Business & Economy
Dubai Schools – A New School Model
In the recent meeting organized at the Executive Council at the Dubai Police Academy, Sheikh Hamdan launched ‘Dubai Schools’, a new school model that provides an innovative school model offering high-quality education at an affordable cost. The project also creates a new Emirati schooling system that provides a high standard of education rooted in national values. While preparing students for the requirements of the future job market, the new school model also seeks to deepen their Emirati, Arab and Muslim identity.
The new school model that will enrich Dubai’s educational system by providing necessary knowledge to develop individuals that are nationally rooted and globally competent. The new initiative, which integrates a global curriculum, will contribute in developing the educational and life skills of students with a focus on Emiratis values and the Arabic language. The new model is designed to prepare students to lead and innovate and make valuable contributions to building the nation’s future.
New Affordable Private Schools
As a part of the educational strategy, the Dubai government has planned to open two new affordable schools to be run by a private sector operator under a new model for the city. The schools will be located in Mirdif and Al Barsha, and will be operational on August 29 2021. Both schools will follow the American curriculum but will focus on Arabic literacy, science and technology, the UAE’s culture and Islamic studies.
The schools will be operated by Taaleem, one of the country’s top education providers, and will be regulated by the Knowledge and Human Development Authority (KHDA), Dubai’s private education regulator. The school will be open for students of all abilities and nationalities. Currently, more than 400 families have expressed interest in seeking admission in these schools, while it can accommodate 800 children. Initially the school will be open for preschool to Grade 4. The annual fees for the students will vary from AED 29,900 (USD 8,140) for kindergarten students to AED 36,155 (USD 9,832) for fourth-graders. These two new schools are expected to raise the educational standards in the region.
Dubai Education System
Dubai has strongly believed that developing human capital will be a key to shape a bright future for the country and its citizens. As part of the vision of VP. and PM. of the UAE and Ruler of Dubai, H.H. Sheikh Mohammed, Dubai has invested in quality education to create a future for the country that is driven by scientific curiosity, knowledge, innovation, collaboration and national values. Dubai Government strives to create an ideal platform for a modern globally recognized education to thrive in the Emirate.
Investment Opportunities in Dubai’s Education & K-12 Sector
Dubai will continue to improve its infrastructure, offering a pioneer quality of life and unparalleled business environment for residents and visitors alike. Various government initiatives pertaining to the education sector will continue to make Dubai and UAE an attractive destination for setting up educational institutes in the Emirate.
Research Konnection is one of the leading market research companies in UAE and specializes in education sector research. We have assisted schools, institutes and universities with the following:
- Need Assessment Studies (Submitted to UAE CAA – Commission for Academic Accreditation for offering new undergraduate and graduate programs at universities)
- Market Entry Studies (K-12 / Curriculum Preference)
- Market Feasibility Studies (Market Sizing, Competition Assessment & Student Potential)
- Surveys & Interviews (Parents, Students, Teachers & Employers)
- Student Enrollment Projections
Research Konnection specializes in Consumer Research & Market Feasibility Studies. It is one of the leading Market Research Companies in Dubai. Feel free to reach out to us at email@example.com for research enquiries. …March 11, 2021
Abu Dhabi – Economic Overview
Abu Dhabi is considered the wealthiest emirate in UAE, in terms of per capita income and Gross Domestic Product (GDP). The estimated GDP for the year 2020 was approximately AED 1.47 trillion (USD 401 billion) which contracted by 7.5% compared to the previous year, because of the low oil production and COVID19 outbreak. The GDP Per Capita for the same period accounted for AED 160,000 (USD 43,005). The economy is expected to grow at a rate of 2.2% between 2021-2023. The oil and gas sector is the primary source of Abu Dhabi’s GDP contributing to more than 40% of the overall value. However, with the economic diversification strategies of the UAE government and its initiatives to boost the development of the Emirate’s non-oil and gas sector, is gradually lowering the dependency on oil & gas.
Abu Dhabi injected approximately AED 50 billion (USD 14 billion) to support small local businesses, research and development, tourism and entertainment industries to increase the GDP contribution of the non-oil & gas sector. The government aims to boost the private sector’s contribution to Abu Dhabi’s GDP from 32% in 2019 to 37% in 2021. In 2030, the emirate aims to have a sustainable economy that is not dependent on the oil and gas sector.
