With Dubai emerging as one of the World's most rapidly growing cities, Dubai is on its way to hosting Expo 2020. Due to the global pandemic, the World's largest gathering will be held in October 2021 and end in March 2022. The Expo is aimed at creating new business opportunities across the globe over the next six months.
EXPO 2020: A chance for Business Investors
This event will bring together more than one hundred and ninety countries, which will result in several business partnerships across borders. Various business industries are now open to being established as a result of the Expo taking place.
Top 10 Businesses to start at Dubai Expo 2020
In the UAE, investors have a wide range of options for starting a business. However, choosing a company to start could be confusing. If you wish to start a business in Dubai but are unsure about the domain, you can select one of the top ten businesses from this list.
10 Businesses to start at Dubai Expo
1. Tourism & Travel Business
Among UAE's most influential sectors are tourism and travel. Analyzing a report done by Expo 2020, 25 million visitors are expected to attend, resulting in a significant transformation of the tourism industry. Getting a tourism license from the Dubai Tourism Authority is the first step towards starting a travel and tourism business in Dubai.
Investors are motivated by several reasons to invest in this industry. If you've been thinking of starting a tourism business in Dubai, then now would be an excellent time to do so.
2. Hotel (Hospitality)
A rise in tourists will also lead to an increase in tourism-related services. Considering the high demand in the market, starting a hospitality business could be a viable business idea. Reports say 27,000 additional hotel rooms were already added by 2018, and 91,000 rooms will be built by the end of 2019. The new hotels will provide accommodation for 25 million visitors annually.
In conclusion, the GCC hospitality market is about to experience a massive wave of change after the 2020 Expo. The hospitality demand is on the rise. Tourism is a critical component of Abu Dhabi's economic development. If you are interested in the same, consider starting a hospitality business in Dubai at this moment.
3. Food & Beverages
The food & beverage industry is the next drive to face drastic changes alongside the tourism and hospitality industries. The UAE has everything from small hotels to food trucks and even large restaurants. Business investors who wish to start a food business in Dubai can take advantage of this unique opportunity to serve this vast audience with high-quality food.
An analysis published by KPMG shows that the Food and Beverage Industry is on track to grow exponentially. 30,000 sqm of the area will be devoted to Food and Beverage outlets at Expo 2020 Dubai. Each hour, 85,000 meals should be served according to the count. You can learn what it takes to start a restaurant before Expo 2020 with the information listed below.
- Brand refresh and 50% improvement in operations
- The development of 38% of the new brands is underway
- The latest market and geography coverage will increase to 38%
- Brands expand their networks by 42 percent
Hence, the Expo provides a great deal of opportunity. It is an excellent time to start your hotel or restaurant business in Dubai, whether you are an entrepreneur or a business owner.
4. Cleaning and Maintenance
During Expo 2020 in the Emirates, there will be a massive demand for the cleaning industry. A substantial shift of 275% is expected in the cleaning and hygiene industry by the end of 2020, going from AED 80 billion to 300 billion. The need for the industry is expected to increase in hotels, exhibition centers, shopping centers, and other commercial and residential projects.
There are, therefore, many opportunities for entrepreneurs and investors to open a cleaning company in Dubai. One of the most critical factors you need to consider is that a cleaning license is required to run your company legally.
5. Entertainment Business
Entertainment in Dubai is on the verge of a significant shift. World population gathering under one umbrella will change the entertainment industry significantly. An industry report estimates that Dubai Theme Parks will generate $5billion by 2021. More than 45 million visitors are expected to visit the sector by 2021.
In 2018, Abu Dhabi saw the opening of Warner Bros.' indoor amusement park. For business investors looking for opportunities in Dubai, the statistics mentioned above provide many options. Do you plan to start an entertainment or leisure business in Dubai? It would help if you now got your business idea off the ground.
6. SMEs ( Small and Medium enterprises)
SMEs will benefit significantly from Expo 2020 as it will have a significant impact on them. Reports show that over 90% of business registrations in Dubai are SMEs. Small and medium-sized businesses will contribute 40% to Dubai's economy by 2021.
Companies like Dubai Properties, Emaar, DAMAC, etc., are large business entities established in Dubai that encompass thousands of direct jobs and millions of indirect employment opportunities. Expo 2020 presents the following options for SMEs:
- Establish a relationship with clients and customers
- To gain an advantage in the market
- Develop strategies to increase the brand's value, etc.
Considering the above points, the SMEs can use Expo 2020 to transform their market and take their business to new heights. Take the steps now to incorporate your SME in UAE if you hold the idea.
7. Engineering Field
When it comes to engineering creations, Dubai sets the standard. It turns out that engineering is a broad field, including a wide range of different segments such as aviation, computing, construction, energy, healthcare, defense, oil and gas, telecommunications, etc.
In addition to all the other industries, Expo 2020 will prove essential for the engineering industry. You will have many opportunities to excel in your business by dealing with the engineering industry.
8. Real Estate
Expo 2020 could bring in more business entities specializing in various sectors, boosting the real estate market. As a result of developing commercial and residential complexes, real estate property will be necessary to establish the roots of their businesses.
There is a massive demand for Dubai properties. Reports indicate that more than 59,800 are scheduled to be delivered in 2019. This presents investors with an excellent opportunity to establish a real estate business in Dubai.
9. Construction
A new demand for commercial and residential properties will be created by the partnerships that will take place at Expo 2020. In this way, Dubai's construction business has more opportunities to engage in more projects.
Pre-expo, AED 25.7 billion is expected to come from the construction sector. A construction license from the Department of Economic Development (DED) Dubai is required to conduct your business legally.
10. Consultancy Services
As more and more companies in Dubai expand and earn higher profits, they require consultants with marketing and finance backgrounds. Freelancers and subject matter experts establish consultancy firms to offer effective services to clients.
By 2021, we will see an increase in the number of business entities, increasing the demand for consulting services. A consultancy license is required if you plan to start a consulting firm.
Conclusion -
Briefly, Expo 2020 has provided an excellent platform for business organizations to establish themselves. Dubai is the perfect place to start a business, no matter how small or big the venture is. Suppose the formation of a company is being undertaken in a foreign country. In that case, there will most likely be special documentation requirements to follow. Business consultants can help you navigate the process more quickly by standing by your side as a guide and guide.
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