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Last month, H.H. Sheikh Mohammed, VP and PM of the UAE and Ruler of Dubai approved the National Sports Strategy 2031. The strategy aims to advance the role of UAE’s sports sector in driving the nation’s prosperity and wellbeing. Such initiatives go h…

The UAE’s food industry is projected to experience a consistent annual growth of 7%. Food trading, food trucks, cloud kitchens, catering companies and franchises are expected to d…

Why Market Research is Important When starting a new business it is important to understand and assess the mar…

UAE Shoppers are most mobile-centric and omnichannel consumers globally A recent survey conducted by a top marketing research company in the UAE identified its shoppers as the most mobile-centric and omnichan…

International Overnight Tourists in Dubai Cross 7.1 million in First Half of 2022 During the first half of 2022, Dubai has received over 7.12 million international overnight visitors. The number of tourists t…

Ten New Schools to be established in Dubai – KHDA Dubai’s Knowledge and Human Development Authority (KHDA) announced that ten new schools are set to open in Dubai for the 2021-22 academic year. According to t…

Digital Solutions Fueling the Growth of Businesses in UAE A report conducted by ‘Visa’ in UAE suggested that a significant …

Dubai Masterplan 2040 Focuses on Improving the Quality of Life in Dubai The latest Dubai 2040 Urban Masterplan aligns with UAE’s vision for the next 50 years. The Plan is focused on enhancing people’s happiness and quality of life. The people-centric Plan focuses on reinforcing Dubai’s competitiveness as a global destination by providing a wide diversity of lifestyle and investment opportunities for residents and visitors over the next 20 years.  Dubai 2040 Urban Masterplan, has created a development model that offers the best possible quality of life and creates the conditions for sustainable prosperity which draws its inspiration from global best practices and adapts them to local needs and requirements. The primary goal of the masterplan is to create a truly inclusive environment that not only meets the diverse needs of people residing in UAE, but also inspire them to tap into their creative and innovative capacities and realise their true potential. Dubai Masterplan 2040 – Measures to Improve Quality of Life The plan emphasises on upgrading and improving the efficiency of utilizing the resources in Dubai, developing vibrant, healthy and inclusive communities, and doubling green and leisure areas and public parks to provide a healthy environment for residents and visitors. Nature reserves and rural natural areas will constitute 60% of Dubai’s total area. Several green corridors will be established to link the service areas, residential areas and workplaces, facilitate pedestrians’ movement, bicycles, and sustainable mobility means across the city, in coordination with developers and government departments. The land area used for ​​hotels and tourist activities will increase by 134%, while that used for commercial activities will increase to 168 square kilometres. Dubai will continue to be a global hub for innovative start-ups, international corporations, and strategic investments. The Master Plan will also increase the land area allocated to education and health facilities by 25%. The length of public beaches will increase by 400% in 2040 to increase residents and visitors’ quality of life. Dubai Masterplan 2040 – Impact on Dubai Economy The new Plan will raise the efficiency of development and promote the infrastructure’s optimal utilisation by developing vacant urban spaces. It also seeks to provide sustainable and flexible means of mobility and foster greater economic activity and attract foreign investments to new sectors. The plan will help raise the Dubai’s growing role as a pivotal business and trade hub, enhancing its attractiveness as an investment destination by leveraging its superior logistics infrastructure and contribute to Dubai’s efforts to mitigate the repercussions of the Covid-19 pandemic, accelerate the pace of its economic recovery and prepare the ground for a bright new post-pandemic world. Research Konnection assists local and international companies to set up or expand businesses in Dubai, Abu Dhabi and UAE. It is one of the top market research companies in United Arab Emirates specializing in Market Research, Market Entry & Feasibility Studies. Feel free to reach out to us on hello@researchkonnection.com…

Importance of Conducting Market Research in Abu Dhabi Abu Dhabi Economic Outlook – 2021 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 2019, as result of lower 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.  Abu Dhabi injected approximately AED 50 billion (USD 14 billion) in 2021 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.  Importance of Market Research in Abu Dhabi The ideal platform provided by the Emirate has made the environment highly competitive, where businesses compete on quality, price and most importantly the market information. In order to succeed in Abu Dhabi, better understanding of consumers, market and competition is required for companies (new and existing) to make key business decisions. Advantages of Conducting Market Research – Abu Dhabi Developing Effective Business Strategies With the help of a comprehensive market research exercise (i.e. surveys & interviews, business plan and feasibility study), companies can identify potential opportunities, evaluate market demand and devise an effective business strategy. Understanding Market & Competition Market research helps companies in analyzing the latest market trends, competition and consumer behavior in Abu Dhabi, Dubai, United Arab Emirates (UAE) and the Gulf region. Understanding Consumer Behaviour Market research helps companies in understanding consumer behavior and trends better. With the help of market research, businesses can better understand consumer needs and wants and accordingly position themselves in the market. Most importantly, an effective market research allow businesses to understand the following:   Target Audience Profiling – Identify customers   Market Segmentation – Identify niche / segment in the market   Market Positioning – Position business considering target audience / market segment   Marketing Mix – Plan effective product / service offering   Pricing Strategy – Understand key price points Evaluating Return on Investment (ROI) Conducting Market research in Abu Dhabi helps companies in better understanding return on their investments. By evaluating the market demand of products and services and through competitor scanning, market research allows companies to ascertain the business potential. Through in-depth market research, companies (existing and new) can not only reduce the risks associated with the investments but also benefit from increased revenues and profitability. Need For Conducting Market Research – Abu Dhabi COVID-19 has impacted almost all the sectors in Abu Dhabi and has made the market highly volatile and uncertain. The unpredictable conditions have further increased the need for conducting market research to be highly critical for the long-term success of any business. Organisations that fail to conduct market research tend to drown. Though some organizations conduct internal research, they tend to lose sight of the consumer market research that is required for the growth of their business. By imparting right knowledge and suggesting practical solutions, market research companies can enable business not just to accelerate their growth but also mitigate potential business risks. Therefore, it becomes essential for businesses (new and existing) to conduct in-depth market research and use information / insights to make key business decisions. Research Konnection is one of the best market research companies in Abu Dhabi and UAE. Please feel free to reach out on waqas@researchckonnection.com to discuss about successfully entering the UAE market, Market Research, Business Plan Development, and Business Setup or Expansion. …