Abu Dhabi – COVID19 Implications
Due to the Covid-19 outbreak, 2020 was an extremely challenging year for Abu Dhabi. Experts forecasted a decrease in GDP by 3-4% in the forthcoming years. Despite this, the economy of Abu Dhabi has already started to recover from the pandemic thanks to an economic stimulus package launched by the government to ensure that Abu Dhabi’s economic diversification goals are achieved and the impact of the corona-virus outbreak on citizens and businesses were substantially lowered.
Investment Opportunities in Abu Dhabi
This Abu Dhabi government is quite optimistic about its economic growth in the forthcoming years. They predict that Abu Dhabi’s economy will grow at the level of 6-8% in 2021 and 2022, as a result of foreign investment, government spending, the oil price rebound and activities within the financial services. Furthermore, the emirate is planning to invest in advanced technology, such as e-commerce and artificial intelligence, since Abu Dhabi is positioning itself as a tech hub and attracting companies in healthcare, agricultural technology, and renewable energy sectors which are considered to be crucial for the emirate’s economic growth.
Abu Dhabi provides excellent opportunities for foreign investors and multinational companies across healthcare, renewable energy and agricultural technology companies to enter and establish their business in the Emirate.
Research Konnection is the best rated Market Research Company in Dubai assisting clients in business setups and expansion in Dubai, Abu Dhabi and UAE. At Research Konnection, we specialize in market research, feasibility study and business modelling. Feel free to reach out to us at firstname.lastname@example.org…March 10, 2021
Abu Dhabi’s Industrial Sector a Major Contributor towards Non-Oil GDP
The report, issued by the Industrial Development Bureau of Abu Dhabi Department of Economic Development revealed that Abu Dhabi’s industrial sector contributed to approximately 10.7% of the non-oil GDP and 6.3% to the overall GDP for the year 2020. More than 51 industrial facilities started their production last year in UAE, which had a total investment of AED 4 billion (USD 1 billion). More than 35 of these facilities went into production in Abu Dhabi, while 11 in Al Ain and 5 in Al Dharfa. The rise in industrial facilities in UAE, especially in Abu Dhabi, reflects the growing role of the industrial sector in driving the emirate’s sustainable economic development. Metal, food, chemicals, equipment and machinery accounted for more than 50% of the new facilities.
Major Industrial Facilities in Abu Dhabi Comprises of:
Abu Dhabi Government has taken measures to promote the role of the industrial sector as a key driver of sustainable economic development. Some of the major factors that they focused on are enhancing Foreign Direct Investment (FDI) and by providing incentive packages for the business operating in the sector. Despite the pandemic situation impacting economies and investments around the world, Abu Dhabi has seen a streamlined investments from the FDI during the year 2020. This reflects investors’ confidence in the Emirate. Several incentives, initiatives and advantages make Abu Dhabi a centre for attracting investments across the region.
Abu Dhabi Industrial Sector – Performance
More than 283 industrial licenses were registered in Abu Dhabi, among which 171 were ‘industry pioneer’ licenses, 61 were ‘under construction’ licenses and 51 ‘production’ licenses. The total industrial licenses in Abu Dhabi reached 1,694, for the year 2020 with the overall value estimated to be AED 553 billion (USD 145 billion), including licenses to 839 facilities that were already under production, with an estimated value of AED 362 billion (USD 98.5 billion), 546 facilities which were under construction with an estimated value of AED 181 billion (USD 49.2 billion) and 309 industry pioneer licenses.
Chemical industries constitute the highest investment value, reaching AED 211 billion (USD 57.5 billion), followed by energy and sustainability with AED 202 billion (USD 55 billion), construction and glass industries AED 44 billion (USD 12 billion), equipment and machinery AED 10 billion (USD 2.7 billion), food AED 8 billion (USD 2 billion) and other industries around AED 6 billion. (USD 1.6 billion)
Investment Opportunities in Abu Dhabi Industrial Sector
Over the past 15 years, Abu Dhabi has invested more than AED 51 billion (USD 14 billion) to establish robust industrial infrastructure. It continues to be a key contributor to GDP and major contributor to diversification strategy, moving away from oil and gas based growth. The sector benefits from consistent commitment from the Abu Dhabi Government in line with the Abu Dhabi Economic Vision 2030, and offers businesses cutting edge facilities supporting advanced manufacturing techniques. These provide significant investment opportunities in the Abu Dhabi Industrial Sector.
