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Tourism is a major economic source of income in Dubai and part of the Dubai government's strategy to maintain the flow of foreign cash into the emirates. [19] The tourism sector contributed in 2017 about $41 billion to the GDP, making up 4.6% of the GDP, and provided some 570,000 jobs, accounting for 4.8% of total employment. [20]
In the UAE, free zones offer specific tax benefits for businesses operating within them. Companies in these zones benefit from: Corporate Tax Exemptions: Free zone companies are generally exempt from corporate taxes for a period of 15 to 50 years, which is renewable. This exemption is a significant incentive for businesses looking to establish ...
However, since the late 2010s, an influx of high-net-worth individuals significantly increased the cost of living, especially housing and private school fees. The UAE went from being the 90th most expensive destination for expatriates in 2013 to the 31st in 2023. [14] As a result, thousands of middle-class workers left the country. [14]
For the best of Dubai’s luxury living, you can’t do better than these extravagant hotel suites and exclusive villas — some of the city’s, and the world’s, most extravagant and expensive ...
Get breaking Business News and the latest corporate happenings from AOL. ... The cost of a home soared in nearly 90 percent of US cities, study shows ... is down 17.5% since reporting fourth ...
The United States has an embassy in Abu Dhabi and a consulate-general in Dubai which provide services to American citizens. There are also expatriate and business organizations, such as the American Women's Association in Dubai, [4] the American Women's Network of Abu Dhabi [5] an American Chamber of Commerce Abu Dhabi [6] and an American Business Council of Dubai and the Northern Emirates.
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Others include the Dubai Airport Freezone (DAFZA; the Dubai internet City; and the Dubai Media city. [4] In April 2021 Dubai CommerCity launched, a free zone dedicated to e-Commerce. [5] The International Free Zone Authority (IFZA) is one of the most cost-effective and fastest-growing free trade zone in Dubai.