75% of UK businesseseyeing Dubai for overseas expansion in a post-Brexit and Trump administration era
Emerging markets are becoming increasingly attractive to 63% of UK businesses,with 75% eyeing Dubai as an overseas business location to expand into
- New research by DMCC (Dubai Multi Commodities Centre)reveals thatjust under half (42%) of UK businesses have more appetite for overseas expansionin the post-Brexit and Trump administration era
- Amongst the top reasons for eyeing overseas expansion, include: emerging markets becoming increasingly attractive (63%), business need for a global presence (47%), availability and wealth of overseas talent (44%), too much uncertainty in the markets and the UK no longer being an attractive option (36%)
- Out of the UK businesses open to expanding into overseas markets, 40% would consider the Middle East and 75% would consider Dubai as a location to expand into
As the nation awaits the triggering of ‘Article 50’, the uncertainty over Brexit is making UK businesses more open to overseas expansion,with 42 per cent of UK businesses confessing to having more appetite now than previously to expand their business presence overseas. That’s according to new research released today by the DMCC, a Dubai Government entity on trade and enterprise.
Amongst the top reasons for UK businesses eyeing overseas expansion, include: emerging markets becoming increasingly attractive (63%), thegrowing business need for a global presence (47%), availability and wealth of overseas talent (44%), and too much uncertainty in the markets with the UK no longer being an attractive option (36%).
Out of the UK businesses open to expanding into overseas markets, a staggering 75% say they are eyeing Dubai as a possible overseas location to expand into. And out of the UK businesses that are still undecided, 40% say they would consider the Middle East as a territory to have a presence in if they are open to overseas business expansion.
And amongst the UK businesses that are still hesitant about overseas expansion, 34% say it is because their business is not applicable for an overseas market, however certain features couldmake it more attractive for them to consider overseas business expansion. For 43% of UK businesses, tax free incentives would make it more attractive to expand into overseas markets,and for 29%, the ease at which they can arrange paperwork (trade license, visas, office space) would help them consider an overseas expansion.
We have on hand the CEO of the DMCC, GautamSashittal who will discuss how the Dubai Multi Commodities Centre is offering help to UK businesses looking to expand overseas into the Middle East market.
The following is available for live and pre-recorded down the line or studio interviews on 20th March:UGGESTED
- GautamSashittal, CEO, DMCC
- Ben Dansie, CEO, Omobono
Please note Guatam will be in the UK on 20th March and will be available for down the line interviews then. In addition, Gautam will be available for pre-recorded interviews up to Sunday 19th March, and then at various times post this.
- What has your recent research shown about UK businesses’ attitudes to ME expansion; did any of the results surprise you?
- In comparison to Europe and the USA, what benefits does Dubai offerUK businesses looking to expand overseas?
- What support does DMCC offer businesses when they look to expand into Dubai?
- What are your tips and advice for other businesses looking to expand into the region?
DMCC is an authority on trade, enterprise and commodities in Dubai.
We facilitate trade through our Free Zone, the UAE’s largest and fastest growing, with over 13,000 member companies; commodity exchanges like the Dubai Gold& Commodity Exchange (DGCX); legal and regulatory frameworks; and our real estate offering. We are also developing the ‘Burj2020 District’ as part of our DMCC expansion strategy to provide businesses with a commercial property offering unique to the Dubai marketplace.
Awarded the Global Free Zone of the Yearby the Financial Times fDi magazine, DMCC is an ideal place to set up a company quickly and grow business beyond Dubai’s borders providing a global gateway for trade.