Research Konnection is one of the leading market research companies in Abu Dhabi and UAE. Feel free to reach out to us if for market research, feasibility study and business planning requirements in the United Arab Emirates. …March 5, 2021
Gulfood 2021 – Opening New Trade Opportunities in UAE’s F&B Industry
The recently concluded Gulfood 2021 event in Dubai was one of the world’s largest Food and Beverage (F&B) events attracting over 2,500 companies across 85 countries. The primary motive of the event was to present the main market trends in the F&B industry and to highlight new innovations, consumer behaviour patterns, revive communication links between thousands of key players in the industry and open up new trade opportunities.
The event unearthed incredible business potential for F&B companies in the South American region. Several Latin American countries participated in Gulfood 2021 and have made an appearance with innovative products that attracted the attention of the attendees, obtaining the opportunity to sign important commercial agreements. Key personals from these countries mentioned that they are focusing on reconnecting and restructuring their business strategies to overcome the impact of pandemic on their operations. They considered Dubai to be the key location for introducing their products as it is a gateway to tap into the Middle East market.
Food Product Display by Latin American Countries in Gulfood 2021 Event
Mexico – Exhibited a wide variety of products including grains, fruits, natural sweeteners and organic products. The products received a positive response, especially for the sweeteners. Similarly a company with more than 60 years in the market presented a variety of sweet and spicy fruits, meat products, beans, soups and stews without preservatives or colourings.
Peru – Farmers and entrepreneurs in Peru have adapted their products to new consumer trends, as people are becoming more aware of eating food that is not harmful to their health. Some of these high quality Peruvian foods that promote immunity of the consumers were showcased in the event. Other food products such as Quinoa, chestnuts, energy drinks and fruits were also displayed.
Colombia boasted about their innovative products, which uses advanced technology to extract antioxidants from the fruit to be used as an ingredient in food and cosmetics. Six Colombian companies presented meats, biscuits, cocoa, coffee and exotic fruits. Furthermore, the demand for Colombian meat increased by 300% as they won several contracts during the event.
Costa Rica presented coffee, sugar, dried fruits, raw materials for juices, such as banana puree and cocktail mixers in the event. A rich and healthy energy drink, which is 300 times more potent than sugar, with no calories, no carbohydrates, and also having healing properties in diseases such as blood pressure and diabetes was also displayed.
Investment Opportunities in UAE F&B Industry
The Gulfood 2021, was a huge success with the number of new trade partnerships that happened during the event. Despite a global economic slowdown because of the pandemic, the UAE continues to be one of the fastest-growing F&B sectors in the world. Events like Gulfood not only play a critical role in reviving local F&B industry but also solidifying Dubai and the UAE’s position as a major F&B destination across the globe. The country will continue to attract F&B players across different countries because of the existing lucrative market conditions.
Research Konnection is a leading market research company in Dubai specializing in F&B industry market research, feasibility studies and business setups. Please feel free to reach out to us if you are planning to start or expand your food business in UAE.…March 2, 2021
Increased Demand for Immunity Boosting F&B Products in UAE – Gulfood 2021
Dubai – The recently concluded Gulfood 2021 event saw an increased interest from retailers for certain foods and beverages that aid in boosting immunity. Several exhibitors revealed that, in light of the Covid-19 pandemic, there had been an increase in demand for fresh fruits, vegetables, and other food items that were known to boost the body’s immune system. This was primarily because of the growing awareness among consumers about the benefits of eating healthy as a means of building up the body’s immune system. This contributed to the growth in the sale of fresh fruits, vegetables, and juices.
