Is Dubai really the Future?

There’s so many conceptions and prejudices on how Dubai seems to be. None of them can fully grasp the energy and feeling of your own experience when arriving and living in Dubai.

It is one of the fastest growing cities and economies across the globe and has already proved itself to millions of expats and foreign investors. But why do people truly come over to invest or even give up their home to move here? It has to be more than good weather and the favorable tax regulations.

Indeed, it is.

Dubai developed and opened up in the past years to become a hub for individuals who strive for more in life and look for an environment that helps them reach their potential and goals.

Let’s look closer into this from an economical, cultural and societal point of view.

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Dubai’s economy.

Most people still suppose that the economical success of the UAE comes from the country’s oil reserves. When taking a closer look, the major part of the local GDP (71%) was generated by the non-oil sector. Especially IT-based sectors like Fintech, AI and E-Commerce, as well as the healthcare sector are rapidly growing and go hand-in-hand with the increasing interest and immigration of young ambitious individuals.

With these developments, job and investment opportunities have risen significantly in the past years. Many have already taken advantage of the beneficiary tax situation, especially the lack of income tax and have started their business in Dubai.

On top of that due to the 2020 amendment of the Federal Decree-Law, the UAE now finally allow a 100% foreign ownership for more than 1100 business activities. Along with the empowering pro-business oriented authorities and the immense economical potential, it becomes inevitable to reach out to the Gulf’s most important market.

Especially nowadays, with the profound uncertainty and political volatility that we have experienced over the past years, Dubai seems like a rare pearl within a rather dark ocean. Recently it is hard to find a supporting government and reliable political leaders that care and act towards a value-driven, human-oriented system. Speaking of that, the UAE are one of the few countries who really make a difference and operate for a better future for society as a whole.

This stability and environment mirror in the mood and energy of Dubai and its citizens.

Dubai’s culture.

The UAE have recognized the opportunities of opening up and becoming more diverse by time compared to other rather traditional Muslim countries.

Up to today, there are more than 200 nationalities living and working in the UAE. Within its seven emirates, you‘ll not only find a wide range of nature and landscapes, but also a scale of its cultural traditions and standards. While emirates like Abu Dhabi or Sharjah are more conservative and traditional, Dubai is the most diverse and tolerant towards different religions and orientations.

Above all, the UAE base their culture on deep-rooted values and morals that mirror within every day life.

Family and respect count as highest priorities. Therefore there is a huge number of initiatives and opportunities that support families and kids. Ranging from a competitive school system to various leisure activities and parks.

Religious freedom and guaranteed equal rights for both sexes act as the base for a society characterized by respectful and content human interaction.

Dubai’s society.

In general, you'll feel a totally different energy and drive when coming to Dubai compared to life in Western Europe.

Dubai is incredibly future- and solution-oriented and aims to become the happiest and most livable city worldwide. And already there are crowds of expats coming over to jump onto that vibe and improve just as the city is continuously growing and flourishing.

Overall Dubai's society is quite young, with more than 60% of people aged between 25 and 54 years. Most people come to Dubai to work, whether it is on the construction sites, in the service sector or in order to grow their own businesses.

What particularly stands out is the frankness and generosity in general. Whether you meet foreign workers from the East who put all these future plans into action and build some of the most impressive architectural objects, the Locals who are remarkably welcoming or one of the many Europeans and Russians who recognized the huge potential of the Gulf states. Everyone greets you in a friendly way and has a positive outlook on life. People here focus on the good things and on what they can contribute to the overall wealth.

Globally things are changing incredibly fast and it seems like the Gulf countries, Dubai in particular, seem to develop into a "new Europe". All while offering aspects that significantly increase life quality that went missing in the West. Speaking of an extraordinary level of security, peace and respect.

Living in Dubai and truly experiencing the people and energy over here for a longer period, will definitely show you that there is hope and a future in this world. You just have to be brave enough to explore it.

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If you're interested in getting to know more about the various options and possibilities in Dubai or are looking for professional advice regarding business set-ups and company formations in Dubai, make sure to visit our website www.niche-concepts.ae or directly get in touch with us via the mail, phone, WhatsApp or our contact form on the website. We're looking forward to get you closer to your goals!