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UAE Officially Joins BRICS: A New Economic Chapter Unfolds – Smart Zones® UAE – Business Setup in Dubai

The UAE has entered a new phase in its multilateral economic collaboration by officially joining the Brics alliance, along with Saudi Arabia, Egypt, Iran, and Ethiopia, effective January 1. This move allows the UAE to expand its presence in global markets significantly.

The UAE’s inclusion in the alliance, following the ratification of its membership by the founding nations (Brazil, Russia, India, China, and South Africa) at the 15th Brics summit in Johannesburg in August, has doubled the alliance’s size. Together, the ten member countries now constitute a formidable economic force, representing a combined GDP of $28.5 trillion, equivalent to about 28% of the global economy. The alliance also boasts a collective population of approximately 3.5 billion, constituting 45% of the world’s population, and is anticipated to produce about 44% of the world’s crude oil.

For the second-largest economy in the Arab World, joining Brics reflects the UAE’s commitment to promoting multilateralism. Analysts believe that this membership will enhance the nation’s outreach, flexibility in international partnerships, implementation of major development plans, and empowerment of its economic model.

According to Sheikh Abdullah bin Zayed Al Nahyan, UAE Minister of Foreign Affairs, “This development forms part of the UAE’s commitment to promoting constructive dialogue through active platforms that represent developing and emerging economies. The UAE has consistently championed the value of multilateralism in supporting peace, security, and development globally.”

Entering this influential group coincides with discussions about a BRICS currency potentially replacing the US dollar as a global reserve currency. Economists argue that the alliance will enable the UAE to diversify its strategic options, explore alternatives, form partnerships, and broaden its investment and trade portfolios, fostering dynamic engagement with emerging economies for mutual growth and cooperation.

“The UAE believes in championing multilateralism and actively contributing to important international arenas. This includes, apart from engaging with BRICS, participating regularly in the G20 process and hosting the Conference of the Parties to the UN Framework Convention on Climate Change (COP28) climate conference in November,” emphasizing the UAE’s commitment to global security, prosperity, and shared stability and development.

The UAE’s entry into Brics marks the culmination of an ongoing partnership, with the country having joined the group’s New Development Bank in October 2021. In June 2023, the UAE actively participated in the Friends of the Brics forum in Cape Town, presided over by South Africa during its BRICS presidency.

 

Publish 2 Jan 2024

Source: https://www.khaleejtimes.com/world/uae-marks-a-new-chapter-officially-joins-brics-to-boost-outreach

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PMFAI’s International Crop-Science Exhibition (ICSE) 2024 in Dubai – Smart Zones® UAE – Business Setup in Dubai

PMFAI has announced the schedule for its International Crop-Science Exhibition (ICSE), which stands as India’s largest agri-inputs trade show featuring a simultaneous plenary session. The event is set to take place on 8-9 February 2024 at JW Marriott Marquis, Dubai.

PMFAIICSE is the most extensive and exclusive agri-input event encompassing various sectors such as agrochemicals, bioproducts, and fertilizers, among others.

The ICSCE has been a knowledge-sharing and B2B platform for agribusinesses since 1997. Serving as a unified stage for all, the forum will exhibit opportunities for the growth of agrochemical and allied chemical industries, bringing together domestic and international players and other associated companies for interactions. This creates significant potential for business startup and knowledge exchange, fostering collaborations in contract manufacturing or research and development in a mutually beneficial manner.

India ranks as the fourth-largest global producer of AgChem chemicals, witnessing a 6% CAGR share growth in AgChem exports from 2014 to 2021. With an abundance of technically skilled labor, state-of-the-art infrastructure, a flourishing scientific community, easy access to raw materials, favorable cost dynamics, and available resources in the ecosystem and manpower, the export share is anticipated to see a 55% increase across all markets.

The sector has experienced a substantial surge in exports of generic and contract manufacturing in recent years, leading to high valuations of AgChem players due to expansion plans and forthcoming stock listings. Additionally, Indian companies offer biological products in their portfolio, providing a one-stop sourcing solution for importers and buyers.

