The Dubai Chamber of Commerce, one of the three chambers operating under the umbrella of Dubai Chambers, recently revealed that Indian businesses topped the list of new non-Emirati companies joining the chamber during the first half of 2024, with 7,860 new companies.
The Chamber’s recent analysis highlights Dubai’s strong ability to attract direct investments from India and underlines the emirate’s growing appeal among international businesses.
Following India came Pakistan with 3,968 new companies joining the chamber in H1 2024. Meanwhile, Egypt came in third with 2,355 new companies. During the first half of 2024, 1,358 new Syrian companies also joined the Dubai Chamber of Commerce, placing the country fourth among the top nationalities of new member companies.
In fifth place came the United Kingdom with 1,245 new companies, while Bangladesh ranked sixth with 1,119 new Bangladeshi companies joining the chamber. Iraq secured seventh place on the list with 799 new member companies, while China claimed the eighth spot with 742 new companies joining the Dubai Chamber of Commerce’s membership.
Sudan ranked ninth with 683 new Sudanese companies while Jordan claimed the 10th spot, with 674 new companies joining the chamber’s membership during H1 of 2024.
Trade and repair services sector gains traction
In terms of sectoral distribution, the trade and repairing services sector ranked first, accounting for 41.5 percent of all new companies joining the Dubai Chamber of Commerce in H1 of 2024. The real estate, renting and business services sector came in second place, attracting 33.6 percent of the companies.
Meanwhile, the construction sector came in third place with 9.4 percent of the newcomers. In 4th place came the transport, storage and communications sector with 8.4 percent of the total, and in 5th place came the social and personal services sector which attracted 6.6 percent of the new member companies.
Read: DMCC accounts for 15 percent of total FDI in Dubai, 7 percent of GDP in H1 2024
Construction sector posts strongest growth
The construction sector demonstrated the strongest growth among the top five sectors of the new companies joining the Dubai Chamber of Commerce in H1 of 2024, registering a growth of 23.5 percent annually. The transport, storage and communications sector followed closely, achieving an annual growth rate of 13.6 percent. Meanwhile, the real estate, renting, and business services came in third, recording a 9.5 percent annual expansion.
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