A total of 9,062 companies joined Dubai Chamber in the first six months of the current year.
Business Bureau, Gulf Today
A total of 9,062 companies joined Dubai Chamber of Commerce and Industry as new members in the first half of 2019, marking a year-over-year (y-o-y) increase of over 22% and bringing the organisation’s total membership to over 240,000.
The number of international delegations visiting Dubai Chamber rose 51.7% y-o-y to 1,094 over the same period, while a 7.5% growth rate was recorded in the number of ATA Carnets issued and received in the UAE, with the number totalling 3,060.
The total value of the goods for which the ATA Carnets were issued and received surged 57% to Dhs1.93 billion in H1-2019 compared to the same period in 2018 driven by activity within the meetings, incentives, conference and exhibitions (MICE) sector in the UAE.
During the first six months of 2019, Dubai Chamber stepped up efforts to promote Dubai as a global business hub by participating in 60 events in 46 cities around the world. These activities represent a 46% increase in the number of international events attended by the Chamber compared to the first half of 2018 and a 43% uptick in the number of cities covered by the organisation’s promotional campaign.
Between January and June 2019, Dubai Chamber’s international offices held a total of 970 meetings with companies and investors interested in establishing businesses in Dubai, registering a 101% increase compared to the 482 meetings held in the first half of 2018.
The sharp increase in the Chamber’s international activities comes as the organisation rapidly expands its global presence through new representative offices in promising markets around the world. Dubai Chamber currently operates offices in China, India, Azerbaijan, Ethiopia, Kenya, Mozambique, Ghana, Brazil, Panama and Argentina.
Hamad Buamim, President and CEO of Dubai Chamber, noted that the latest performance figures signal the success of Dubai Chamber’s strategy and efforts, as well as a growing confidence in Dubai as a preferred investment destination and world-class business hub, adding that the various business-friendly measures and initiatives introduced in Dubai by the government over the last year have enhanced the emirate’s attractiveness and economic competitiveness on a global scale.
“Despite global challenges, Dubai continues to attract companies and investors from around the world and this trend underlines the emirate’s strong appeal for foreign investment and its ability to ensure its sustainable growth, guided by the wise leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai,” said Buamim.
Dubai Chamber’s President and CEO added: “Moving forward, we will continue to explore new ways to deliver value to our members and identify new business opportunities abroad which offer them the most potential, while we push ahead with exciting initiatives and projects that aim to further improve ease of doing business in Dubai and strengthen the emirate’s value proposition.”
Meanwhile, Internet Food and Beverage sales in the UAE have grown at a compound annual growth rate (CAGR) of 21% between 2015 and 2018, according to a new analysis issued by Dubai Chamber of Commerce and Industry.
The analysis, based on data from Euromonitor International, a strategic market research organisation, and Nielsen, a global measurement and data analytics company, points out that online food retailing was estimated to be valued at around Dhs 360 million in 2018 compared to Dhs 205 million in 2015, according to the E-commerce in the UAE Food Retail Market report, Euromonitor International 2019.
The report breaks down e-commerce sales in the UAE into three key categories, with each one having shown steady and consistent levels of growth since 2015. The first is e-commerce companies that conduct their retailing business almost entirely online, while the second is traditional Mass Grocery Retailers (MGRs) and the third is delivery companies whose business model is to transport a product from an existing store or restaurant to buyers’ homes.
Using statistics from the Nielsen Connected Commerce Report 2018 and the Nielsen Connected Commerce Global Survey 2018, Dubai Chamber’s analysis reveals that from 2017 to 2018, the percentage of people using online channels to order delivery meals around the world increased from 31% to 33%, the percentage of people ordering fresh groceries to their homes increased from 24% to 26% and the percentage of people ordering packaged groceries increased from around 27% to 30%.
These trends, which apply to the UAE, point to a potential array of opportunities for new businesses in the UAE, based on three main factors: the entry of MGRs in the online food delivery market, restaurants having increased their capacity to deliver products, and the proliferation of mobile phone applications making it easier for customers to order food.