Dubai is one of the few economies in the world at present which is registering a growth in positive figure every consecutive year. Last year, the economy grew by 2.7% and this year in 2020, it is expected to grow further by 3.1 percent. This figure indicates that the nation is not at all solely dependent on its oil reserve anymore like earlier years and it is investing intellect and money in other businesses as well to diversify the sources of its revenue.
From travel and tourism sector, it has now entered the technology sector as well and making a mark with its innovative business ideas and opportunities providing to the new entrepreneurs. The government is focusing on the development of different sectors to magnify the growth and diversity the income opportunities. Even when the oil market was in turmoil last year, this economy grew significantly if compared to various other oil-producing economies. If you are looking for business investment opportunities in this Dubai, then there are a number of sectors and industries which are booming with time. Here are 20 such investment opportunities and business ideas which have the potential to grow as a successful business venture.
Top 20 Business Ideas & Investment Opportunities In Dubai
#1. Beauty and Wellness:
The whole of the Middle Eastern region along with Africa is all set to be the topmost producer and supplier of beauty, wellness, and personal care products and for the next five years, this industry in this region is expected to grow by almost 6.5% on a YOY basis. The premium personal care products are one of the most demanded items from this region and thus it captures a market cap of 55% which is expected to grow further to 60% in the next 2-3 years. The initial investment in this business is also in the lower brackets if you are only thinking about supplying (trading) products. This is one of the profitable business ideas with rising demand.
#2. Financial Services:
In 2015, the Oxford Business Group published a report where it had been analyzed that this economy is having a full-fledged capital market operation going on which is increasing the growth of the economy to another level. The financial markets have witnessed major growth in the Middle East region as a whole and Dubai is one of the most prominent markets that has various opportunities in the financial sector which not only includes the capital or share market but also in other financial services like insurance, banking and loan services etc.
#3. Retail Sector:
One of the five most prominent and high potential sectors in Dubai is the retail sector. There are various successful startups already making a huge turnover in this sector and there are thousands of products to offer. The total value of the retail sector in this economy was around $57 billion in the previous financial year which is expected to grow to $71 billion in the next five years. By 2018, 717000 square meters of space will be added to the retail space for shops and outlets as expected and analyzed by eminent economists and market analysts. You can gauge the potential and opportunities this industry has in itself by these figures.
#4. Mobile app-based private transportation services:
With the growing adaptability to technology in Dubai, apps have become a part and parcel of life. Moreover, transportation sector in Dubai is another one out of the top five fastest-growing industries in the economy and thus if you merge both technology and transportation together by means of an app, the potential of building a successful business venture is there. You can provide services like round clock cab booking, pre-booking services. For making your business popular, you should provide different payment options rather than cash, like you can provide the e-wallet use facilities to make the payment etc.
#5. Online delivery services:
With liberalization and globalization across the globe, people are now moving to different places for work and opportunities away from home but due to the connecting of the roots, they keep on sending gifts, parcels, and couriers of different items to their homeland. Dubai has a large number of foreigners who use courier services on a regular basis, if you provide them with a platform where they can review and compare the prices of the different courier services and then book accordingly, then there is a probability of having a fruitful business venture. Business opportunities in Dubai in app-based delivery services in huge and one can easily capture the market with proper digital marketing activities.
#6. App-based insurance services:
Insurance is a necessity and especially the medical and life insurances are regarded as mandatory to have a secured life. If you are into the financial sector or in the technology industry, you can think about developing an app which will help the potential insurance buyers to compare different insurance policies on their mobile screen itself and then buying the most suitable one for them.
#7. Fitness and Personal care services:
With a high standard of living in Dubai, the citizens are more or less concerned about their fitness, personal appearance, and health. If you want to invest in this sector, then either you can provide direct services by opening up a fitness center or a health care center but this will require a huge investment. On the other hand, you can develop a website which will serve the viewers with necessary information about the best places in his or her nearby area for fitness training and healthcare facilities.
#8. Job or placement services:
There are thousands of people who graduate every year in this nation and then start searching for a job, you can help them and build your own business out of it by providing them with the relevant information about new vacancies and entry-level jobs or internship opportunities through a media or online platform. Job consultancy services in one of popular idea for small businesses in Dubai.