ICSE remains the most extensive and exclusive agri-input event catering to various industries, including agrochemicals, bioproducts, fertilizers, intermediates, precision farming, and related technologies. The show offers a significant opportunity for over 500 delegates to showcase their businesses, network, and gain extensive industry knowledge.

 

Source: https://fareasternagriculture.com/events/event-news/pmfai-to-organise-international-crop-science-exhibition-in-dubai-next-year , https://pmfaiicsce.org/

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UAE leads in global crypto adoption with real-world use cases

Unveiled: The UAE is at the forefront of driving cryptocurrency adoption across various industries, showcasing a range of real-world applications.

This surge has led to a significant increase in crypto ownership within the country, estimated at 27% of the UAE’s population. The broad acceptance of cryptocurrencies in the UAE can be attributed to strategic decisions at the state level and the nation’s dedication to embracing innovation and technology.

The UAE is taking a global lead in expanding cryptocurrency adoption beyond the financial sector. Government regulatory policies, known for their industry-friendly approach, are now structured, resulting in real-world use cases spreading rapidly across diverse sectors such as telecom and gaming, as per industry experts.

Companies are intensifying their efforts to fuel further growth, offering an expanding array of use cases. This aims to make digital currency adoption more inclusive and accessible across more industries without disrupting traditional systems, riding on the current upward trend in crypto ownership, estimated at 27 percent of the country’s population.

Embracing the crypto evolution: Institutional adaptation and the future of tokenized assets

“With regulations taking a structured shape, cryptocurrencies are finally finding value in several real-world use cases in diverse industries in the UAE,” shared Sergey Sheleg, Chief Product Officer at eSIM Plus, a global virtual SIM provider, with Arabian Business.

“One such example is as a payment option for basic telecom access, something we are seeing among a significant section of consumers in countries like the UAE,” he added.

Sheleg emphasized that the widespread ownership of cryptocurrencies in major economies validates growing investor trust in the UAE’s current regulatory environment.

However, he also noted that while this increase is positive, all stakeholders must ensure that crypto adoption is more inclusive, covering the entire spectrum of traditional and emerging sectors.

Sergey Sheleg, Chief Product Officer at eSIM Plus

UAE population actively involved in crypto industry

Dr. Sameer Al Ansari, CEO of RAK Digital Assets Oasis (RAK DAO), the world’s only common law free zone exclusively dedicated to non-regulated digital and virtual asset companies, stated that the UAE population is actively involved in the crypto industry.

“RAK DAO is excited to see 27.67 percent of the UAE population actively involved in cryptocurrencies,” Al Ansari shared with Arabian Business.

He highlighted that this statistic signifies a transformative shift towards digital assets and investments, positioning them as a significant force shaping the dynamic landscape of the UAE.

Dr. Sameer Al Ansari, CEO of RAK Digital Assets Oasis (RAK DAO)

Phillip Lord, President of Oobit, a crypto payments app, and co-founder of Pimlico Partners Middle East, emphasized that the increase in crypto owners underscores the immense potential of digital currencies.

“Companies are adopting an approach that integrates the benefits of cryptocurrency and Web3 without disrupting the traditional system. This cultivates a more inclusive and accessible financial landscape, expediting cryptocurrency’s widespread adoption and further growth,” Lord shared with Arabian Business.

“The key insight is to empower individuals to seamlessly use their crypto holdings for everyday transactions without altering the familiar system,” he added.

“For instance, at Oobit, we optimize the existing contactless payment infrastructure with additional advantages,” Lord explained.

Bill Qian, Chairman of Cypher Capital, a venture capital firm based in the UAE focused on crypto, blockchain, and digital asset-related projects worldwide, mentioned that besides the UAE, the GCC region is also experiencing a remarkable uptick in crypto investment.

“This is buoyed by the exceptionally friendly regulatory landscape towards digital assets,” Qian noted with Arabian Business.

Bill Qian, Chairman of Cypher Capital

Gaming industry sees surge in digital currency adoption

Industry experts pointed out that the gaming industry in the UAE – and the wider region – is one of the major beneficiaries of the surging and widespread adoption of digital currencies.

