Promoting tourism is one of the best ways to boost the economy of a country. So, the UAE government is paying special attention to the travel sector during 2024. Entrepreneurs can start a tourism business in Dubai to tap into the growing visitors to this top tourist destination.
The thriving UAE’s travel industry is taking advantage of the people incoming to the marvel of the Middle East. Accordingly, tour operators are attracting the visitors to the sightseeing places in Dubai. That’s why tourism companies in Dubai and across the UAE are flourishing big time.
9 top motives to start a tourism business in Dubai
Here are the leading logical points to start a tourism business in Dubai in 2024.
- Central location
- Visa and residency
- Safe to live and a high quality of life
- Access to air and sea
- Modern infrastructure
- Repatriation of earnings and profits
- Free zones
- No taxation policy
- Multinational business culture
Now we take a brief look on these points.
Dubai is an international business and travel hub. Therefore, its location turns it into a strategic link between Asia, Africa, and Europe. It makes Dubai an ideal city for global trading, export, import, hospitality, tourism, and other business activities.
With accessible land and sea travel, Dubai is taking part in goods transportation between the West and the East. Its central location makes it easy for companies and people in Dubai to access worldwide consumer markets. For example, Americas, Africa, Asia, the Gulf, Europe and CIS (Commonwealth Independent States) countries.
Visa and residency
Emirati and foreign entrepreneurs having interest in tourism find business setup in Dubai or other regions of UAE beneficial. Also, expats who have residency in the UAE can lease office spaces for tourism companies for a long time. They can enter and exit UAE multiple times, and open current accounts in the UAE banks. Moreover, they can obtain a visa for other countries, including countries that make up the Schengen Area.
Safe to live and a high quality of life
Crime rates in Dubai are one of the lowest in the world. Besides, political and security stability is one of the major reasons for the increase in FDI. Dubai provides an ideal environment for businesses to prosper.
As the FDI increases, the standards of lifestyle also improve. UAE is ranked 26th in the world on the UN Happiness Index in 2023 (on a three-year-average of 2020-2022). A plethora of business opportunities and tourist destinations make UAE a country to live in and visit.
Access to air and sea
The UAE is home to one of the largest airport and seaport — Dubai International Airport and Jebel Ali Port. It is easy to transport items by land, air and sea from different parts of the world to Dubai. Similarly, it is easy to send goods from Dubai to any of the world.
Over the past 2 decades, Dubai is constructing high standard infrastructure, whether it is a road network or high-rise buildings. As the FDI increases, Dubai is creating facilities for industrial, residential, tourism and commercial use. These facilities are to help investors and entrepreneurs in setting up their businesses.
Likewise, the construction of new roads, the new airport, and public transportation facilities is also under progress. The infrastructure in the UAE is the best in the world as per the WEF’s Tourism Competitiveness Report. Also, the UAE ranks second in quality of roads, third in quality of air transportation, fifth in port infrastructure, and eight in land transportation network.
Repatriation of earnings and profits
The government of Dubai allows 100% repatriation of the revenues from companies in free zones and mainland. Remember that Dubai does not have any restrictions on foreign exchange. Furthermore, it maintains a stable exchange rate between the UAE Dirham, US Dollar, and other high-performing currencies.
Dubai has a number of free zones that are currently facilitating different kinds of businesses. Foreign investors and entrepreneurs can setup and gain 100% ownership of the business, without partnering with local sponsors. Also, keep in mind all free trade zones vary from one another and provide licenses in various sectors.
No taxation policy
The UAE is known to have a very diverse economy. Almost all types of businesses have zero taxation, except for international banks branches, hotels, and large oil and gas companies. Personal income tax, value-added tax, corporate tax, retention tax, and tax on capital gains are not applicable by Dubai’s government.
Multinational business culture
Dubai has a business culture that is ideal for multinational companies. It is home to many multinational companies’ offices such as Microsoft, LG Electronics, Sony, HSBC, Emirates, BBC World, etc. Subsequently, you can also setup a branch office of your multinational tourism business here.
Also, many internationally popular universities have campuses in Dubai. For instance, London School of Business, Hult International Business School, Michigan State University, etc. You can also open a campus for your educational institution in Dubai.
In case, you want to start a tourism business in Dubai. Expert business consultants can help you with company formation in Dubai to begin tourist operations in the UAE. It is true whether it is a company in the free zone or in the mainland.
The professionals at KWS Middle East help you go through the registration process swiftly. Apart from company incorporation, you can get valuable business support services. Such as corporate bank account opening, visa processing, product registration, etc.
Connect with us for consultation to start a tourism business in Dubai right away.
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