The world sees Dubai as a rich, flourishing city with still a lot more to offer. Many investors put their money into Dubai’s businesses and infrastructure. This is because Dubai is known to be a center of innovation and creativity in the region. Where else would investors go to fulfill their vision, right? Because of the booming economy in Dubai, more opportunities are open for aspiring entrepreneurs. Below are some of the top business trends in Dubai this year:
- Construction and infrastructure. More infrastructure projects will continue to flow through Dubai in 2017. Expansion and safety supplements to the present structures would be given much attention. Infrastructure would compete for the budget since Dubai needs to meet the demands of the influx of foreign and local tourists, investors, and regular users.
- Wellness and fitness. Everyone is concerned about their health and wellbeing these days. People are conscious of their longevity and that is why fitness clubs or gyms are gaining more patrons by the day. Because of the great demand for fitness hubs, expect more entrepreneurs venturing into the business of getting fit. Of course, the safety of the clients is imperative. This is where professional fitness instructors, medical personnel, aerobics instructors, dietitians, and personal trainers should be at the ready. Also, fitness products such as workout clothes, sports accessories, energy drinks, supplements, and protein bars will be more in demand.
- Green energy. The environment is valuable to Dubai’s entrepreneurs. Investing in green energy will have ore focus, since more and more consumers are becoming serious about solar power and hydro power. Expect more services and products that provide green energy.
- Entertainment, information, communication. Because of the increase in bandwidth, information transfers and flows better. This will continue because of more advanced technologies that address the need for faster data delivery.
- Payment industry. Payment is going to have more improvement. The CAGR is projected to have a 6% growth in the next five years. The consumers and retailers will have better experience in payment methods from contactless technologies to mobile point-of-sale. Retailers will also be using social media as payment infrastructure. This would make it easier for transactions to start and finish. This would need more appropriate forms of technology. B2C and B2B businesses need to expand through the globally accepted digital channels. To make transactions easier, faster, and more convenient, products and services will be made available in certain places at a certain time. This encourages a more personalized experience for consumers. The security of payments has long been an impediment for payment structures. A stricter form of security would be developed more such as biometrics to reinforce PIN numbers and passwords. A step further in payment infrastructure is the Smart Meter. This enables appliances such as the refrigerator to manage its own inventory. It would be able to tell you that you are out of milk. You would then be able to order milk from your fridge and pay from there as well. Here are more possibilities in the payment industry:
- Correcting inefficiencies in cross-border payments through transformation opportunities
- Modernization of domestic payment infrastructure
- Transformation in the economic system because of the digitization of retail banking and payments
- Opportunities for better customer experience
Dubai will continue to have more advancements in business, since it is important for it to fulfill the demands of its investors and consumers. Look forward to better business and consumer experience in Dubai in 2017 and in years to come.