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Wed 22 Mar 2017 02:26 PM

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More UK firms eye Dubai expansion post-Brexit

DMCC study shows that emerging markets are becoming increasingly attractive to UK businesses

More UK firms eye Dubai expansion post-Brexit
(Justin Tallis/AFP/Getty Images - for illustrative purposes only)

Emerging markets are becoming increasingly attractive to UK businesses, with 75 percent eyeing Dubai as an overseas business location to expand into, according to a new study.

Research by Dubai Multi Commodities Centre (DMCC) reveals that just under half (42 percent) of UK businesses have more appetite for overseas expansion in the post-Brexit and Trump administration era.

It said that among the top reasons for eyeing overseas expansion included the view that emerging markets are becoming increasingly attractive (63 percent) and a business need for a global presence (47 percent).

Other key factors included the availability and wealth of overseas talent (44 percent), too much uncertainty in the markets and the UK no longer being an attractive option (36 percent).

DMCC said its research showed that out of the UK businesses open to expanding into overseas markets, 40 percent would consider the Middle East and 75 percent would consider Dubai.

Among the UK businesses that are still hesitant about overseas expansion, 34 percent said it is because their business is not applicable for an overseas market, adding that certain features could make it more attractive for them to consider overseas business expansion.

For 43 percent of UK businesses, tax free incentives would make it more attractive to expand into overseas markets, and for 29 percent, the ease at which they can arrange paperwork (trade license, visas, office space) would help them consider an overseas expansion, the research added.

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