On-Demand Business Models: Your Catalyst to Start-Up Growth
In the dynamic business landscape, on-demand business models have emerged as a game-changer for start-ups, revolutionizi [...]
Dubai is popularly known as the "City of Gold" due to its spectacular development from a sleepy gulf port to a world-renowned business crossroads in the single-generation era.
While the city seeks to transform itself into a global industrial hub, businesses such as Talabat, Deliveroo, Emaar Properties, Blacklane, and many more have flourished their names successfully.
Interestingly, Dubai witnessed the opening of more than 30,000 new businesses in the first half of 2023.
The city opens doors to umpteen businesses. But only some know about the best business to start in Dubai.
Here's a crisp of the best 15 businesses to start in Dubai.
The eCommerce market of UAE is to hit $17.2 Bn by 2027.
People in Dubai choose online shopping- whether for fashion, fitness equipment, pet accessories, groceries, appliances, or food- due to its convenience. Leading eCommerce businesses, such as Amazon ,Noon, Ounass, and more, have become the choices of many customers in and neighboring cities to order their products online.
Moreover, around half of online shopaholics in Dubai expect online orders to arrive in less than two hours. Thus, this growing demand of people toward eCommerce in Dubai is a great chance for you to place your eCommerce app like Amazon in the market.
Dubai is the most visited destination globally and home to several record-breakers, from the busiest international airport on the planet to the world's tallest tower. In 2022, Dubai saw an increase of 7.08 million visitors, which is a 97% increase from 2021. It implies endless opportunities not only for current but also for upcoming travel and tourism businesses.
New entrants can capitalize on the travelers' demand for exceptional itineraries, personalized travel experiences, and guided tours by launching their app that exhibits the best of Dubai.
Dubai's cosmopolitan culture and lively food setting make it a perfect location for a food venture. Its diverse population and an increasing number of globetrotters build a dynamic market with a strong demand for delicious culinary experiences.
According to the Dubai Gastronomy Industry Report 2022, 72.2% of tourists were happy with the overall quality of food and restaurants.
Keeping such considerations in mind, newbies can enter the market with the vision to contribute towards food sales by delivering such delectable meals to people’s doorsteps through an app or by launching their app like Just Eat.
The apparel market is expected to rise annually by 2.61% in Dubai (CAGR 2023-2028).
Dubai has a colossal appetite for gold and diamonds, boasting an unmatchable market for jewelry. The city has a large collection of pearls in unique colors. When picking gold in bulk at a reasonable budget, tourists prefer to add gold shopping to their Dubai bucket list.
Those thinking of opening a venture in Dubai can opt for apparel and jewelry businesses, whether retail or wholesale. The only thing they need to put effort into after inaugurating the store is getting an app, as customers prefer to shop online over the store visit.
75% of real estate investors in Dubai hail from abroad.
International real estate investors look for the right location when seeking profits in return. Dubai provides three lucrative economic environments to base real estate firms- free zone, mainland, and offshore. They are the perfect sites to invest in because of their high-class infrastructure, advantageous location, and enticing tax policies.
There are many real estate companies in Dubai, out of which investors look for the best one. You can help them compare different properties by launching an app that helps them get everything on one interface and prevents them from trawling through loads of websites for the best deals.
Every year, Dubai welcomes a tremendous number of global tourists. They have valid international driving licenses and want to rent a car to reach their destination without changing to 2 to 3 taxis or public vehicles. Further, scorching heat and relatively low fuel prices are good reasons they prefer to rent a car.
Also, the car rental business in Dubai is projected to be the largest by 2028. Thus, collaborating with car rental providers and delivering their services via an app like Uber can be a lucrative business. Go smart with Uber clone development services and start your business instantly with a car rental app!
Dubai's growing population is health-conscious. They prefer to live a healthier lifestyle, ask for customized workouts according to their age, and search for personal training sessions. Though the city already has ample fitness facilities, new business owners can still stand out by offering online workout sessions, including aerobics, yoga, dance, Zumba, and more.
The fitness market will develop at a CAGR of 8.9% between 2022 and 2027 due to boosting health awareness, increasing disposable income, and growing tech-driven fitness in Dubai.
Thus, it’s high time for you to deliver every type of fitness experience in Dubai via multiservice apps.
