Countries in Middle East have been steadily growing in terms of trade. Here are the top cities to do business in.
Doha – Qatar
Qatar was recently shown to have the third largest Gross Domestic Product per capita in the entire world. Qatar’s top partners in trade are of Asian descent, that is, India, Japan and South Korea, making it a hub for business ventures looking to target the Asian market.
The economic wealth of Qatar is largely from oil trade but this has slowly been declining with the entry of Japan into Qatar. However, the nation has been moving away from petroleum dependence into other forms of trade. Doha in particular has shown tremendous growth in the real estate market especially in readiness for the 2022 FIFA World Cup that will be in Qatar.
The market is open for new entrants who will bring about diversity in trade.
Dubai – United Arab Emirates
The city of Dubai has grown into a global city to reckon with. It is strategically located and also has very good trade relations with countries from all over the world. One of the reasons that make Dubai the ultimate city to do business in is the fact that it has an actively diversifying market that is constantly looking for something new.
Though the city’s current success can be attributed to its vibrant oil industry, it has recently ventured into other forms of trade including technology, hospitality and manufacturing making it very attractive to foreign investors.
Abu Dhabi – United Arab Emirates
Located approximately 150 kilometers from Dubai, Abu Dhabi is another excellent location for new businesses. As the capital city of the United Arab Emirates, it is a city of great economic importance in all of Middle East.
With 60 percent of its total GP coming from oil trade, the 40 percent is up for grabs for any lucrative investor with something great to offer. One great advantage of trading in this city is the fact that it is a duty-free and tax free city which automatically lowers the cost of production for manufacturers.