Mohsin Waqar, CEO of Senet System, a ‘skill to earn’ Web3 gaming platform with significant influence in the Middle East, said the surge in crypto adoption, signaling a transformation beyond finance, is rapidly permeating into diverse industries, notably gaming.

“The launch of the ‘Dubai Program for Gaming 2033’ by Sheikh Hamdan bin Mohammed Al Maktoum last month is a clear testament to the visionary convergence of technology and innovation – an initiative that may ultimately position Dubai as a premier crypto hub and global gaming powerhouse,” Waqar stated with Arabian Business.

He mentioned that the existing prevalence of regulatory bodies in the region, such as the Securities and Commodities Authority (SCA), is playing a crucial role in establishing and implementing regulation, along with the GCC’s geo-locations as a thriving business hub with a keen interest in shifting towards smart city schematics.

“The recent data that suggests over 27 percent of the UAE population is actively involved in the crypto industry reflects a profound shift in how individuals perceive and engage with digital and financial assets,” Waqar concluded.

Mohsin Waqar, CEO of Senet System

Bundeep Rangar, CEO of Fineqia, a publicly listed Canadian company giving investors exposure to a diversified portfolio of crypto-related investment opportunities, told Arabian Business the widespread adoption of cryptocurrency in the UAE can be attributed to the strategic decisions made at the state level.

“Reflecting a progressive and forward-looking approach, the UAE government has articulated its ambition to position the nation a decade ahead of the rest of the world’ in terms of innovation and technology adoption,” Rangar stated.

“This commitment to staying at the forefront of technological advancements aligns with the UAE’s economic openness and favorable tax policies, creating an environment conducive to the seamless integration of cryptocurrencies into the financial ecosystem,” he added.

 

Publish 2 Jan 2024

Source: https://www.arabianbusiness.com/money/wealth/alternative-assets/revealed-uae-leads-the-world-in-spreading-cryptocurrency-adoption-across-industries-with-range-of-real-world-use-cases

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Dubai introduces the ‘Dubai Unified Licence’ (DUL) to streamline and digitize the business approval process.

The DET collaborates with the Dubai Free Zones Council for seamless implementation of the DUL initiative.

The DUL assigns a unique commercial identification to all businesses, whether operating with a mainland or free zone license, introducing a unified digital registry. This collaboration consolidates economic establishments in Dubai and its Free Zones into a single platform for data management, collation, and sharing.

The initiative aims to standardize and streamline business processes, enhancing efficiency and reducing the time required for companies to establish and manage operations. The unified digital platform ensures transparency and easy access to business-related information, attracting international investors and entrepreneurs.

Establishments undergo thorough validation, verification, and screening to receive their unique digital identity. To date, DET has issued over 50,000 licenses and plans to issue more, covering all registered companies in Dubai mainland and Free Zones.

Helal Saeed Al Marri, Director-General of the Dubai Department of Economy and Tourism, highlights the initiative’s alignment with Dubai’s forward-thinking mindset, fostering sustainable economic growth and innovation.

Collaboration between DET and the Dubai Free Zones Council ensures the seamless implementation of the DUL initiative. Dr. Mohammed Al Zarooni, Secretary-General of the Dubai Free Zones Council, emphasizes the achievement of a unified license system in record time through constructive cooperation.

The DUL facilitates easy access to company information, allocating a license number specific to the mainland or free zone authority. It enables instant data sharing, reinforcing compliance frameworks and ensuring the UAE economy’s integrity.

The DUL streamlines business verification, providing access to verified DUL data in a digital repository. It simplifies the issuance of No Objection Certificates and permits for economic activities. The initiative offers unified and verified information about existing businesses, with plans to facilitate banks in opening accounts for Dubai-based companies with enhanced ease and efficiency.

Ahmad Khalifa Al Qaizi Al Falasi, CEO of Dubai Business Licence Corporation (DBLC), considers the DUL launch a significant milestone in digitalizing government services, providing a unified identification for all economic establishments while adhering to privacy policies.

Businesses can use their unique DUL QR Code on premises, websites, and social media accounts for easy verification. Existing businesses will receive their unique ‘Dubai Unified Licence’ Number and QR codes during this phase.

