An ever-growing population has resulted in an increased demand for high-quality and accessible healthcare services in Dubai. According to statistics, healthcare spending in the GCC is estimated to reach $69 billion by the year 2020. Realising this mammoth potential, many corporates and entrepreneurs are eyeing the Dubai markets for healthcare opportunities. Dubai also sees a large population of expats from all over the globe because of its rapidly growing economy linked to oil.
With state-of-the-art facilities, modern hospital complexes, and technologically advanced equipment, Dubai’s healthcare sector gives you more reason than one to invest in it.
- Infrastructure: The UAE has been positioned third among the top destinations for infrastructure investment worldwide as Dubai continues to gear up for Expo 2020. With best quality roads, infrastructure, and other facilities, Dubai provides an attractive option to expatriates looking for business startups. It is well-positioned to reap the benefits of the best infrastructure leading to improved business confidence globally.
- Population: Presently, healthcare services in Dubai are based on a young demographic profile, where almost 70% of the population is below the age of 40. But when we fast-forward this to 2035, this population will be over 40 years and will increase significantly the need for healthcare facilities and change the overall healthcare dynamics. Keeping this multiplier effect as the base, it is beneficial if we invest in the healthcare sector of Dubai with this long-term vision in mind.
- High Return: The advanced facilities and high-quality service provided by the hospitals in Dubai appeal to residents outside the UAE as well. With liberal travel policies, the Dubai healthcare market will benefit by providing their healthcare services to residents coming from outside Dubai. This will prove to be one of the most profitable ventures in Dubai for the foreseeable future.
- Climate: Dubai is home to a wide population of expatriates. The climatic condition can be extreme for some and lead to many health disorders. Health issues like sunburns and dehydration are very common in Dubai and further stress on the need for adequate healthcare facilities in every vicinity.
- Medical Insurance: According to the new legislation of Dubai Health Authority, all the residents, as well as expatriates and their dependents must have medical insurance. While the Emiratis are covered under Health Card schemes, in the case of the expats, they are covered by private health insurance schemes. Since the medical expenses will now be covered under the medical insurance, people will now be less hesitant to visit medical facilities.
- Medical Tourism: The government offers continued support to medical tourism through the launch of initiatives like Dubai Portal for Health Tourism (DXH) website. Through this website, foreign nationals can travel to Dubai for their medical needs and choose from a wide range of specialties and services.
- DCC Company Formation Benefits: Established in 2002, Dubai Healthcare City (DHCC) houses pre-eminent healthcare providers and offers the following benefits:
- 100% ownership to the investors
- No tax for 50 years
- No customs duties for goods and services
Healthcare providers registered with DHCC are allowed company formation in DMCC as part of the new MOU signed recently.
- Government Rules and Regulations: Lastly, the transparency in government rules and regulations provide a healthy investment climate in Dubai. Medical tourism, mandatory health insurance schemes coupled with a strong infrastructure provide a strong foundation for future healthcare investors in the country.
Get in touch with us if you are looking for company formation consultants in Dubai and wish to invest in its healthcare sector.