Dubai
Start-ups and small, micro and medium enterprises (SMMEs) are expected to be the biggest beneficiaries of Dubai’s fulfilment of its tourism strategy, as well as the hosting of Expo 2020, according to Dubai’s tourism chief.
“Entrepreneurship — big or small — is one of the most globally consistent and relevant phenomena, redefining the economic landscape in the developed and developing world. As such, the targeted doubling of tourism numbers, coupled with human capital development, are major contributors to sustainable growth,” said Helal Saeed Al Merri, director-general of the Department of Tourism and Commerce Marketing (DTCM) and chief executive of Dubai World Trade Centre (DWTC), during the Entrepreneurs’ Organisation (EO) event in Dubai on Thursday.
During the event, Al Merri said how Dubai’s aim to welcome 20 million visitors by 2020 will lead to strong business avenues for entrepreneurs and SMMEs as the diversification of service offerings grow to accommodate the expected influx.
Small and medium enterprises (SMEs) represent more than 90 per cent of all Dubai-registered companies, accounting for 42 per cent of the labour force and contributing 40 per cent of the emirate’s gross domestic product (GDP).
“We want to make sure that the increased spectrum of opportunities being created across the tourism infrastructure and service sector value chain actively attracts innovative and dynamic businesses — both domestically and internationally,” Al Merri said.
He added that DTCM will work with policymakers and the business and investment community to enable the start-ups and SMMEs sector to thrive.
“Dubai has always been representative of an economy built on the strength of Public-Private Partnerships (PPPs) and as we move towards the UAE’s Golden Jubilee in 2021, we expect to harness the full potential of the young and high-growth businesses around the world. We offer a very strong and highly democratised proposition for Start-ups and SMMEs — from access to tools, infrastructure, policies and the wider ecosystem, through to options for full foreign ownership across our many free zones. As a strategic priority for the emirate, we will continue to work very closely with policymakers and the international business and investment community to enable this sector to thrive moving forward,” Al Merri said.