DET’s Dubai Business Licence Corporation will oversee the DUL system, and the Dubai Free Zones Council will coordinate with each free zone for updated license data and contact information.

 

Publish Tue 12 Dec 2023

Source: https://www.arabianbusiness.com/politics-economics/dubai-launches-dubai-unified-licence-in-bid-to-streamline-and-digitalise-business-approval-process

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The Big 5 Global 2023 Opens in Dubai, with a focus on highlighting sustainability and the reduction of carbon emissions.

This year, the 44th edition of Big 5 Global opened at the Dubai World Trade Centre, featuring over 2,200 exhibitors from 60+ countries, making it the largest and most influential construction industry event in the Middle East, Africa, and South Asia.

The event emphasizes strong local and international support, with exhibitors showcasing products and services aimed at transforming the construction landscape of the MEASA region towards a more sustainable future.

“Big 5 Global is committed to aligning with the discussions at COP28, echoing global sustainability goals,” said Josine Heijmans, VP of the construction division at Big 5 Global.

Running for four days, the event embodies this commitment by fostering innovation and collaboration towards a more sustainable future for the construction industry, echoing the conversations around climate action at the United Nations Climate Change Conference in Dubai.

An epicenter of sustainable products and green solutions

The construction industry’s significant energy consumption and carbon emissions make it a crucial sector in the race towards net-zero goals.

This week, Big 5 Global is introducing an array of innovative solutions to address these challenges. Companies present new products, technologies, and practices geared towards energy efficiency and decarbonizing the construction sector.

One such company is US-based Milwaukee Tool, introducing zero-emission technology for equipment and showcasing a comprehensive range of solutions. Milwaukee Tool aims to reduce CO2 emissions by 60% by 2030 as part of its global strategy.

Another company, LINQ Modular, a subsidiary of Dubai-based contracting heavyweight ALEC, is showcasing a finished and electrically powered prefabricated modular hotel room that reduces energy consumption and lowers carbon emissions compared to traditional on-site construction.

Big 5’s Impact Trail

As Big 5 Global advances its efforts to make a positive impact, it introduces the Big 5 Impact Trail, a green path across the exhibition leading visitors to explore products helping to create a sustainable future for the industry.

One of the companies joining the Impact Trail is the UAE’s homegrown Emirates Steel Arkan, presenting construction materials and products produced efficiently and sustainably, setting new standards in the construction and infrastructure sectors.

Saudi Arabia-based Green Building Solutions (GBS) is another company promoting sustainable practices through its participation in the Impact Trail. The company presents Phomi MCM products manufactured from natural materials and environmentally friendly.

Dialogues around decarbonizing the industry

Throughout the four days of the event, Big 5 Global hosts thought leadership discussions across various summits and talks to actively shape initiatives aimed at decarbonizing the industry.

As the UAE marks the Year of Sustainability, HE Dr. Abdullah Belhaif Al Nuaimi outlines key strategies for a sustainable construction future.

Cristina Gamboa, CEO of the World Green Building Council, shares insights on why the built environment is imperative for Agenda 2030, emphasizing the need to halve emissions and reduce embodied carbon by at least 40%.

Other sessions explore the role of architects in building a net-zero world, planning for sustainability and decarbonization in the built environment, and Dr. Michael L. Tholen’s session on the new Center of Excellence for Carbon Neutral Concrete by ACI: Middle East & North Africa.

“As Big 5 Global continues to be at the heart of building connections and supporting businesses to grow, we look forward to creating a remarkable four days of diverse activities and product launches driving sustainability and decarbonization,” concluded Heijmans.

 

Source: https://www.big5global.com/

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Why is the UAE Great for European Investors and Start-Ups?

The United Arab Emirates (UAE) has emerged as a highly favorable destination for both European investors and start-ups in recent years. This vibrant nation, located at the crossroads of the Middle East, offers a multitude of compelling reasons for European entrepreneurs and investors to explore its business opportunities. In recent years, the United Arab Emirates (UAE) has emerged as a magnetic force for businesses worldwide. Among the most captivated are European investors and start-ups, drawn to the UAE’s bustling economy, strategic location, and an alluring mix of innovation and tradition. This blog explores why the UAE has become an irresistible destination for European entrepreneurs seeking to expand their horizons and venture into the Middle East’s vibrant markets.