Fashion and Beauty Business
Dubai is home to renowned fashion and beauty brands. Due to multiple varieties and choices, residents and tourists shop online and in the malls for the latest attires and beauty products.
Online shopping for fashion items in the Dubai market is expected to cross 20% of the total market size over the next 3 years, compelled by the consistent spike in average order value and purchase frequency.
It is where you can integrate your fashion app, delivering the latest trends in Dubai, where the fashion market is expected to grow at an annual growth rate of 11.88% by 2025.
The home décor market can boost annually at a CAGR of 2.65% during 2023-2028.
Dubai's art and design have drawn eyeballs internationally due to its iconic architecture, enhanced living standards, and high income. Irrefutably, people in Dubai look for exceptional interior materials to design their homes and add luxury.
To help people get a real experience while shopping for home decor products online. Having an app with an AR feature is a plus point.
Dubai is the fastest-growing tech-driven city, evolving many industries simultaneously. The city provides a big platform for healthcare business as it has licensed 143 health facilities in the first quarter of 2023.
As the healthcare industry advances, people look for ease during their treatment, from searching medical facilities to booking appointments and consulting doctors to ordering medicines. Thus, you can create an app that has lists of Dubai’s healthcare companies, from clinics to pharmacies, helping patients get everything on one platform.
Dubai has different literature, culture, medicine, business, art, and more courses to develop knowledge and learning. Even with the immense availability of private schools and vocational training centers, there is still space for new businesses in the city.
A study reveals that the education apps market will expand by $46.9 billion in 2024 with a CAGR of about 26%.
It is where you can integrate your business idea of developing an e-learning app and launching it in the market to help educational institutions provide distance-learning courses to those in need.
If a grocery business idea seems attractive, Dubai is the right place to invest. The UAE online grocery delivery market is anticipated to hit USD 6.87 billion by 2032 with a CAGR of 29.18%. Here, people prefer to receive groceries at their doorsteps. Grocery online apps help them cover the most basic of needs.
It is a cakewalk to create a grocery app, especially when you can leverage the features of prominent apps, such as Instashop and Careem, with white-label solutions. Avail it and launch your grocery delivery app in the Dubai market in a short time.
Dubai has set itself as a leading global hub for fintech innovation. It has around 80 fintech startups, contributing to disrupting the traditional financial industry and booming technologies for efficient payment transactions and financial digital access for users. Opening a fintech business in Dubai is beneficial.
While the UAE fintech market is predicted at USD 39.3 billion in the current year, it hovers to register a CAGR of more than 15% during 2023-2028.
Individuals often look for fintech services in Dubai. With rising digital banks and innovative Fintech startups trending in the market, you can set up your app for easy banking and trading.
In the Alcoholic Drinks market, the increase in number of users is expected to 1.7m by 2027.
The demand for alcohol in Dubai led to the opening of many liquor stores. As the alcohol license is free in the city, you can start your business in clicks, ensuring you are 21+. All you need is to tie up with different stores and restaurants offering alcohol and their different beverages. Create a multi-service app and offer alcohol delivery services.
What's next? Contact an app development company to get an alcohol delivery app and serve users at their doorsteps!
Dubai has strongly emphasized industrial growth, making it a remarkable destination for manufacturing services. Business owners can discover umpteen business ideas in this industry, such as 3D printing, machinery manufacturing, and more.
The manufacturing industry has contributed 8.9% to Dubai's GDP in 2021, making it the most competitive industrial sector in the Arab region. The city has an incredible location with direct links to every corner of the globe, which makes it ripe for exporting.
Your business idea can be the bridge between importing, exporting, and their users, connecting them all through a multi-service app of manufacturing.
Business-friendly environments, taxation advantages, strategic location, robust infrastructure, dynamic market, free zones, safety, and government support are a few factors that encourage entrepreneurs to start the best business in Dubai. To begin with, one should have in-depth market research knowledge, develop a solid business plan, adapt to local culture, stay agile, monitor financials, and embrace digital marketing. Thus, Dubai welcomes every business aspirant to set their dreamland among the right audience.
However, online business presence matters in the digital world because it is where the target customers are. Let Hyperlocal Cloud help newbies take their businesses online and multiply their footprints across the digital landscape!