International Finance

Singapore, Dubai in tight competition for global entrepreneurship hub

Dubai entrepreneurship
Dubai’s robust infrastructure allows SMEs to thrive while Singapore leads in exim business

Dubai is ranked among the best global cities for entrepreneurship, according to a study published by Movinga. Dubai is ranked for its favourable business landscape, especially in the import and export sector. 

The emirate is ranked ninth after Shanghai in the second position followed by Amsterdam in the third position. Singapore attained the top ranking for import and export business coupled with a well-established logistics ecosystem and an easy access to markets. However, Dubai has outperformed many global cities in logistics, cost and market connectivity. 

Movinga is a German online platform specialising in relocation. 

According to the study, San Francisco is the best city to establish a tech startup, while London and New York take second and third place respectively. While many global cities with affordable real estate are favourable for opening a new restaurant — it can be hard to find good manpower in those places. Another factor to consider is cities where the locals can afford eating out but do not have a restaurant culture versus cities where affordability of eating out is quite low.

Earlier this month, Dubai and LinkedIn collaborated for the launch of Open for Business’ that enables freelancers and SME lenders to add their services to their LinkedIn profiles. This global feature was launched in Dubai owing to its evolving entrepreneurial ecosystem. In 2016, Dubai was ranked among the top five cities for entrepreneurship, according to a real estate firm Knight Frank.  

Dubai is committed to support entrepreneurship through economic expansion that facilities business activities and attracts talent. Four future oriented labs were established in the emirate to focus on aviation, entrepreneurship, blockchain and energy. Dubai’s robust infrastructure ecosystem allows SMEs to thrive — helping establish itself as a global hub for entrepreneurship and innovation. 

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