Reason #1: Growing Economy and Strategic Location

The UAE boasts a thriving economy with a diverse range of sectors, providing a conducive environment for European investors looking to diversify their portfolio. Its strategic location acts as a bridge between Europe, Asia, and Africa, presenting an unparalleled opportunity to access multiple markets from a single base. With state-of-the-art transportation and logistics infrastructure, the UAE facilitates the seamless movement of goods and services, making it a strategic hub for businesses to extend their global reach.

Reason #2: Business-Friendly Policies

When it comes to doing business, the UAE is a pioneer in offering a business-friendly ecosystem. One of the most enticing aspects for European investors is the absence of corporate and income taxes in many Emirates. This taxation advantage optimizes profits, making it an alluring proposition for businesses of all sizes. Moreover, the UAE government has streamlined regulatory procedures, making the process of setting up and operating businesses remarkably smooth and efficient.

Reason #3: A Booming Start-Up Culture

For European start-ups, the UAE presents a dynamic and innovative environment that fosters growth and nurtures budding entrepreneurs. Cities like Dubai and Abu Dhabi have witnessed a surge in start-up activity, with co-working spaces, incubators, and accelerators providing valuable support to early-stage ventures. The country’s commitment to promoting technology-driven solutions has given rise to opportunities in fintech, health tech, artificial intelligence, and sustainable technologies.

Reason #4: Access to Lucrative and Diverse Markets

The UAE is renowned for its diversified economy, creating a wealth of opportunities for European businesses. From real estate and tourism to finance and technology, there are ample sectors for investors and start-ups to explore and capitalize on. The high per capita income and a substantial affluent consumer base make the UAE an attractive market for premium products and services.

Reason #5: Abundant Funding Opportunities

Securing funding is often a significant challenge for start-ups. However, the UAE’s burgeoning venture capital and angel investor community have been actively supporting innovative entrepreneurs. European start-ups with compelling business ideas and scalable models find a wealth of opportunities to raise capital, paving the way for accelerated growth and expansion.

The UAE prides itself on being a cultural melting pot, embracing people from all corners of the globe. European investors and entrepreneurs find a welcoming and inclusive environment, making it easier to adapt and integrate into the local business landscape. As the country continues to innovate and evolve, it solidifies its position as a global business hub, attracting ambitious European entrepreneurs and investors eager to unlock new horizons.

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This December, Dubai will Host Freedom Business Summit

Dubai is gearing up to host the Freedom Business Summit in December, aiming to be the Go-To Hub for Global Citizenship and Business Freedom. This premier one-day event, scheduled at Dubai Knowledge Park, anticipates 300+ attendees and international investors.

The highly anticipated summit caters to those exploring the best options in second citizenship, residency programs, international island investments, legal offshore strategies, sovereignty, Plan B, and a location-independent lifestyle.

Attendees gain exclusive access to a network of distinguished individuals, including renowned citizenship industry experts, global expats, international investors, government representatives, real estate developers, high-net-worth individuals, top executives (C-Level), and prominent crypto investors.

The event boasts an exclusive lineup of speakers, including Kristin Surak, a highly acclaimed author and professor at the London School of Economics, Paul Bryson, the accomplished Managing Director of Virtuozon, Pandu Biasramadhan, a Senior Consulting Manager at Incorp ID, Indonesia, and Alex Chehade, the esteemed General Manager of Binance.

This year, the summit focuses on Investment Opportunities in Indonesia and the Golden Visa Launch, exploring the unique potential of Indonesian islands, Bali real estate investments, and insights into Indonesia’s recently launched Golden Visa program.

Attendees also have the unique opportunity to gain insights from Indonesian government officials and policymakers.

The summit includes keynote presentations and panel discussions on topics often overlooked by mainstream media, covering International Investments, Global Citizenship, and Sovereign Lifestyle.

