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Dubai one of the seven Emirates comprising UAE, is the most widely known and favorite business and tourist destination in the Middle East. The UAE came into being as an independent foreign state on 2 December 1971. The economy of the UAE is primarily based on Oil and Natural Gas with Abu Dhabi the Capital of UAE, leading in production of Oil & Gas with large known reserves. The economy of Dubai is primarily dependent on trading, logistics, construction and contracting businesses. Dubai also has numerous specialized free zones including media city, knowledge city, internet city and the most well known Jabel Ali Free Zone.

Recently Morison Menon did a targeted survey with individual businessmen who have setup business in Dubai and its free zones in the last one decade or who are planning to setup business in there. Our sample size was restricted to 300 businessmen and the survey was carried out during the month of February and March 2011.

Our findings provides interesting insight into merits of why Dubai continues to be the most attractive destination for businessmen wanting to do business in Middle East. The key findings of the survey are as follows:

• More than three forth of the respondents strongly felt that having a business setup in Dubai has helped them to improve their turnover.
• Two-third of the respondents felt that cost of setting up business in Dubai in last couple of years is much lower compared to Singapore or Hong Kong.
• Four-fifth of respondents felt that doing business in Dubai is more beneficial than any other country in the Middle East.
• More than two-third expressed the opinion that operating cost of running a business in Dubai was much lower compared to Singapore.
• Answering the question on Dubai government entities welcoming new business setups, a phenomenal 90% of the respondents expressed satisfaction on the assistance provided to them.
• More than four-fifth of the respondents were happy with the financial incentives provided the government and that being a major reason for them to establish business in Dubai.
• On the talent front, more than three fourth of the business men liked the diversity of the workforce that was available for them to choose from while hiring talent in Dubai.
• On life style options available for them in Dubai, 90% the respondents were extremely happy with the options available for them.
• On supply chain logistics and infrastructure more than four fifth of the respondents felt that what Dubai offered was best in the region and compared well with Singapore.
• On rentals for commercial space for doing business in Dubai, more than three fourth of the respondents felt that rentals after 2008 have become realistic and offer value for money.

The findings of the survey validate the perception that after the economic downturn that affected the global economy in later half of 2008 and early 2009, Dubai has been able to regain the lost ground much better than other countries in the Middle East. This is the best time for new businesses to have a company setup in Dubai as the business climate is most favorable and chances of investments going wrong are rare.