Furthermore, the consumers have started cooking more at home and preparing meals with more fresh fruits and vegetables, as a precautionary measure against the pandemic. This has increased the demand for fresh fruits and vegetables. There has also been a noticeable increase in interest towards organic produce and an increase in demand for products in this segment.
Food Trends 2021 – UAE
- Increased consumption of fresh fruits such as oranges and kiwis
- Increased consumption of fresh vegetables including leafy greens
- Increased consumption of fresh juices
- Increased consumption of food items that boost immunity
- Increased consumption of organic foods
- Reduced consumption of sugary drinks
Demand for Fresh Fruits & Vegetables
Food & Beverage (F&B) industry experts in the Gulfood 2021 mentioned that despite healthy foods and proper nutrition being a norm in the market, the interest for various products in this segment have surged since the pandemic. Consumers are researching various products and their health benefits before they make their purchase. One of such F&B products that have seen an increase in demand are fresh fruit juices, especially those with lots of Vitamin C such as orange and kiwi, as the consumers are aware of their immunity-boosting properties.
Consumers are also shifting away from drinks such as sodas, which are loaded with sugars and sweeteners and are instead consuming beverages that have no sugar added or only contain natural sweeteners. The F&B operators are also actively adding organic, healthy food to their products list because of the increase in demand.
Investment Opportunities in UAE F&B Market
The shift to natural and healthy products had already been gradually increasing, because of the awareness and the efforts from the government to promote a healthier lifestyle, but the pandemic has definitely accelerated the process. Events such as Gulfood 2021, will further increase the awareness of all the healthy food options that are available for the consumers. The event is bound to continue attracting thousands of different F&B players around the globe, solidifying Dubai and the UAE as major F&B destination across the globe.
Food & Beverage Business Investment Opportunities in Dubai & UAE
Despite a global economic slowdown because of the pandemic, the UAE continues to be one of the fastest-growing F&B sectors in the world. With Dubai being one of the first city to control and open up during the COVID19 pandemic and its efforts in cementing its position as a strategic re-export hub in the Middle East and Africa (MEA) region, the F&B sector is expected to witness further growth in the years to come. In addition, the overall expenditure on F&B products in the UAE is estimated to increase by 7% on an annual basis from AED 136 billion (USD 37 billion) in 2020 to AED 150 billion (USD 41 billion) by the end of 2025 making it a great destination for F&B related business investments.
Research Konnection is a leading market research company in Dubai specializing in F&B industry market research, feasibility studies and business setups. Please feel free to reach out to us if you are planning to start or expand your food business in UAE.…February 28, 2021
Gulfood 2021 – Reviving UAE’s Food & Beverage Industry
The Gulfood 2021 kicked off in Dubai on February 21st, after a year of restrictions on the global Food & Beverage (F&B) industry. The return of UAE’s leading trade event has allowed F&B industry professionals to reconnect following the lack of in-person business opportunities in 2020. With a diverse exhibitors and several major F&B players, the exhibition provided thought-provoking conversations between influential chefs, food scientists, government officials and industry leaders. Some of the topics of discussions included the growing Kosher sector in the UAE, TikTok, food waste, retail disruption, tourism and much more.
Food & Beverage Industry Market Overview – Dubai & UAE
With Dubai being one of the first city to control and open up during the COVID19 pandemic and its efforts in cementing its position as a strategic re-export hub in the Middle East and Africa (MEA) region, the F&B sector is expected to witness a further growth in the years to come. In addition, the overall expenditure on F&B products in the UAE is estimated to increase by 7% on an annual basis from AED 136 billion (USD 37 billion) in 2020 to AED 150 billion (USD 41 billion) by the end of 2025.
Major Trends – Food & Beverage Operations in UAE
Change in Business Model – Food Delivery Service Providers
As the UAE and the region recovers from the pandemic, it has significantly changed the dynamics of UAE’s F&B sector, particularly of Dubai. One of the major trends witnessed since the pandemic is the increase in food delivery services such as Talabat, Zomato and Careem in UAE. They gained immense popularity during the pandemic where deliveries grew as a result of health and safety precautions. The food delivery service providers are also innovating their business model, to better serve the F&B operators. Careem, changed its commission-based model to monthly subscriptions, which has seen an increasing reception for the same.
