Dubai has long been firmly and securely settled into the top of the world’s most prosperous cities with favorable conditions for life and business. The reason for this is the combination of factors from cooking and attractions to economic conditions and incentives to attract foreign citizens.
The source https://emirates.estate/ told its end users in more detail about the main reasons for the prosperity of the city and its advantages in comparison with other major cities of the world.
In 2020, amid the pandemic and the global crisis, Dubai’s economy shrank by 10.9% year-on-year. The city is heavily dependent on tourism, retail and hotel business, and during the pandemic, it was these industries that took the brunt. However, in 2021, the emirate exceeded all expectations. Not only has it recovered and returned to the level it was before the coronavirus but also surpassed some historical indicators, in particular, in the real estate sector.
In 2021, the emirate’s economy grew steadily and increased by 3.1% by the end of the year. The Emirate ranked first in the world for its resilience according to the UN in 2021, as it can cope with unforeseen crises and develop long-term strategies to manage all types of risks.
According to the police report, in 2021, Dubai entered the top of the 10 world’s best cities for its security. Several international reports have also confirmed this information. The emirate placed first in at least 11 indicators, in particular in personal and digital security.
The police report highlighted some technologies that the government has used to combat the coronavirus, including mass vaccination campaigns and the sterilization of specialized boxes for transporting patients.
Dubai is on the way to becoming the world’s most progressive city. In 2021, the emirate was recognized as the best city for business innovation in the Arab world and the 94th city in the world.
Dubai continues to invest in intellectual development, for example, in the Dubai Data Strategy, Dubai Blockchain Strategy, and others programs. To support innovation in this area, over 100 intellectual initiatives and specialized services have been launched here to improve the efficiency of everyday processes and operations, including public services.
Business in Dubai
Economic competitiveness and growing attractiveness generate interest among the international community, in particular, among investors who see new business development opportunities in this direction. During 2021, there was an increase in new companies in the emirate. In September, the Dubai Chamber reported that a total of 16,000 companies joined it in the first 8 months of 2021, indicating an increase of 68.5% year-on-year. The number of e-transactions increased by 7% and reached 450,000 between January and August 2021, compared to about 419,000 transactions in the same period in 2020.
In 2022, real estate is one of the most promising sectors for business. If you are interested in flats in Downtown Dubai and other sought-after districts of Dubai, you can get acquainted with a detailed list of housing in the catalog on the Emirates.Estate website.