These sessions are complemented by in-depth explorations of Global Mobility for Millionaires, Exploring Second Passport Options, Investment Opportunities in Indonesia, and Bali as a Real Estate Investment Haven.

“We’re thrilled to pioneer a groundbreaking gathering, uniting global investors, experts, and visionaries for an unprecedented exploration of international investments and second citizenship options. With a special focus on Indonesia’s thriving opportunities and Bali real estate investments, we’re set to deliver an incredible experience designed to help attendees forge a path toward a more empowered and secure financial future,” says Denys Dovgal, Founder of the Freedom Business Summit.

The Freedom Business Summit is Co-organized with Alex Villas, the industry-leading real estate company in Bali, with a mission to bring affordable luxury living to the masses.

 

Publish Date: 27 Nov 2023

Source: https://www.khaleejtimes.com/kt-network/dubai-to-host-freedom-business-summit-in-december

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Wemade Collaboration Boosts Dubai’s Web3 Gaming Sector

Part of Crown Prince Hamdan bin Mohammed bin Rashid Al Maktoum’s initiative to make Dubai a global web3 gaming hub, South Korean gaming giant Wemade collaborates with Dubai Chambers to enhance blockchain gaming ecosystems in Dubai and the UAE region, as per a Nov. 28 press release.

The deal was formalized through a meeting between Wemade CEO Henry Chang and Dubai Chambers President and CEO H.E. Mohammad Ali Rashed Lootah.

Dubai Chambers, a non-profit public entity championing the interests of the Dubai business community, plays a crucial role in connecting businesses with the government and fostering a conducive environment for business growth.

Comprising the Dubai Chamber of Commerce, Dubai International Chamber, and Dubai Chamber of Digital Economy, Dubai Chambers, restructured in 2021, is a key player in Dubai’s business landscape.

Wemade partnership

As the first major South Korean game developer engaging with Dubai Chambers, Wemade sets a precedent for international cooperation in the gaming industry. The collaboration aligns with Wemade’s commitment to fostering blockchain gaming ecosystems. Under the deal, Wemade will contribute its gaming development expertise to key initiatives, including the Dubai Program for Gaming 2033.

Chang expresses enthusiasm about contributing to Dubai’s dynamic gaming sector and nurturing the next generation of gaming industry talent. For Dubai Chambers, the alliance is a strategic move to innovate and advance Dubai’s digital ecosystem.

Dubai’s Digital Economy Ambitions

Dubai, with a comprehensive regulatory framework for the crypto industry, attracts major players like Binance. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Crown Prince of Dubai, unveiled The Dubai Program for Gaming 2033 in November, exemplifying the Emirate’s vision to establish a thriving new industry. Dubai aims to become one of the top 10 cities in the gaming industry, focusing on the Web3 gaming sector.

Dubai believes a robust gaming industry can contribute an additional $1 billion to its GDP by 2033, creating 30,000 new gaming-related jobs within the next decade.

 

Publish Date: 28 Nov 2023

Source: https://cryptoslate.com/dubais-web3-gaming-sector-gets-a-boost-with-wemade-collaboration

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RAKEZ COP28 Business Set-Up Offer

Businesses are offered special set-up rates and sustainable start-up rates by a UAE free zone ahead of COP28.

Ras Al Khaimah Economic Zone (RAKEZ) introduces a groundbreaking COP28 business set-up offer, extending a two-year license with no fee for office set-ups, providing entrepreneurs a cost-effective solution for establishing eco-friendly operations in the UAE.

This strategic move aligns seamlessly with COP28 goals, demonstrating RAKEZ’s dedication to sustainable practices by offering tailor-made packages, assisting businesses in contributing to a greener future.

RAKEZ business set-up deal in UAE

RAKEZ pioneers such a forward-thinking initiative as the first economic zone in the UAE.

For businesses needing more physical space, RAKEZ offers a customizable bespoke package for warehouse setups, allowing efficient and sustainable practices.

RAKEZ Group CEO Ramy Jallad stated, “We started early on sustainability and energy-saving programs at RAKEZ, diligently working towards an eco-friendly business environment.

