Industries worth exploring in 2020 in UAE

Posted by Simna N.
2
International Trade & Business
Mar 2, 2020
901 Views

Many business sectors in the UAE are rising in popularity because of the Expo which is going to take place in the country. It is estimated that 25 million visitors are expected to travel to the country in relation to the expo. This huge influx in visitors will positively impact the businesses of different sectors. Apart from the tourism sector which is gaining popularity, the country is also home to some of the tall skyscrapers and luxurious brands. Startups, new businesses, and entrepreneurs are utilising the umpteen benefits which the government offers in terms of its flexibility and openness to start a new business in Dubai.

So here are the businesses worth exploring in the UAE in the year 2020.

Technology

Technology is one sector that is ever-evolving. Without a doubt, Dubai is on top of the game. They introduce innovations that give a better user experience be it in AI, 5G network, mobile commerce, etc. One of the biggest examples is the latest AI-powered medical center opened in Dubai. People can get their medical tests and visa stamped, all in 30 minutes. They are working constantly to improve the user experience of the public. They are venturing into innovative fields that will enhance the public's experience. 

E-commerce

E-commerce is the fastest growing industry in the UAE according to the joint study of Dubai Economy and Visa. It is expected that the sector will grow by 23% between 2018 and 2022. With the latest innovation in the e-commerce sector, the industry itself is facing an uplift. The use of AI and social e-commerce is making the whole experience of shopping online a personalised experience for the user. Here is a guide to get an e-commerce license in Dubai.

Real estate and construction

As per the latest KPMG survey, investments in Dubai real estate and construction are expected to grow by 6-10% in 2020. The country is preparing itself to accommodate the huge number of visitors who are going to visit the country for the Expo 2020. This is a favourable time to invest in real estate and construction sector. Hotels and holiday stays are going to be in demand by the mid of 2020. 

Logistics

Logistics is a promising sector because of the increase in cross-border trading between different countries and the UAE. Especially with the expo 2020 many goods are going to cross the borders and logistics company is going to experience a boom. New logistics hubs are expected to open in the UAE in order to improve the transportation of goods and materials. 

Tourism

Tourism has always been the biggest source of revenue for the Dubai government. And it is only going to double in the coming years. The government is constantly bringing in new attractions in the country. It always gives tourists as well as residents something new to look forward to when traveling to Dubai. Some of the new attractions in Dubai are Dubai frame, Bollywood park, IMG world, etc. They always bring in innovative experiences for the public. The projected direct contribution of the tourism sector to the country’s economy is set to rise by 4.1 percent per year to AED 108 billion by 2028, according to World Travel and Tourism Council (WTTC).  

2020 is the right time to invest in the UAE with all the technological advancements which the country offers. Now that you know the top sectors that are going to dominate in 2020, you can start your business in Dubai with some good foresight into the future. 

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