The retail industry in Dubai has proven to be successful year after year. Here are some of the reasons that have helped boost this industry:
- The UAE is a big tourist destination
The UAE attracts millions of visitors each year. Tourism sales account for a large portion of retail sales.
- High population
There is an increasing number of residents in the UAE, which demands more presence for retail stores.
- New technology
The UAE is constantly working to improve the technology sector. Recently an AI robot was introduced to help improve the retail industry.
- Complete Repatriation of capital invested, and profits earned
The UAE provides complete flexibility to business owners to repatriate the capital invested and profits earned during the business cycle.
- Tax exemptions
The UAE’s tax benefits are one of the biggest draws for business owners. You won’t have to worry about corporate or personal taxes.
- Exposure to the international market
The UAE is in a strategic location surrounded by Saudi Arabia, Oman, and Qatar. This location provides a secure gateway to investors who want to get into the international market. There’s also a Double Tax Treaties Agreement in place that will allow UAE companies to do business in numerous areas without having to pay double taxes.
- Profitable industry
The retail sector has proven to be a successful investment. There are also multiple opportunities within the industry in the UAE, including:
- Tourism retail
- Beauty retail industry
- Medical retail
- Pharmaceutical retail
- Food sales