Dubai and Abu Dhabi are among the top ten cities in the world for entrepreneurs, according to analysis by financial technology experts SumUp.
According to its research, 20 per cent of businesses have considered relocating and the UAE is a hub for business owners, said SumUp, which analysed taxes, quality of life, internet speeds, networking opportunities and more, to uncover the best cities for entrepreneurs in the world.
The study revealed that Dubai is the third best city in the world for entrepreneurs to live. Standing out for its significant tax advantages: no capital gains tax and no income tax even for the highest earners, along with a low VAT of just 5 per cent, Dubai is a great location for maximising profits.
Dubai lures entrepreneurs with tax and lifestyle benefits
The entrepreneurial spirit in Dubai is higher than in any other city analysed by SumUp, with monthly online searches for “How to make it in business” averaging at 7,670, as well as 72,500 millionaires already residing in the city making it a great place to network with like-minded individuals, pursuing similar goals.
Dubai’s booming property market and favourable regulations make it a hotspot for entrepreneurs in the real estate sector. It also boasts the highest quality of life score (174.82) among the top five cities.
Abu Dhabi ranked as the seventh best city in the world for entrepreneurs and is home to 24,200 millionaires, and offering the same advantageous taxes as Dubai.
Abu Dhabi boats the highest quality of life score of the top 10 (197.22) as well as a new business density of 2.5 per 1,000 people.
The best city in the world for entrepreneurs, according to SumUp analysis, is New York, USA. With the highest number of millionaires globally (349,500), New York offers a thriving environment for business growth.
Second on the list, and just ahead of Dubai, is London. UK.
Top 15 global cities for entrepreneurs according to SumUp
- New York
- London
- Dubai
- Singapore
- Hong Kong
- Chicago
- Abu Dhabi
- Paris
- Los Angeles
- Miami
- Sydney
- Toronto
- Dallas
- Amsterdam
- Melbourne
