UAE is the coalition of seven major oil exporting cities. This business was profitable some ago but the recent stumbling global oil prices are keeping the emirates on their heels to search alternate options of revenue generation. In the recent years, application development has gained momentum around the globe
Dubai has set itself apart others. Majorly popular as tourist destination, Dubai has worked on various fronts and now ranks among the top five fastest growing cities in the world. The city puts maximum provisions for doing business. The city's emerging middle class is another reason that's attracting the new start-ups to put their camps there.
The globally important position of Dubai provides it the access to faster emerging markets of Asia, Africa and Middle East. The present rate of development of emerging economies is twice the size of developed economies, directly opening a sea of opportunities. Also, the sea trade route is strategically important bringing access to fastest growing Indian and North African economies.
Taxes are not payable in Dubai because Government never levies them. Entrepreneurs, individuals and even expats do not pay taxes. The atmosphere to make maximum out of any business would provide invitation to companies around the globe. Any mobile application developing company in Dubai can make the most money because of the low expenditure on apps development and no charges for doing business.
Even if the Government makes business taxable, companies' still going to flock to Dubai because of its proximity to profitable emerging markets also the city itself has a stunning $45,000 per capita of GDP. Directly, signaling to only profit scenario.
Dubai is home to world's some of the richest billionaires. People have money and definitely any new startup with a mind boggling idea can get the attention of these real rich investors. The cost of living in Dubai is high and only the elite class can afford to live there. Thus, IT companies like mobile application developers can try their destinies.
The city also has the flock of tourists arriving throughout the year. The allied activities are definitely to push up the GDP. Hotels, restaurants and attractions are gaining popularity and many more are coming up with the prospects of making lot o money. Around 28 percent of the GDP is tied to trade and tourism. In accordance to the high demand in tourism sector gates are opened to Application Developer Companies as Dubai Government says NO to none.
The magnificence with which the Government is investing on expanding the city is the driving force for the tourists.
The Prospects of growth can be witnessed ver the growth of Cereem. Careem, a Dubai-based cab service, was founded in 2013 was extremely loved by the people and the startup raised around $71.7 million so far. Its services so far have crossed over to 26 other countries in Middle East and North Africa.
The population of UAE exploded to 9 million in just a decade from less than a million. The population did not grow rather it actually shifted. Expats from around the world sensed the prospects and profits of earning and growth in a land where government and monetary supports were available. You find application developers' market growth in UAE was the impact of expats migration but Government agencies have recently pointed to inclusion of domestic players in the market even though as entrants.
The future belongs to developing economies and applications developers have sensed this opportunity. Areas as UAE, India and Africa offer the maximum opportunities.
Martin Wynn
