Dubai was once a trading city based on fish oil and pearls, but since the discovery of oil 50 years ago, it has grown into a global trading power and has become an important economic, tourist and financial center . 

From Dubai World Trade Center (DWTC) and aesthetically pleasing buildings to hosting complex businesses, Dubai has transformed into a widely dispersed matrix of commercial and financial hubs. Dubai has managed to diversify its economy and has become a popular destination for tourists. It is now renowned for its quality of life and its development which combines Western technology and Eastern culture.

In this article, we will explore the 5 factors main which have enabled Dubai to become an international place of business: 

1. Endless opportunities.

Dubai has created special economic zones to attract foreign investment and boost its economy by allowing foreign ownership and employment in rapidly growing emerging markets. This led to free trade agreements to gain competitive advantage. 

The construction, finance, healthcare, real estate and jewelry sectors also offer opportunities for growth. The economic outlook is positive thanks to the increase in oil production, the recovery of tourism and the resurgence of the real estate market. In addition, the Dubai Clean Energy Strategy aims to achieve a 75% rate of use of renewable and clean energy sources by 2050. The progress made and the positive economic outlook are expected to improve existing economic opportunities. to Dubai.

2. The geographical location of Dubai.

The business center of the United Arab Emirates is popular due to its strategic location, especially thanks to its large reserves of oil and natural gas, as well as its daily production of 3 million barrels of oil and liquids. 

It is well connected to emerging markets and major international financial capitals, and has ports such as the port of Jebel Ali, the 9th busiest port in the world, is the largest artificial port and one of the most important in the Middle East.

3. A large and diverse workforce.

Dubai offers significant benefits for businesses in search of talent, thanks to a favorable working environment and attractive labor laws. 

Dubai's workforce is 90% international, allowing businesses to benefit from a diversity of skills and qualifications. 

The city's flexible immigration and travel laws make it easy for foreign employees to enter and leave the country, giving businesses the ability to effectively manage their workforces according to their needs.

 4. Effective government aid and cost-effective trade policies.

Dubai has adopted policies promoting export diversification and free trade to strengthen its position as a developing economy and encourage international trade. The government of Dubai facilitates foreign investment by offering incentives and having a favorable attitude towards business. 

In addition, with a competitive tax policy, levying no income tax on employees and workers, Dubai also offers fiscal advantages for start-ups and small businesses, contributing to their growth. To know the benefits and taxation of different types of companies in Dubai, read this article.

5. Development of the Dubai Association Center

The Dubai Association Center is a go-to location for international organizations looking to establish a foothold in one of the Middle East's booming economies. It aims to support and promote the interests of regional and international associations operating in Dubai. It also strives to provide associations in the emirate with the necessary means to launch, grow and develop. 

Associations play a key role in the economic growth and vision of Dubai, particularly in the areas of research, education, transmission of knowledge and the creation of new industries.

In short Dubai has become a global business center thanks to its economic development by positioning itself in various fields such as real estate, tourism, trade and thanks to its gas and oil production. It offers countless business opportunities thanks to its convenient location, large and diverse workforce. The city offers significant tax advantages for entrepreneurs wanting to emigrate. Finally, the development of the Dubai Association Center and its new greener projects by 2030 have also strengthened its attractiveness for businesses.