In this day and age, Dubai is considered the hub of global activity. The amazing city has so much to offer, from being a delightful tourist destination to multibillion business prospects. The mega infrastructure projects like Burj Khalifa and Palm Jumeirah have given an enormous boom to its economy. It has the most diverse pool of residents with around 200 different nationalities. All these factors have contributed to the global attention towards the city.
Dubai never ceases to attract the world with its unique culture and modern architecture. This perfect combination has proven to be beneficial for a large number of event organizing firms in Dubai. With an enormous economic potential on offer, Dubai has seen a successful industrial development. Almost all the vital sectors in the city are thriving, and event management is no different.
This blog will cater to the scope of event planning in Dubai.
Factors Containing the Potential for Event Companies in Dubai:
Dubai can be considered one of the most welcoming cities for event management due to its global stature. The city's exponential economic growth has made it susceptible to various events and festivities. New development corridors have opened many avenues for event planning, generating a lot of jobs and revenue. Tons of sectors facilitate the event management industry in Dubai, and some of the important ones are mentioned below:
Pyrotechnics:
Dubai is the leading tourist destination for pyrotechnics with stunning firework displays and dancing fountain shows. It holds Guinness world record for the largest musical fountain in the world. Tourists from all around the globe visit Dubai for celebrating events like New Year's Eve. The global attention grabbed by these occasions presents an excellent opportunity for the city's event organizing companies. Although international event planners handle the most prolific events in the city, there is still a lot to offer for the local market.
Sightseeing:
Dubai may not be the most gifted city in the world when it comes to natural beauty, but it has an excellent infrastructure. There is so much worth viewing, including Burj Khalifa, Palm Jumeirah, Ferrari World, Dubai Aquarium and Underwater Zoo, and much more. All these places invite a massive influx of tourism and host many events throughout the year.
Cultural Highlights:
Dubai is a culturally rich city with many heritage sites like Sheikh Saeed Al Maktoum House showcasing the traditional Arab architecture and lifestyle. In addition to that, Dubai Heritage and Diving Village is another site depicting the Bedouin lifestyle and pearl diving tradition of Dubai. These cultural sites are responsible for conducting many events, including galas, dinners, and conferences.
Shopping:
For all the shopaholics around the world, Dubai is considered as a paradise. From mega-sized malls to leading global luxury brands, the city has everything that a shopper desires. While keeping this sector's excellent potential in mind, the city started an annual Dubai Shopping Festival in 1996. This event lasts for a whole month and includes several other events like concerts, fashion shows, and firework displays.
Sporting Events:
Despite limited sporting activities, Dubai ensures that it makes the most of the available options. Traditional sporting events like Camel racing and falconry have played a big part in the city's sports scene. In addition to that, the equestrian sports like horse racing and polo are other highlights in this regard. All such events are supervised by leading international and local event planners.
Some events, like the Dubai Polo Gold Cup and Dubai Beach Polo Cup, attract many foreign audiences. These events are responsible for the massive revenue generated from tourism.
Perks of Event Management in Dubai:
The event management business in Dubai is thriving, with bright prospects lying ahead. Dubai is an ideal venue for organizing different scales of events due to several reasons, and some are given below:
Dubai has an excellent strategic location lying between Asia, Africa, and Europe. With the central location, the city is easily accessible from all parts of the world. Due to this very reason, Dubai is a viable business option globally. The city not only connects with the Arabian Sea but also has one of the most luxurious airports.
With an excellent location, Dubai becomes a go-to choice for investors and tourists from all over the world. The buzzing city generates many opportunities for the event planning market as well.
Convenient Taxation Policies:
UAE is amongst the countries with the most lenient taxation policies. There are hardly any taxes on business activities in Dubai to attract more investors in the city. Some of the taxes exempted in the city are:
- Value-added Tax
- Personal Income Tax
- Withholding Tax
- Infrastructure Tax
- Capital gains Tax
- Corporate Tax
Due to the relaxed taxation policy, every business, including event organizing and planning, has a better probability of prospering.
Booming Economy:
The booming economy is another plus for growing social activity in the city. Different businesses always want the best planning for their functions, and event companies in Dubai can be of great help. The event management sector has grown simultaneously along with the city's rising economy. According to reports, Dubai's event planning sector has seen a 25% revenue growth from 2013 with a gradual increase every year.
All the trends in the event planning business in Dubai seem to be heading in the right direction. The event organizing companies in Dubai have everything going their way and should capitalize on it entirely.
