Six Reasons Why UAE Attracts Global Startups

Six Reasons Why UAE Attracts Global Startups

With the new raft of government incentives, 2019 will be the year that places the UAE as the No.1 location for startups globally. The economy is predicted to grow, Dubai Expo 2020 is fast approaching, and exciting opportunities are being created for entrepreneurs of different ages, genders and backgrounds. The multitude of startup-friendly initiatives include incentives for female business owners and young entrepreneurs, extended five-year visas for older professionals, 100% foreign ownership of companies, and ten-year visas for some business owners and property owners. So,

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Here are six key reasons why entrepreneurs are considering the UAE as the number one spot to launch their 2019 startup.

1. Growing economy

The UAE is already one of the world’s leading startup hotspots. As more businesses flood in, attracted by generous incentives to start and grow, the economy and startup market will strengthen further. In October, the International Monetary Fund lifted its forecasts for economic growth in the UAE to 2.9% in 2018 and 3.7% in 2019, significantly higher than its April forecast of 2% and 3% respectively. The strengthening economy is down to several factors, one being an increase in oil output