Potential Industries That Could Thrive In The UAE

Countries usually aspire to have thriving economies, and, for some, this means investing in the industries that are most sought-after. In the United Arab Emirates, the businesses that respond to the demands of their customers are among those that are seeing their profits rising.

Some of the businesses that are making a mark for themselves in UAE are contributing to more than one sector, such as the much-anticipated casino resort scheduled to open in 2026. This is an important project for UAE’s thriving construction industry as well as hospitality and the online casino sector which also features businesses such as 777 casino.

The UAE has a thriving economy with many different income streams that contribute to its position as one of the largest economies in the Middle East. There are many sectors that are seeing incredible growth, including:

Construction

With a political focus on infrastructure and quality service provision, there are a number of massive projects planned for the near future. This means that construction and related industries are likely to do very well in the UAE in the future as there will be plenty of work with an emphasis on speed as the country strives to be at the cutting edge.

However, construction involves several processes that have a large carbon footprint and there is an increasing desire to find innovative ways to reduce its environmental impact. This means that there are opportunities for niche businesses that offer environmentally friendly solutions to the problems faced in some of the more energy-inefficient areas of the construction industry.

Tourism and Travel

UAE is known for being a beautiful and interesting holiday destination with everything a tourist could want from historical sites to beautiful beaches, and this is reflected in the success of their tourist industry. Not only do tour operators, airlines, and hotels profit from this popularity, but there are also plenty of opportunities for other, related businesses to capitalise on it too.

Everything from souvenir shops to service providers can succeed if they can appeal to tourists, particularly if they can offer something that differentiates them from their competitors. Location really is the key when it comes to appealing to tourists, so research is needed to find the perfect spot to capture the right crowd.

With a projected increase in the number of people travelling to UAE, the market is increasing meaning that there is room for newcomers and innovators in this field.

iGaming

The advent of the internet has changed the way we do almost everything, from shopping and accessing entertainment to managing finances and dealing with the admin involved in modern life. This has not only had an impact on the way we do business but has also created demand for new services that didn’t even exist in the pre-digital age.

The iGaming industry is booming and the international demand for more games and gaming related technology is growing by the day. The number of gamers has increased dramatically and so there is potential for new iGaming companies to make their mark in UAE.

Games designers and developers can find eager audiences in UAE where there is always a market for engaging games. There is also room for associated industries to succeed in the UAE gaming market, from tournament organisers to manufacturers of gaming accessories and merchandise.

Real Estate

Experts predict a rise in the demand for real estate services as the industry has already seen significant year-on-year growth over the last few years. Foreign investment and the expected rise in the number of tourists visiting have led to a real estate boom that is showing no signs of slowing down.

Some of the increase in the number of real estate transactions can be put down to changes in government policies that have encouraged investment in UAE. The residential market has been bolstered by the economic support measures that have been put in place to help remote workers and retirees to gain residency permits and their golden visa programme has also been expanded.

Demand for retail and office space did drop off briefly but has since rallied as the government has encouraged ex-pats to invest. They have also introduced five- and ten-year residency visas that are open to those investing in real estate, which has worked to generate more interest in the sector.

Jewellery

UAE has an abundance of precious metals and this has been the basis for a world-leading jewellery industry which has become even more profitable since the advent of e-commerce increased the potential customer base. There has been continual innovation in the UAE jewellery market and that has seen a rise in the number of premium products being brought to market.

Already associated with the luxury goods market, UAE also attracts tourists with higher-than-average incomes, meaning that jewellers are thriving. Demand for high-end jewellery is increasing and, as trends change, there are always new markets opening for the latest designs in the current fashionable materials.

With such a vibrant economy, the potential for businesses that want to move into UAE is huge. Large numbers of tourists and a high average household income mean that there are opportunities to generate a substantial income in a number of consumer industries, and the variety of industries that support them.

From hospitality to consultancy, businesses that can contribute to the UAE economy are welcome as the country continues to embrace the opportunities the 21^st century provides.