Every year, millions of people from all over the world travel to new places, and each of these places has its own culture as well as cuisine that is completely distinct from the others. In recent years, a large number of people from all over the world, including Asia, Europe, and the Americas, have relocated to Dubai, making it a city where the population of expatriates outnumbers the population of natives.
The tourism industry in Dubai is expanding at breakneck speed, but the city is also becoming known for its food manufacturing and food trading businesses. Both of these industries are gaining recognition. In recent years, Dubai has seen explosive growth in the areas of both the food and catering industries. Dubai’s dining scene has evolved as a result of the growing number of tourists and international workers who live and work in the city. Food and beverage companies from around the world, as well as those from the United Arab Emirates, are continuing to invest in this emirate.
The United Arab Emirates (UAE) has emerged as a top F&B hub in the Middle East over the course of several decades. Food and beverage establishments, both foreign and local, keep flocking to Dubai. Foreign retailers and food and beverage (F&B) operators eyeing the Middle Eastern market continue to set their sights on the United Arab Emirates (UAE).
Investor Hamad Al Wazzan, who is well-known throughout the Arab world and the Gulf Cooperation Council (GCC) in particular for his work in the food and beverage industry, has outlined five compelling reasons why now is the time to enter this dynamic market in Dubai.
Hamad Al Wazzan, “Dubai Is An All-Inclusive Market”
Let’s take a look at some data that puts Dubai in the top tiers before we get into the reasons:
- After the 2009 pandemic, Dubai saw a surge in the popularity of dinner shows. As a matter of fact, there is a more deliberate and determined pursuit of entertainment while dining,
- The Dubai Chamber of Commerce and Industry recently reported that in 2020, online sales in the UAE F&B market increased 255% from the previous year, totaling USD 412 million, and are expected to increase to USD 619 million by 2025.
- The F&B industry in Dubai stands to benefit greatly from the government’s ambitious plan to attract 25 million visitors annually by 2025.
A Focal Point for Tourists All Over the World
Over the past couple of decades, Dubai has transformed from an oil-based economy to a cultural crossroads for the world’s people. A large number of international expatriates travel to Dubai each year for both work and play, and a small percentage of these visitors end up making the city their permanent home. This has resulted in a population that is a mosaic of different cultures. With such a multiethnic upper class comes a greater appetite for exotic foods. Tourists from Asia, especially Russia and India, flock here regularly.
“It is time to leverage this business hub and step in the market at the earliest convenience”, said Mr. Hamad Al Wazzan.
As a result, there is always a sizable population of business travelers in Dubai, as it serves as a hub for many international business conventions, conferences, and meetings. The Dubai Shopping Festival is just one example of the many government-sponsored events held to lure tourists to the city. Modifications have been made to the diets of the locals. KPMG found that 67% of people eat out for weekend dinners, 44% eat out or order takeout for lunch on a daily basis, and 66% of people dine out at a brunch restaurant at least once a month.
Renowned Eateries From All Over the World
Everything from traditional Emirati dishes to authentic Indian food to Indonesian food can be found in Dubai. It’s common knowledge that the food sold on the streets is delicious, cheap, and easy to come by. This is without a doubt one of the best and most incredible places in the world. The Burj Al-Arab, a seven-star hotel, can be found in the heart of downtown Dubai. The memories you make in these incredible locations will last a lifetime. Expats in Dubai have a wide variety of dining and entertainment options to choose from.
“Investors today have the option of selecting from a variety of cuisines that can satisfy the tastes of many people from all over the world,” Mr. Hamad AlWazzan confirms.
Convenient Business Setup in Tax-free Zones
In Dubai, as well as the rest of the United Arab Emirates, there are a number of different free zones. These free zones have been created with the intention of luring foreign investors to set up shops in Dubai by supplying them with desirable locations and favorable economic policies. The relaxed customs and tax policies that these free zones provide for foreign investors can result in lucrative financial returns.
In a tax-free zone, for instance, businesses pay no business tax, their employees pay no income tax, and there are no customs duties. Due to these factors, establishing a food-related business in Dubai is a lucrative option. Mr. Hamad Al Wazzan encourages investors to take advantage of these procedures because they reduce the danger of failure in business. Additionally, he recommends that investors who are considering opening a restaurant franchise in Dubai seek advice from business consultants.
Superior, Cutting-Edge, and Up-to-date Facilities
No infrastructural concerns should be raised in Dubai because the emirate’s infrastructure, modern conveniences, and architecture are all at or above the world’s norm. Tourists flock to Dubai for shopping and dining experiences. There is no larger shopping center than the Dubai Mall. Jumeirah’s City Walk Mall is renowned for its Michelin-starred restaurants. Premium food and beverage outlets are available to shoppers at Jebel Ali’s Outage Village. Family-friendly activities and delicious bakery shops have made the Mercato mall in Jumeirah famous. In addition, the Wafi mall in Dubai Creek and the world-famous Dubai Marina mall both provide excellent dining options for tourists and locals alike.
According to Mr. Hamad Al Wazzan, “Eco-friendly environments, sustainable facilities, and world-class infrastructure are all available there and ready to welcome new businesses; this is a rare opportunity that is lacking in many parts of the Arab world.”
Simple Licensing Processes
It’s no secret that the UAE government is keen on attracting foreign investors, and the country’s hospitable environment for setting up a business is just one indicator of this. The straightforwardness of getting a business license and setting up shop is proof of this. There are a few different kinds of businesses that can be established: limited liability companies, free zone companies, branches of foreign companies, and local branches of domestic companies. There must be a local sponsor present for some business types. “There are advantages to each, but you should choose the one that fits your business strategy the best before proceeding with the registration of your ideal restaurant,” affirms Mr. Hamad Al Wazzan.
Hamad Al Wazzan, an investor in the food and beverage industry, expressed his hope that other Arab countries would follow Dubai’s lead in creating a more business-friendly climate, which would ultimately lead to a boost in the economies of those nations.
