 is going to be a large scale investor platform driving huge business opportunities, and long –term business establishments creating new business arenas in the field of smart transportation, communication, and technology.
To know more about starting a business in the UAE, talk to our expert business consultants today!
Contact: Aurion Business Consultants