Dubai second-best city for expat start-ups worldwide

29 Sep 2015

The UAE is among top 10 countries globally for expats while Dubai is ranked second-best city in the world after Singapore for expats looking to start a business, a survey revealed.

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.

HSBC`s research shows that expat entrepreneurs are being drawn to the world`s financial hubs, with a vast majority saying that Singapore (87 per cent), Dubai (86 per cent), Hong Kong and London (both 85 per cent) are good places to start a business, far outpacing the global average of 56 per cent.

A high level of confidence in the local economy is another reason that makes these cities attractive, with 56 per cent of expats in Dubai citing this sentiment, while over two-thirds (68 per cent) say that the emirate also offers political stability, the report said. "These attitudes appear to be well founded as the UAE ranks 22nd globally out of 189 countries in the World Bank`s Ease of Doing Business index, scoring well in areas such as paying taxes, trading across borders, dealing with construction permits and registering property," it added.

In addition to the opportunities for career progression, the UAE is ranked highly for wage growth. According to the survey, expats say that on average they earn $124,000 per annum, which is nearly 20 per cent above than the global average ($104,000 per annum).

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