#9. Pre-owned Products sell services:
While the markets are coming up with new products every day whether it is cell phone or cars, there is a huge demand for pre-owned products as well which are in good condition. Moreover, when a person is selling his 1-year-old cell phone, he would expect at least some percentage of the amount he paid for the phone back by selling in an open market. You can buy the product and sell it to another customer by keeping some profit percentage with you. The best way to do this business would be to build an online site for the trade to take place.
#10. App-based customer service management:
Most of the time, big brands, reputed business houses cannot respond to their customer’s feedback which affect their businesses in a negative manner. If you are seeking opportunities in Dubai for investment, you can build an app that will keep a track of all customers’ feedback of your client and will respond accordingly to keep the good relation on. You can also provide services like customer surveys and information collection for better business.
#11. Online fashion store:
As the per capita income of the economy is really high, fashion and accessories are one of the most sought-after products in the country. There are many analysts who are anticipating this economy to be the next fashion capital of the world. Therefore, investing in the fashion industry is anticipated to be profitable in the present scenario. You can open an online site where you can have a range of fashion products that are from apparels to jewelry and other accessories to grab the attention of the customers.
#12. App-based food delivery services:
Service people face most of the hassle while leaving for work every morning which is regarding what food to take for lunch. Even the college-goers who stay alone puzzle up their mind over what to eat on a daily basis. So, if you love food and you love to make people eat, you can build an app where customers can book orders beforehand and then you can arrange the food and deliver to their doorstep. You have to collaborate with the nearby food joints and the restaurants for daily orders. Many startups have come up with this idea in Dubai and are now expanding to neighbouring countries/cities like Oman, Saudi Arabia, Abu Dhabi, Sharjah, etc.
#13. Networking services:
Networking is necessary for every field whether you are in business or in service. In Dubai, with the growing stress on sectors other than oil, people are now looking to connect with people of similar interest. And if you are good in PR, you can start an online portal where people with a different interest can connect with others who have the similar interest. You can also add details related to various events going on in the cities in which the members can participate. You can also extend your services to PR and HR services as well.
#14. E-book services:
E-book or online reading has been a popular phenomenon in Dubai as well as in the rest of the Middle East countries since 2008 when half of the world was unaware of what it is. Now, also a huge market share of online book publishing and reading comes from this side of the world. You as an investor or traders can invest into publishing on online books, selling of hard copies to generate revenues. One idea that you can consider is targeting a specific age group and publishes or sells books according to the requirement of that particular age group.
#15. Online Real Estate services:
Real estate is amongst the top few sectors of this economy with many major constructions done which are famous across the globe. This is one of the most profitable markets in Dubai at current times. Though the market has declined in the previous financial year there is still provision for making a profit out of it. The residential projects are reaping good money as of now in which you can invest.
#16. App-based education services for millennial:
Millennials across the globe are now different from the earlier generations. These people are not risk-averse in nature and thus there are so many startups ideas we are coming up. But they need information which you need to supply on a constant basis. You can build an app that will have different information ranging from businesses, jobs, market analysis, investments, investors, and guides to facilitate the journeys of a millennial to a millionaire.
#17. Content Management services:
Content management, media management are necessary for nowadays’ businesses and thus you can provide various services like content services, media, and advertisement services to the companies in your city as well as on a national platform.
#18. Online store for Parents:
As mentioned earlier, retail is a primary business for the people of Dubai. You can invest in this sector and be assured of reaping profits but if you want to be specific about your product you can focus on the needs of the parents especially the mothers. As mothers are always concerned about their child’s needs, you can cater to them by an online medium where they can search for various products which you can provide and also compare the prices to avail benefits.
#19. Customized travel services:
Travel and tourism are one of the fastest-growing sectors in this nation and there is a chunk of revenue which is coming from this sector every year which is increasing the GDP of the economy. You can invest in tour and travel agencies and an online platform where you can provide advisory services to the clients for their tour and holidays and also provide services related to ticket booking, hotel confirmation, transportation and etc. Try to incorporate some services like insurance for traveling as well to attract the corporate clients as well.
#20. Online Restaurant and hotel booking Services:
Eating out is one of the favorite pass time in Dubai as observed and surveyed by various institutions. So, investing in online services to reserve seats in restaurants and book hotels seem to be a profitable venture. No one would like to stand in a queue and that is why if your app allows customers to book seats while sitting on the couch at home, it can be a popular one and earn you a good amount of revenue.