There is a reason that most tech companies and globalized businesses set up shop in the Middle East, particularly Dubai and Sharjah. If you look into the history of businesses in the Middle East, you will see that conditions were even more favorable just 5 years ago. Middle Eastern countries like Dubai, Saudia Arabia, Qatar, and more have only recently imposed corporate and business taxes. However, when compared to the rest of the world, these taxes are very low. Taxes range from 5% to a maximum of 15% and even then, there are conditions in which they can be waived. Dubai forexample, only taxes 9% of net profits from foreign investment companies and businesses alike.
The Arab GDP accounted for over $8500 billion in 2022, which accounted for more than 5% of the global GDP. Now given that a major portion of this is from Saudia Arabia and the UAE. You can easily find locations that can help your business grow. Like any other region in the world, a little market research can go a long way. Since surveys would have to be conducted in Arabic, it is best to hire a professional translation services provider.
The Language Barrier
The language barrier for doing business in the Middle East can be broken by availing of professional Arabic translation services. Since the majority of the Arab population prefers their own language over any other. However, that is a small price to pay given how readily the Arab community buys foreign products. Moreover, if you plan to set up offices or shops you will need Arabic-speaking employees. The Middle East gets a fair amount of tourists, so you are likely to meet people from around the world. Sometimes shop owners hire multilingual staff members for this reason. But do not worry about finding such people, as people from around the world move to the Middle East for jobs.
The SEO Perspective
These days, having a website and social media presence is key to setting up shop. When companies set up businesses in new regions, they usually create new social profiles specific to that region. Moreover, they use that region’s language in these social channels. Websites are also translated usually through professional translation services. Now these factors not only help you establish a two-way communication system between you and your customers. But also helps improve your online rankings in that region. Search engines and social media algorithms are all about user preferences. People in Arab regions prefer their content and their shopping in Arabic. If you have ever spent time in any Arab country you will be very aware of that. So because of this region translating your website and social media channels will increase your visibility.
Moreover, SEO once built does not cost you money. It becomes a source of free traffic and potential customers. Many websites are also easily approved for AdSense. This helps people earn some passive income on the side. Another factor is that people making searches in the Arabic language will also get results in the Arabic language. Hence, a non-translated site is very unlikely to show up. Websites can be easily translated and can support multiple languages. Airbnb, Netflix, and Coke are great examples.
Edge Over the Competition
There are many businesses operating in the UAE that have not translated their content and marketing strategies. However, most of them are also trying to cater to the foreigners living in the UAE. You can potentially capture more of the market by using professional Arabic translation services. The Arab people feel more comfortable using their native language. Moreover, the education system is also majorly in Arabic. So this trend is not going to change anytime soon. Even though English is a mandatory subject in most Middle Eastern Arabic countries, but is still not taught at a big level.
What Industries are Booming in the Middle East?
If you are planning expanding or launching a business in the Middle East, it can be useful to know what industries are the most profitable ones. Professional translation services for your content will only get you so far. But investing in high demand sectors improves chances of churning out a profit.
- Education
- IT and SaaS products
- Tourism
- Construction
- Banking
- Hotels and restaurants
- Travel
- Law
- Consultancy Firms
- Healthcare
- Skincare
- Fashion
- Marketing and Advertising
- Secuirity Services
It is best to do your research before investing in the Middle East. Many of the industries mentioned above have sub branches within them. Going into niches can be even more profitable. The language gap is here to stay so get the best professional Arabic translation services that transcreate your identity.
Conclusion
The Middle East economy has moved on from oil production and oil based products. Tourism, education, construction, fashion, and technology are rapidly becoming just as important and profitable. Moreover, the law and social welfare systems have attracted many foreigners to invest and move into the Middle East. The only major problem is the langauge barrier, otherwise success is only a region away.