You’ve decided you want to go global, so now it’s time to decide where! There are a few areas to keep in mind and assess for potential: economic strength, leading industries, workforce quality, and investment opportunities. In this destination guide, we’ll be taking a look at one of the best countries for doing business— the United Arab Emirates, known for being welcoming to international business and highly ambitious in its vision. But there may be certain regulations to consider and overcome. If you’re looking to move into long-term markets in the Middle East, the UAE may be the strategic gateway for your company.
Having one of the largest oil and natural gas reserves in the world, the UAE is a global middle power with significant sovereign wealth of over $1.3 trillion. With robust resources, they are invested heavily into their own healthcare, education, and infrastructure, allowing for an excellent workforce. Now the UAE is less dependent on oil and gas for revenue and is looking more to business and tourism, which would be excellent options for investors.
The UAE has been ahead of this trend to maintain a healthy work-life balance, making it an excellent destination not only for work but also for residence. They have special holidays that restrict working hours, and, in addition to public holidays, the UAE has 30 days of annual leave, up to 90 days of sick leave, and 45 days of maternity leave at full pay.
Reflecting their strict hierarchical society, the United Arab Emirates’s business culture is very stratified with a staunch vertical hierarchy. Employees in the top positions in most companies tend to be older, more experienced, and the decision-makers. Therefore, you will need to connect with and impress these key stakeholders to do business with them.
So, if you’re interested in entering a market abundant with resources, then the UAE might be your next destination.
For more information, please download our Destination Guide: UAE below.