Cloud Kitchens Concept on Rise in UAE
The F&B operators are also increasingly moving to shared cloud kitchens as compared to the traditional on-site ones, and are now looking towards managed kitchens. Facilities in which both cooking, and delivery are fully outsourced will allow businesses to focus more on brand, concept, and consumer demands while eliminating the need to spend significant sums on allocation decisions.
Kosher Food in UAE
One of the major topics of discussion during the event was the introduction of Kosher certified food products and how it could emerge as the fastest growing food category in the UAE, reaping the full dividend from the opening up of the UAE-Israel ties. The Israeli visitors at Gulfood stressed the importance for food businesses in the UAE to go Kosher if they want to serve and build good relationships with an entirely new audience of consumers from Israel.
Food & Beverage Business Investment Opportunities in Dubai & UAE
Despite a global economic slowdown because of the pandemic, the UAE continues to be one of the fastest-growing F&B sectors in the world. Events like Gulfood not only play a critical role in reviving local F&B industry but also solidifying Dubai and the UAE’s position as a major F&B destination across the globe. In addition, the recent UAE-Israeli ties, several investors, tourists and key influencers from Israel are expected to visit the Emirates in the next few years. Although the Kosher food is currently being imported, Kosher certified factories will soon be established in UAE.
Research Konnection is a leading market research company in Dubai specializing in F&B industry market research, feasibility studies and business setups. Please feel free to reach out to us if you are planning to start or expand your food business in UAE.…February 26, 2021
New waterfront shopping destination announced in Dubai
Nakheel Malls in partnership with DP World has announced to open Souk Al Marfa, a new waterfront shopping destination in Dubai’s Deira Islands in April 2021. The area of the shopping destination will extend to approximately 1.9 kms along the waterfront and will be in close proximity with Mina Rashid, Mina Al Hamriya and Deira Wharfage.
The shopping destination can accommodate 2,500 shops and pavilions with facilities for shipping and logistics. Furthermore, Souk Al Marfa will provide several advantages for the business owners including 100% foreign ownership, repatriation of capital and profit, no restrictions on currency movement, logistical ease and amenities such as warehousing, office space, showrooms and Food and Beverage (F&B) facilities.
Apart from offering affordable growth opportunities to traders with multiple benefits, the retail trading hub will operate for 365 days a year. This could promote Souk Al Marfa as one of the major, diverse and large-scale shopping destinations in UAE. The Souk Al Marfa waterfront aims to become a world-class destination for living, tourism, retail and leisure.
Dubai – Retail Market Outlook
The wholesale and retail market of Dubai contributes to more than 25% of the total GDP, with its value estimated at AED 95 billion (USD 25.8 billion) during 2020. Although this was a decrease in the retail sector contribution when compared to the year 2019, primarily due to the COVID-19 pandemic, the initiatives taken by the government have recovered the market and the retail segment in Dubai is expected to grow at a rate of 10% on an annual basis.
Dubai is popularly referred to as the world’s largest shopping and entertainment destination, as it offers a variety of shopping choices to its residents and tourists. Along with the EXPO 2020, which is to happen this year and the inauguration of Souk Al Marfa, Dubai will further elevate its position as a world-class shopping and travel destination.
Investment Destination in the Middle East
The UAE has positioned itself to become a leading destination hub in the MENA region for business and leisure. It has developed world-class infrastructure with quality airports, hotels, public facilities, and economic zones, which furthers its evolution as an international business destination. The Emirates recorded an exceptional year-to-year growth of FDI (Foreign Direct Investment) by 32%, with an estimated investment of AED 51.5 billion (USD 14 billion) for the year 2020. The Citizenship reforms, 100% ownership opportunities of businesses, the EXPO 2020 which is to happen in UAE and the establishment of the new waterfront shopping destination will further attract FDIs and startups into the country, thereby creating an economic environment that is conducive for businesses and investments. Contact Research Konnection, one of the leading feasibility study companies in Dubai to assist you with market research, business planning and market entry in UAE.
