Monday, Jul 11, 2016

Dubai: Dubai is among the top global locations for entrepreneurs to do their stuff, being ranked fourth in Knight Frank’s latest rankings. While Hong Kong and London were locked into the top spots, Dubai came in 4th in terms of importance to entrepreneurs, along with Geneva, Sydney and Vienna. Vancouver was in third spot.

The ‘Global lifestyle Review’ is based on assessments of the most important lifestyle elements individuals consider when relocating their businesses and families overseas. Factors ranged from cost of transport and distance to airport; to number of Michelin star restaurants and cost of beverages in five-star hotels. Another measure relates to whether there is a major international airport within 20 kilometres and a direct flight from any three of these destinations — London, Paris, New York, Singapore and Moscow.

“Businesses and young entrepreneurs are focused on the ease of doing business, political safety and security, availability of high-quality formal entertainment such as fine dining, all of which Dubai offers,” said Dana Salbak, Associate Partner and Head of Research at Knight Frank. “So it’s natural to see clients motivated and drawn to the city.

“This is of course in addition to the tax-free environment and wide-spread of free-zones which facilities business and trading activities.”

Staff Report

Gulf News 2016. All rights reserved.