Dubai, renowned for its cutting-edge skyline and vibrant markets, is swiftly evolving into a global trade powerhouse. Its geographical advantage, pro-business policies, and top-notch infrastructure have attracted traders worldwide, including those from London.
Sitting at the crossroads of East and West, Dubai serves as a pivotal hub for trillions of dollars of business and investment. Its non-oil trade volumes surged by 10% in the first half of 2021, reaching 48 million tonnes. With major partners like China, India, and the USA, Dubai holds a significant position in the global economy.
Furthermore, Dubai's investments in banking infrastructure and futures trading have shifted its focus from crude oil to a major energy trading centre. Dubai’s strategic geographical position, advanced infrastructure, and favourable business climate make it a magnet for traders worldwide.
Attracting London traders
While London remains a dominant force in global trade, thanks to its substantial commodities market and skilled traders, Dubai’s ascent cannot be ignored. Its strategic initiatives have attracted businesses and professionals, making it a robust competitor in the global commodities market.
The city's forward-looking strategies have drawn an increasing number of traders and companies, indicating Dubai’s growing significance in the trading world.
Some of the key reasons commodity trading has shifted to Dubai
Geographical advantage: Dubai’s location as a gateway between East and West offers easy access to emerging markets in Asia, Africa, and the Middle East, presenting new opportunities for traders.
Advanced infrastructure: First-rate ports, logistics facilities, and a strong financial ecosystem in Dubai support efficient trading operations and connectivity for traders.
Favourable business Environment: Dubai's pro-business policies, low taxes, and flexible regulations foster a trading-friendly environment, encouraging innovative strategies.
Diverse trading opportunities: Access to various commodities like gold, oil, precious metals, and emerging market goods allows traders to diversify portfolios and manage risks effectively.
Market growth potential: Dubai’s rapidly growing economy, government initiatives, and stable political environment present significant potential for market growth, offering traders opportunities to capitalize on this upward trajectory.
Looking to hire commodity traders?
For organizations looking to attract talent to Dubai, working with a talent partner is essential as you'll gain access to a top-tier, international talent pool. See how our services can benefit you today.
Looking for career opportunities?
Become part of a city that’s investing heavily in banking infrastructure and developing exchange-traded futures. Submit your CV today and be part of the exciting growth that many in your industry are now also exploring.
For anyone looking to relocate to the United Arab Emirates, we have created a comprehensive relocation guide, packed with essential information and insights to ease your transition.