Expat Explore Survey 2015: have the right hints to do business in the UAE
With a small local population, the UAE’s economy depends on qualified expats who move here to boost their income. Keep in mind that the total population is around 10 million people and expats make up more than 80% of that.
The country consists of seven emirates .Centrally located between Europe, Africa and Asia, the UAE has become an important hub for global travel and that’s for sure. Most move to Dubai or Abu Dhabi, but Sharjah also has a growing expat community. Despite its cosmopolitan feel, business here still has its roots firmly in Arab culture so bear in mind Islamic rules and traditions.
It came fourth in the economics category of the 2015 Expat Explorer Survey, with high rankings for disposable income, wage growth and career progression.
English is widely spoken and the expat community is large and diverse, making it easier for new arrivals to settle in. People may not be used to the conservative Islamic culture but it helps to keep an open mind and be patient. The benefits of living in the UAE are worth it.
The UAE offers expats an exceptional quality of life, with modern accommodations and medical facilities, good international schools and a highly developed infrastructures. In the UAE high standard of living in one of the most progressive countries in the Gulf region’s characteristics.
Its strategic position in the Middle East, strong banking sector, diverse economy and stable political system make the UAE an attractive place for business. The country was ranked 22nd out of 189 countries in The World Bank’s Ease of Doing Business Survey for 2015, coming first for paying taxes and scoring well for trading across borders and dealing with construction permits.
Emiratis like doing business with people they trust so it’s good to get to know your colleagues, build lasting relationships and choose the right partner to lead your business in this market. Small talk is common and making connections with the right people is vital. Business structures are hierarchical and decisions are made from the top.
Having the right banking arrangements is a key part of expat life. Your money should be easy to access and transfer between countries. Financial security is also important, so choose a reputable bank that complies with international regulations and has a solid capital base.
Expat Explore Survey 2015: the UAE and Italy have something in common
The UAE is ranked 9th and Italy just 38th. What could these two countries have in common?
With its ancient cities, beautiful countryside and famous coastline, Italy is a popular destination for expats who share a passion for la dolce vita.
The UAE offers high standard of life, a new born country and a new path of opportunity. The booming oil industry is the heart for expats moving in here. The country’s role as a trading hub also makes for a lot of job opportunities especially in construction or the financial sector. Other expatriates work in real estate. With one of the highest per capita incomes in the world, the UAE is a breeding ground for internationally operating companies.
In the survey, Italy came first for its rich culture and 10th for the ease with which expats integrate into their new communities. Earning potential for expats is high, especially in executive roles at multinationals. Local businesspeople have plenty of experience dealing with foreign partners especially with those who look for the real Made in Italy.
Apparently these two realities have nothing to share but, between Italy and the Gulf country, the relationship is strong.
In September 2007, during a ceremony after being awarded the Italian Stella Re prize, the UAE minister for economy Sheikha Lubna Khalid Al Qasimi described the interest of the UAE government in boosting cultural and economic ties with Italy:
“With thousands of expatriate Italians living in the UAE, our governments are continuing to actively promote bilateral investments and increase the opportunities for further cooperation between our two countries”
Italian cuisine is widespread throughout Dubai, with a large number of Italians running restaurants. In 2008, the Italian embassy in Abu Dhabi arranged an exhibition of the 2006 FIFA World Cup trophy (won by Italy) to celebrate Festa della Repubblica, the national day of Italy; the rare event was organized in the beautiful Emirates Palace hotel.
Dubai is also the chosen destination for expatriates because of the international atmosphere, as well as the advantages of its free trade zones. As the business center of the Persian Gulf, Dubai offers all sorts of luxuries and pleasantries.
Moreover the Embassy of Italy in the UAE set a special event for all the Italian citizens.
“Discover the other Italy” a 210-photo-exhibition in which the relationship between the two countries has strengthen its routes.
The exhibition started on June 3rd until June 20th. The ribbon-cutting ceremony in the presence of the Italian Ambassador Giorgio Starace and the curator of the Lorenza Scalisi was celebrated at the Nation Towers Mall in Abu Dhabi.