UAE - Mubasher: The total number of new business licenses issued in Dubai hiked by 77% to 31,000 during the first half (H1) of 2021, compared to 17,478 licenses in the corresponding period of 2020, as shown by Dubai Economy's report.
The report's results show that the licensing activity in Dubai has surpassed the pre-pandemic levels to record the highest growth rates in the emirate's history.
The higher number of licenses was driven by the government's response measures to contain the coronavirus (COVID-19) pandemic and maintain robust economic growth.
'Invest in Dubai', a digital platform for establishing a business in Dubai, contributed to 25% of new licenses issued during the last five months, with 10,591 investors from 117 different nationalities.
A total of 37% of the new investors that came through ‘Invest in Dubai’ were aged 26-35, while another 35% were aged 36-45.
Meanwhile, the restaurants and cafes category recorded 1,153 new licenses, while the tourism sector welcomed 342 licenses, including 20 new hotels.
Dubai's real estate sector registered 487 licenses in H1-21, up 186% from 170 licenses in the year-ago period.
