UAE- Home to the most number of startups

UAE has now become the most sought after destination for startups in the Middle East region according to a report by ArabNet Digital Summit in Dubai.

A survey by HSBC suggests that the UAE’s entrepreneurial environment, job prospects and more lucrative salaries are primary factors that attract expats from across the globe.

“Despite the volatility in the global economy and insecurity in job markets, the UAE’s diverse business landscape and its position as a hub in the Middle East means that it continues to be an attractive destination for expats from across the world,” the survey report said.

According to HSBC’s Expat Explorer 2015 survey, the UAE has been singled out for the opportunities it offers people looking to build their careers or for those seeking to start their own businesses, with Dubai being chosen as the second-best city globally for expat entrepreneurs.

Dubai offers expats with good business conditions, world-class infrastructure, and work/life balance. “Given these supportive conditions, it’s not surprising that Dubai attracts twice as many expats looking to start their own businesses (9%) compared to the global average (4%). This is a ringing endorsement of the government’s diversification efforts and its investment in setting up the infrastructure needed to nurture entrepreneurs,” said Khalid Elgibali, head of retail banking and wealth management for the UAE and Mena at HSBC Bank Middle East.

Expats in Dubai also enjoy generous benefit packages like annual airfare allowances, accommodation support, health insurance, etc., which is helpful as the cost of living is an area of concern.

On the whole, UAE continues to be the desired choice for expats with 60% of the people believing that the overall quality of life is better. This survey proves that Dubai is one of the best destinations globally for those looking for opportunities abroad and provide better lives for themselves and families.

Original source: Article

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