Research Konnection is the best rated Market Research Company in Dubai assisting clients in business setups and expansion in Dubai, Abu Dhabi and UAE. At Research Konnection, we specialize in Market Feasibility Studies, Business Plan Development and Business Modeling. Feel free to reach out to us at email@example.com…February 20, 2021
Investors are Positive and Confident about the UAE Economy
A survey conducted by Union Bank of Switzerland unveiled that more than 85% of the investors in the UAE have increasingly become confident and optimistic about the economic conditions in the region. Furthermore, half of the investors that were surveyed (51%) believed that life in the Middle East will return to normal before July 2021, while 49% believed that it will not happen until the second half of this year due to the Covid-19 Pandemic (63%), climate change (56%) and fear of a market downturn (55%).
Approximately 86% of the investors saw a clear value in sustainable investments in companies that incorporate social and environmental considerations in their operations and expected the same or even better returns from sustainable investments when compared to the traditional portfolios. Likewise, almost 9 out of 10 of the investors mentioned that they needed more expert financial advice than ever, in order to make better and informed business decision making.
Overview of Foreign Direct Investments in UAE
Over the past few years, the UAE has taken several measures and introduced new laws to become a leading destination for FDI in the Middle East and North Africa (MENA) region. The year 2019 saw an increase in FDI by 32% reaching AED 47.5 billion (USD 13 billion) and AED 564 billion (USD 154 billion) in stocks. Despite a drop in FDI for the year 2020, the initiatives taken by the government are expected to boost the foreign investments up to 15% in the forthcoming years.
Some of the key factors for the increase in FDI inflows apart from its political and economic stability are the government initiatives to diversify the economy, new laws in business ownership & Emirati citizenship, the increase in free zones and UAE’s increased FDI inflows is due to its foreign investment deregulation policies which have provided investors more financial incentives to set up or remain in the UAE.
UAE – Attractive Destination for Investment
The UAE has positioned itself to become a leading destination hub in the MENA region for business and leisure. It has developed world-class infrastructure with quality airports, hotels, public facilities, and economic zones, which furthers its evolution as an international business destination. The Citizenship reforms, 100% ownership of businesses and the EXPO 2020 which is to happen in UAE, is expected to attract international entrepreneurs and investors to leverage the favorable business environment in the country especially in sectors such as Education, Consumer Goods, Food & Beverage (F&B), Healthcare & Fitness, Real Estate, Innovation & Technology and Professional Services.
Contact Research Konnection, one of the leading market research companies in Dubai to assist you with market research, feasibility studies, business planning and market entry. …February 11, 2021
UAE Approves Citizenship for Expatriate Investors, Doctors, Researchers and Special Talents
The UAE government has made law amendments that would provide the Emirati Citizenship to selected foreigners including investors, professionals and special talents while allowing receivers of the UAE passport to keep their existing citizenship. This is among the many residency reforms that the country has introduced over the past few months including provision for students in UAE to sponsor their parents and a long-term Golden Visa.
The initiative aims to appreciate the talents and competencies present in the UAE and attract bright minds to the Emirati community in a way that will contribute to the development and growth of the country. Both the residents and expatriates appreciated the amendments and stressed on the fact that besides promoting the nation’s economic development, this is a clear indication that the UAE is a country of dreams.
Emirati Citizenship – Eligibility Criteria
Investors – Residents who own a property in the UAE and investors that obtain one or more patents that are approved by the UAE Ministry of Economy or any other reputable international body, in addition to a recommendation letter from the Economy Ministry.
Doctors and Specialists – Applicants having acknowledged scientific contributions, studies and research of scientific value and a practical experience of not less than 10 years, in addition to obtaining membership in a reputable organisation in his field of specialisation.
Scientists – Active researchers in a university or research centre or in the private sector, with a practical experience of not less than 10 years in the same field. They also should have contributions in the scientific field such as winning a prestigious scientific award, or securing substantial funding for their research during the past 10 years. It is also mandatory to obtain a recommendation letter from recognised scientific institutions in the UAE.
Creative Talents – Intellectuals and artists should be pioneers in the culture and art fields and winners of one or more international award(s). A recommendation letter from related government entities is mandatory as well.
