Why Invest in Dubai
Why Invest in Dubai?
Dubai- Land of business! Dubai also recognized as United Arab Emirates is one of the second largest economy of Arab World after Saudi Arabia with a GDP of $377. The major source of the GDP comes from non-oil sectors including IT and telecommunication departments.
Since the last couple of four decades, United Arab Emirates (UAE) has undergone a robust transformation from the small desert economy to fishing and pearl trading with the booming economic sectors like real estate tourism and hospitality as well.
“The biggest benefit of investing here is the fact that Dubai is a Tax Free city with Zero Capital or Income Gain Tax”
Benefits of investing In Dubai
There has been a robust economic growth seen in the last couple of decades. The gross domestic product has also increased from 133.2 billion AED (36.3 billion dollars) in 1993 to 321.8 billion AED (87.7 billion dollars) in 2003.
Booming IT Sector
– The current ongoing investment in different sectors has increased to a great extent as the global spending on IT has picked up to newer heights. It has grown up by 6 per cent to almost $3tn in the previous year.
– The growth of booming IT sector cannot be neglected at any cost. The Information technology sector has really changed the entire face of the market to a great extent.
– The IT sector is also recording a steep 15 per cent year-on-year growth as well. There has been a huge potential for growth of small-to-medium-sized IT companies in the nearby areas.
Ideal destination for businesses
– The area has seen a strong growth in the last couple of years with the outstanding services as like smart phones, disk storage with midrange-volume servers.
– The rapid growth in different sectors has seen significant amount of commercial opportunities for job growth
– The banking sector is also growing at a fast pace and has stabilized the higher oil prices. There has been a growing need for greater storage capacity for digital information.
– The packaged software market is also assumed to grow by 11 per cent in the upcoming fiscal
So, the place has emerged as the best investment hub in the last couple of years.