23 Apr Dubai economy witnesses a surge in renewals and issues of licenses in 2017
The Business Registration and Licencing (BRL) sector of Dubai have seen a total of 288,878 transactions. This data also includes the issuance of 19,877 new licenses forcompany registration in Dubai.The “Business Map” has recorded this activity of BRL in its digital platform.
The “Business Map” records the monthly activity of BRL. It aims to reveal the economic situation of Dubai by providing crucial data on every category of licenses. This statistics also includes numbers, group-wise distribution, and the investor trends in Dubai.
The renewal of licenses accounted for 128,965 transactions in the year 2017. There were also 26,029 initial approval transactions and 38,223 trade name reservations. The section of auto-renewals saw 47,125 transactions. The BRL also issued 684 instant licenses and 616 e-trader licenses.
The data includes 24,123 commercial permits where 35.1 percent of this statistics were banner advertisements. This percentage reveals an intense competition among businesses in advertising their products and services.
The promotional campaigns had a 23.3 percent share, trailed by 22 percent of discounts, special offers, and clearance sale. The percentage of summer promotions were 14.0 percent and exhibitions were 2.5 percent.
The issuance of new licenses was as follows:
- Commercial sector – 64.3 percent,
- Professional sector – 33.8 percent,
- Industrial sector – 1.1 percent and
- Tourism sector- 0.9 percent.
The Dubai economy had also witnessed that the outsourced service centres occupied a significant position for service delivery at almost 80 percent in 2017 (231,902) of the BRL transactions in 2017.
These percentages of diverse business activities are a clear testament to the fact that Dubai is a favoured destination for businesses regarding competitiveness and sustainability. The other services industries accounted in this report are:
- Trade and repair services at 33.8 percent,
- Real estate, leasing, and business services at 22.4 percent,
- Building and construction at 15.2 percent,
- Community and personal services at 10.8 percent,
- Hospitality and hotels at 6.3 percent,
- Transport and storage at 3.2 percent,
- Manufacturing at 2.9 percent,
- Financial brokerage at 2.2 percent,
- Health, labour, and agriculture each at 0.7 percent,
- Education at 0.6 percent.
In the midst of the new licenses issued in 2017, 12 percent of the licenses were to women.