Our commitment is not just in words but in actions, offering substantial support and incentives to businesses that align with our vision. At RAKEZ, we are firmly committed to fostering growth, innovation, sustainability, and exceptional customer service.

As we approach COP28, it becomes increasingly crucial to unite in addressing climate change and shaping a more sustainable future.

Our new COP28 business set-up offer is a clear demonstration of our unwavering dedication to these ideals.

We are proud to be at the forefront of this movement, actively supporting businesses that share our vision and providing them with the necessary resources to make a positive impact”.

The RAKEZ COP28 offer is not just about licenses and workspaces; it is about empowering businesses to thrive in an environmentally responsible manner.

The package includes a range of benefits such as exclusive services from RAK Municipality’s Energy Efficiency and Renewables and RAK Ports, access to value-added services from RAKEZ, free zone and non-free zone set-up options, and exclusive discounts, among many others.

 

Publish Date: 27 Nov 2023

Source:

https://www.arabianbusiness.com/politics-economics/uae-free-zone-announces-no-fee-business-set-up-service-ahead-of-cop28

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Dubai Tops the Global List for Preferred Expat Destinations

Dubai stands as the world’s most sought-after city for international relocation.

A recent analysis by financial services provider Remitly reveals that Dubai holds the top position as the city people worldwide aspire to move to.

This ranking, compiled from 12 months of Google search data, unmistakably places Dubai in the lead, with Miami, Paris, and New York following closely behind.

Dubai: The Ultimate Dream Destination

Global immigration is on the rise, with individuals seeking overseas travel for a myriad of motives.

As of 2020, an estimated 281 million people lived in a country other than their place of birth, marking a substantial increase of 128 million since 1990. This accounts for approximately 3.6% of the world’s population.

The study conducted by Remitly involved an analysis of Google search volumes for the phrase “move to [city]” across 164 countries globally. The outcome is a comprehensive ranking based entirely on how many countries favor relocating to a specific city over all others.

Dubai emerges as the clear favorite, topping the wish lists of a remarkable 60 countries.

Searches for relocating to Dubai were more prevalent than any other city in 60 countries, including India, Pakistan, the UK, Italy, Canada, the USA, Australia, and Sri Lanka.

Top Choices for Dream Immigration

  • Dubai, 60 (the number of countries desiring it the most)
  • Miami, 12
  • Paris, 10
  • New York City, 8
  • Madrid, 8
  • Singapore, 8
  • London, 6
  • Brussels, 6
  • Toronto, 3
  • Washington DC, Buenos Aires, Christchurch, Quebec City, Bogota, Portland, Vienna, Phoenix, Chicago, 2

Remitly states: “Renowned for its ultramodern architecture, vibrant nightlife, year-round sunshine, and abundant job opportunities, Dubai is globally regarded as an immensely attractive place to live. Its population increased by almost 100,000 during the 12-month period from 2022 to 2023.”

“For those seeking a fresh start in a city where making friends from all corners of the world is easy, Dubai emerges as the perfect relocation destination.”

However, UAE residents express interest in relocating to Singapore, another city featured in the top ten list, known for its diverse expat community and ample job prospects.

In Canada and the US, “move to Dubai” was by far the most popular search term.

Out of 50 US states, 37 selected Dubai as the most searched-for international relocation destination, and seven out of 10 Canadian provinces favored the UAE city.

In Europe, 14 countries placed Dubai at the top of their list, while residents of seven Asian countries preferred Dubai over any other location.

Similarly, African and Oceanic regions designated the UAE city as the prime choice for international relocation.

Jago McKenzie, Business Management Director at Remitly, explains: “People are increasingly considering the idea of relocating to another country at least once in their lifetime, whether for better job prospects, improved quality of life, or higher income to support their families back home.”

“With this in mind, it’s no surprise that people worldwide are searching for information about the city that could become their next home.”

“Dubai is the undisputed winner in our study, with its abundant job prospects, appealing lifestyle, and fantastic weather. It’s easy to see why it’s the top choice.”

 

Publish Date: Mon 6 Nov 2023

Source:

https://www.arabianbusiness.com/culture-society/dubai-ranked-most-popular-city-in-world-for-expat-immigration

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