Abu Dhabi is the United Arab Emirates fastest emerging commercial hub and the emirate showing the most promise currently. As the capital of the UAE, it is the nexus for broad impact changes in the nation’s economic policy. Additionally, the government is also increasing its efforts in creating profitable business opportunities in Abu Dhabi to ensure greater inflow of wealth.
Government officials have already outlined long-term missions and objectives with the sole intention of supporting businesses and entrepreneurs in starting their operations in the UAE. The Abu Dhabi Economic Vision 2030 is a 22-year strategy to transform the Emirate’s economy. This will be done by reducing dependency on oil (Abu Dhabi holds 10% of the world’s oil reserves) and moving towards more knowledge-based industries as an economic source.
The end goal is to create a sustainable business environment to boost the economy on a long-term basis while incorporating an innovative, global industrial strategy.
Abu Dhabi Economic Vision 2030: Strategy
The Abu Dhabi Economic Vision 2030 is an economic roadmap for the Emirate’s commercial progress. Abu Dhabi’s public sectors and join public-private sector entities have come together in an effort to visualise this strategy. Therefore, the immediate priorities of the Abu Dhabi government are to:
- Build an open, efficient, effective, and globally integrated business environment
- Integrating a fiscal policy that adapts to changing economic cycles
- Creating a resilient monetary and financial market environment with manageable levels of inflation
- Improving the efficiency of the labour market
- Infrastructure development that is sustainable and resilient and can support economic growth projections
- Encouraging a skilled and highly productive work force
- Enabling financial markets to become the key financiers of economic sectors and projects
Abu Dhabi’s GDP in the first three quarters of 2022 show a growth of 10.50% which is the highest in the Middle East and North Africa (MENA) region. Since its increase in economic standing, more and more businesses are flourishing in the emirate. Here are some of the most profitable business ideas in Abu Dhabi to get you started.
Top 7 Profitable Business Ideas in Abu Dhabi
Abu Dhabi is home to some of the most talented minds globally with innovative business ideas. Also, the luxurious and world-class infrastructure makes it conducive to entrepreneurs to bring their business ideas to life in Abu Dhabi.
1. Look into E-commerce Business Ideas in Abu Dhabi
As an industry, the presence of e-commerce can be felt across multiple sectors, ranging from food, electronics, fashion, and more. With lives becoming increasingly dependent on the internet, e-commerce apps are most peoples’ choice for buying stuff. Abu Dhabi itself is home to over 1.5 million tech-savvy consumers. Therefore, it does not come as a surprise that the UAE’s e-commerce market is positioned to achieve 9.2 billion $ by 2026.
As a business idea in Abu Dhabi, it is gaining much popularity and momentum. The expansion of the e-commerce industry can also be attributed to the fact that it is an easy market for potential contenders to enter. It is one of those rare sectors which benefits all types of businesses, has government support and a rapidly increasing consumer base.
2. Hospitality and Tourism Business
Given the massive popularity of Dubai as a premium tourist destination, Abu Dhabi officials are also tapping into the same. The Abu Dhabi Vision 2030 aims to make the emirate a global tourism project which can attract millions of visitors across the globe. As per DCT statistics, Abu Dhabi saw an influx of 18 million visitors in 2022 which is a rise of 13% from 2021. Additionally, hotel occupancy rates reached 70% which is higher than the Middle East average of 67%.
The provision of hospitality and tourism services is clearly a business opportunity worth venturing into. As a result, there are numerous services that investors can create a potential business from.
3. Restaurants, Cafes & Catering Business
Abu Dhabi has a capital rich population with a strong purchasing capacity. Therefore, eating out and exploring new food joints is all the rage right now. The diversity of the nation ensures that there is space for multiple cuisines and dining experiences. Also, with the limitations surrounding the Covid-19 pandemic now receding, it is possible to hold large gatherings and events. Thus, this makes investing in a catering business a smart move.
4. Logistics and Trade Business
Abu Dhabi is home to several important seaports such as Khalifa Port and Zayed Port which are critical in increasing global trade connectivity. UAE’s expansion is also heavily dependent on a stringent import/export trade. Its strategic positioning and access to Europe, MENA and Central Asia regions makes Abu Dhabi a hub for trade and logistics.
5. Real Estate – Top Business Ideas in Abu Dhabi
Transactions in the real estate sector in Abu Dhabi in the first quarter of 2023 were worth AED 27.9 billion (USD 7.59 billion) across 5,472 deals. Additionally, real estate businesses can work within traditional methods of buying and selling properties or providing brokerage services. Or they can also explore specialty services such as home staging property management, interior design, holiday rentals etc.
6. Tech Services
Abu Dhabi, in alignment with UAE’s vision to become a tech forward nation, is moving to become a full-fledged smart city. The integration of innovative technologies such as the Metaverse, AI, blockchain are soon to permeate to all walks of life such as government agencies, healthcare services, transport and infrastructure, etc.
Free zones such as the Abu Dhabi Global Market and the Twofour54 free zone are home to some of the most forward-thinking tech businesses in the fields of AI, media, entertainment, IT and digital services. These regions are home to numerous start-ups and help them raise funds and grow their base of operations.
7. Cleaning Services – Best Business in Abu Dhabi
The affluence present in Abu Dhabi leans towards exceptional levels of cleanliness and maintenance. The city, with its gleaming skyscrapers and swanky villas are a testimonial to luxury. Therefore, they need continuous cleaning to maintain their functionality. Cleaning companies in UAE can start with both minimal initial investment, skilled labour and sufficient equipment. Cleaning services can be targeted to both residential and commercial cleaning. Additionally, there is a huge scope for specialised cleaning services such as vehicle cleaning and maintenance, ducts, hosiery cleaning, etc. With more and more people venturing out into the workspace, there is a need for maids and housekeepers. Opening an agency to provide this service is an excellent small business idea in Abu Dhabi.
Contribution of non-oil sectors to Abu Dhabi’s GDP
In case you are wondering about the economic benefits of starting your business in Abu Dhabi, here are last year’s statistics for certain non-oil sectors and their impact on the emirate’s GDP. These reports, prepared by the Statistics Centre – Abu Dhabi (SCAD), are a clear indication that the nation is moving away from its fiscal dependency on its oil reserves.
Total contribution of non-oil sectors to GDP – 50.3%, with an increase of AED 39 billion (compared to same period in 2021)
Q3 2022 total – AED 417.3 billion
Sector-wise differentiation (All growth is presented in percentage)
- Real Estate – 20.3%
- Accommodation & Food Services – 20.2%
- Wholesale & Retail Trade – 17.4%
- Transportation & Storage – 11.4%
- Manufacturing – 8.1%
- Finance – 6.9%
Read Article: The Best 27 Business Ideas and Opportunities in Dubai
Conclusion: Exploring the Top 8 Business Ideas in Abu Dhabi
The United Arab Emirates is among the best places in the world to settle and start your life from. All its emirates, especially its capital Abu Dhabi are experiencing rapid economic growth thus boosting the development of various industries. The presence of investor-friendly government initiatives, liberal tax incentives, and access to a global infrastructure ensures that entrepreneurs have the necessary resources they need to thrive.
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So, don’t wait and watch your dream business manifest itself with the help of the experts at Shuraa Business Setup. Book a free consultation with our corporate advisors by calling us at +971 4 4081900. or WhatsApp us on +971 50 7775554 and Email: [email protected].
