Dubai: While Indian workers and businesses continue to grow their international reach, one place where they are making an outsized impact is the UAE city-state of Dubai. India has long enjoyed a privileged position in the UAE, as the country’s second-largest trading partner, with more than $31 billion in trade between the two nations taking place in 2018.
The epicenter of this economic activity is in Dubai, where the bulk of Indian entrepreneurs, tech workers, and businesses choose to set up base. Within the first few months of 2019 alone, a total of 2208 Indian companies registered with the Dubai Chamber of Commerce, bringing the total number of Indian businesses in the city up to 38,704. This means that Indian companies represent a whopping 24% of new businesses in Dubai. This strengthening of economic ties has not gone unnoticed by the local government, which used their recently-opened trade office in Mumbai to hold a record 124 meetings with Indian investors in the first six months of this year.
But who are the Indians who are making a new home for themselves in the Middle East’s most prosperous city? What is it about Dubai that makes it such a magnet for Indian capital and talent? One crucial factor is the city’s tech sector, which has emerged from being a fringe industry just a few years ago to becoming one of the global leaders in industries such as artificial intelligence, robotics, and green energy technology. These are all areas in which Indian businesspeople hold considerable expertise, which helps explain why so many are being lured to Dubai as a means of expanding their operations.
Another key factor is quality of life, which is significantly higher in Dubai than it is across much of India. A significant portion of the Indians flocking to Dubai are wealthy, highly educated tech workers, who are drawn to the luxurious living and low taxation offered by this famous playground for the rich. As such, the demand for high-quality accommodation for foreign workers remains high, which is why luxury rental and real estate portals such as Bayut are stepping up to ensure that Indian workers are able to access property that meets their discerning standards.
It would not be an exaggeration to say that Dubai has rolled out the red carpet for Indian talent. A number of local initiatives, such as a new ten-year working visa for entrepreneurs and a raft of legislation to increase ownership and IP protection, have gone a long way in ensuring that Dubai stands out from the competition.
In addition, the fact that Dubai levies 0% income tax on foreign workers also continues to attract some of the best and brightest from India’s booming tech sector. The number of new arrivals into Dubai from India continues to climb at a steady pace, and will likely hit an all-time high for 2019.
If you’re looking to start a new life on the sun-kissed shores of Dubai, it’s clear that the city is more than happy to have you.