Record Number of Companies Choose Dubai for Expansion in 20246 min read
- 22.11.2024
- Posted by: Uwe Hohmann
- Category: Dubai
Record-Breaking Business Migration to Dubai Shows Strong Economic Growth
Dubai continues to strengthen its position as a global business center. The Dubai International Chamber reported growth in company establishments during the first three quarters of 2024. The Emirate witnessed a remarkable 68.8% increase in new company setups compared to the same period in 2023, highlighting its growing appeal as a top business destination.
Multinational Companies Lead the Charge
The most striking development has been the 117% year-over-year increase in multinational companies (MNCs) choosing Dubai as their base of operations. This surge demonstrates the Emirate’s success in attracting major global players, reinforcing its status as an international business center.
SME Growth Signals Strong Business Environment
Small and medium enterprises (SMEs) have shown equally impressive growth, with 118 new businesses establishing themselves in Dubai during Q1-Q3 2024. This represents a strong 57% increase from the previous year’s 75 SMEs, indicating that Dubai’s business ecosystem continues to appeal to companies of all sizes.
Local Companies Going Global
Perhaps most impressively, the Dubai International Chamber has successfully supported 75 local companies in their international expansion efforts during the first nine months of 2024. This 241% increase from the previous year showcases Dubai’s role not just as a destination for international business but as a launching pad for global growth.
What This Means for Business Owners
For entrepreneurs and business leaders considering Dubai for their next venture, these statistics paint a clear picture of opportunity. The Emirate offers:
A proven track record of supporting business growth
Strong infrastructure for both SMEs and MNCs
Effective support systems for international expansion
A business ecosystem with global connections
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