Business Start-ups in Dubai and Germany. A Comparative Analysis

Seminar paper from the year 2024 in the subject Business economics - Company formation, Business Plans, grade: 1,0, University of Applied Sciences München (Medienmanagement), course: Language Proficiency and Cultural Sensitivity, language: English, abstract: This work focuses on business start-ups and the contextual factors in Dubai and Germany, two significant economic centers. What are the reasons behind this trend? What opportunities and challenges exist for entrepreneurs? The study aims to provide a comprehensive understanding of these two distinct but equally significant business locations. Unemployment, the desire for independence, self-determination, to advance an innovation or the ambition to build up your own business – these are the main motivations for prospective entrepreneurs, and they are indeed becoming increasingly important nowadays. In various parts of the world, a growing number of people are seeking a reorientation and questioning their career prospects. In 2023, the worldwide count of entrepreneurs reached 582 million, and the numbers continue to rise. While entrepreneurship is rapidly expanding globally, numerous business owners tend to show a stronger preference for specific countries. Robust infrastructures stand out as a primary factor influencing entrepreneurs to favor one region over another. Especially one country has emerged as an attractive location for starting a business in recent years: Dubai, a city that has transformed from a small marketplace to a global business area over the previous decades. Dubai is developing faster than almost any other country and the population is growing exponentially. Of the 3.5 million inhabitants, 85% are foreigners. In past times, there also has been a noticeable increase in the number of entrepreneurs and influencers choosing to expatriate to the Persian Gulf emirate. Principally, tax benefits, strong economic growth, security, quality of life, and social cohesion attract people from all over the world to move to the Middle East and establish their companies there. So not only is Dubai one of the top travel destinations globally, but it also attracts international entrepreneurs as a growing economic hub.