UAE Economy & Nationality Law Amendment Impact
The amendment is likely to encourage expat investors to consider UAE as a potential destination for real estate investments as well as committing to stay in the country for a long period of time thereby boosting the economy, real estate, construction and all closely linked sectors. In addition, it will also help UAE to attract new talents in various specialised fields which will further propel the country to be one among the most progressive countries in the world, making it an ideal platform for economic growth, business development and expansion by many investors.
Investors and international talents. If you like to learn more about the investment opportunities in the country, please feel free to reach out to Research Konnection, one of the leading market research companies in UAE known for market research and feasibility studies.
Research Konnection assists local and international companies to set up or expand businesses in Dubai, Abu Dhabi and UAE. It is one of the best rated market research companies in Dubai specializing in Market Research, Market Entry & Feasibility Studies. Feel free to reach out to us on firstname.lastname@example.org…February 4, 2021
Economic Impact of Dubai EXPO 2020 Event
Recently, the organizers of the EXPO 2020 event opened up the Thematic Pavilion inclusive of public places (dining area, gift shop & play area) before its official date in October 2021 while the Sustainability Pavilion which focuses on addressing the immediate environmental issues will be opened soon.
In line with EXPO 2020 vision to become one of the most sustainable World EXPO in history, UAE is focusing its efforts to Champion the Green development, which will be on preview at the Sustainability Pavilion with the objective finding solutions to most pressing environmental challenges such as climate change, education, digitalization and healthcare.
An Overview of EXPO 2020
The EXPO event aims to enable a meaningful, long-term business and economic growth in the MENA (Middle East & North Africa) region by offering a world of connections, inspiring multi-cultural exchanges and business partnerships that will help reinvigorate the economy of the UAE and the Gulf region. The mega event will make use of purpose-built 4.38 Sq Km. site and utilize cutting-edge smart-city technology such as ultra-fast 5G connectivity, robotics and next-generation urban environment transportation services. Coinciding with the 50th anniversary of the formation of UAE, Expo 2020 will continue to project the ambitious vision of the UAE, showcasing Dubai as a world’s leading city of the future.
Impact of Dubai EXPO 2020 on UAE Economy
Thanks to the various initiatives undertaken by the UAE government, the country’s economy is on a road to recovery from the COVID-19 outbreak. The upcoming EXPO 2020 is expected to further boost the current economic conditions, bringing it back on track to reach its long-term goals. International Monetary Funds (IMF) estimates that UAE GDP (Gross Domestic Product) will see an overall growth of 1.3% in 2021 and 2.2% during the year 2022. As other regional economies in the MENA region continue to struggle, UAE still remains an attractive place to invest. The country has not only opened borders for business and leisure but have also played a critical role in becoming a transit hub for travellers, placing it ahead of other countries globally. As a result, the UAE economy is expected to recover this year and the economic activity will gradually pick up especially during the second half of the year when the EXPO 2021 event will be held.
Key Emerging Sectors – UAE
Some of the major sectors that will see an increase in business opportunities during 2021-22 are e-Commerce, Energy, Food & Beverage (F&B), Healthcare, Innovation, IT, Manufacturing and Retail. Similarly, the emerging sectors such as Communication Networks, Artificial Intelligence (Ai), Blockchain, 3D Printing and Machine-to-Machine Communication is expected to see an increase in Foreign Direct Investment (FDI) in Dubai and UAE.
UAE is considered to be a leading global destination for FDI recording an exceptional year-to-year growth of 32%, with an estimated investment of AED 51.5 billion (USD 14 billion) for the year 2020. While attracting the FDIs to UAE, the government is also supporting the business activities of the SMEs (Small & Medium Size Entreprises). Going forward, UAE will focus on enhancing opportunities for advanced industries and critical sectors thereby showing its commitment towards creating an economic environment which is conducive for businesses and investments.
Please do not hesitate to reach out to Research Konnection, a Leading Market Research Company in Dubai if you like to know more about the investment opportunities in UAE.
Research Konnection assists local and international companies to set up or expand businesses in Dubai, Abu Dhabi and UAE. It is one of the best rated market research companies in Dubai specializing in Market Research, Market Entry & Feasibility Studies. Feel free to reach out to us on email@example.com…January 26, 2021