Agenda for food systems and agriculture (COP28)

As part of the process to develop the action agenda for this year’s climate conference, the UAE COP28 leadership unveiled their Agenda on Food Systems and Agriculture. During the final day of the Food Systems Summit in Rome, the COP28 chair, Mariam bint Mohammed Almheiri, the UAE’s minister of climate change and environment and leader of the COP28 food systems, called on governments to demonstrate “leadership” by executing the first Leaders’ Declaration on Food systems, agriculture, and climate action.

In line with their Nationally Determined Contributions (NDCs), National Adaptation Plans (NAPs), and National Biodiversity plans and Action Plans (NBSAPs), national governments are urged by the Declaration to harmonize their national food systems and agricultural plans. Additionally, it will honor nations that are setting the standard by putting food systems at the center of the climate process.

Furthermore, the chair of COP28 urges a broad coalition of stakeholders in agricultural and food systems to quicken ongoing projects related to agriculture, food systems, and climate action. The declaration comes after the UAE government recently pledged in its third update of its second NDC to expedite steps to decrease domestic emissions by 40% by 2030, comparing to the business-as-usual scenario.

The chair of COP28 urges all parties to think about increasing their goals by revising their NDCs, fulfilling past pledges like investing $100 billion for climate change, and supplying what is required for COP28, such as funds and contingencies for loss and damage.

A flagship project that is backed by procurement and financial commitments has also been started as part of this partnership to encourage more widespread implementation of regenerative agriculture across diverse food landscapes. This effort will be co-chaired by the Boston Consultancy Group (BCG), the World Business Council for Sustainable Development (WBCSD), and the United Nations High-Level Champions on Climate Change.

According to COP28 Food Systems Officer Mariam Almeirhi, “The COP28 chair’s pledge of prioritising food systems shows a commitment to addressing pressing global challenges.” COP28 seeks to bring about revolutionary change to guarantee a sustainable future for all through financing mobilization, engagement of non-state actors, scaling up creativity, and national leadership mobilization.

Not only are food systems essential for addressing societal demands and facilitating climate change adaptation, but they also contribute significantly to global greenhouse gas emissions—up to 33% of total emissions, based on the most recent data. In addition to contributing to the loss of biodiversity and ecosystems, current techniques use 70% of fresh water and may have detrimental effects on health in certain situations.

Leveraging national and international mechanisms, such as the Agricultural Innovation Mission for Climate (AIM for Climate), the CGIAR, as well the Commission on Innovation for Climate Change, Food Security, and Agriculture, the COP28 chair called for action to boost innovation in food and agriculture in order to promote both development and climate action.

The chair will choose investments in a select few high-impact technologies in collaboration with partners, with an emphasis on smallholder and climate-vulnerable populations and producers. improving promising appropriate technologies, techniques, and creativity can help all actors in the global food system to adapt and mitigate to increasing risks from rising temperatures and climate shocks. Traditional agricultural practices have a positive impact on food systems and help us respond to the realities of climate change.

The COP28 chair will complement COP26, COP27, and UN food systems initiatives by collaborating with the UN Food Systems Coordination Hub and a wide range of partners to build on the substantial momentum and activities already under way at the global, regional, and national levels in order to advance the food systems and agriculture agenda.

Keeping 1.5°C within reach and adapting food systems quickly to climate consequences are key components of the COP28 agenda, which emphasizes equitable development, sustainable livelihoods, and human well-being. The Global Goal on Adaptation, which is also being advocated for adoption at COP28, places a strong emphasis on food systems and agriculture, according to the COP28 Chair.

With the aid of celebrity chefs like Pierre Gagnaire and Gordon Ramsay, global cuisine, and now its own Michelin Guide, Dubai hopes to become a dining destination.

  • Dubai wants to establish itself as a center for luxury by growing its fine dining industry. It helped to rank first in the Middle East with a Michelin Guide.
  • Gordon Ramsay and renowned French chefs have been drawn to the emirate, and today’s creative homegrown chefs offer fusion cuisine that represents the global aspect of the region. Although French chef Renaud Dutel never imagined that his work would take him to Dubai, the United Arab Emirates, he has discovered that the city is developing into a culinary center.
    Dutel is happy to have “taken the risk” five years after accepting an invitation to work at a posh restaurant in the Gulf financial and tourism center known more for its skyscrapers than its culinary scene.
    Sitting next to a skillet of sizzling lobster, he remarks, “I think Dubai is at the starting point, but is on the way toward becoming one of the top places in the world to come to dine.” Stay is a Michelin-starred restaurant serving French cuisine and is located on the city’s famous man-made Palm Jumeirah island.
    There are almost 13,000 eateries and cafes in Dubai, some of which are already well-known worldwide.
    The first Michelin stars were given to 11 restaurants in Dubai in 2022, and more are expected to join the esteemed group this year. Michelin’s top rating of three stars was attained by only a few, including Yannick Alléno’s Stay, which received two stars.
    Issam Kazim, who works in the tourist and economy department of the local government, stated that Dubai’s gastronomy scene has made the city one of the world’s most vibrant and diverse culinary centres.
    Not as rich in gastronomic history as other Arab states, the United Arab Emirates (UAE) is a five-decade-old federation of seven emirates on the eastern coast of the Arabian Peninsula.
    Historical trading connections with modern-day Iran and Korea have had a significant influence on the meat-heavy Emirati cuisine.In contrast to many Western culinary traditions, it did not experience the “gastronomization,” according to Loïc Bienassis of the European Institute for the Cultural and Historical Study of Food. Still, he believes, it “can be done.” “And political will has a part to play.”
    The city has developed a distinct culinary identity since foreigners now make up a large majority of the native Emirati community.
    Moonrise’s co-owner and head chef, Solemann Haddad, characterized the cuisine as having three distinct flavors: Arabic, Japanese, and European, with a final touch of “100% Dubai.”
    At the age of 27, Haddad, who was born in the city to Syrian and French parents, was awarded the coveted Michelin star in 2022.

    He claims that his recipes capture the multicultural essence of Dubai by fusing ingredients like date syrup with chutney.

    Dubai has become a hub for business and luxury, and now it’s drawing some of the biggest names in food from around the globe, like Alléno and fellow Frenchman Pierre Gagnaire.

    He claims that a fresh, youthful generation of domestic chefs is emerging. “Many of them are becoming well-known throughout the world.”

    In addition to chefs, several of Dubai’s rising culinary stars are restaurateurs, such Omar Shihab, who was born in the United Arab Emirates into a Jordanian family.

    This year, Boca, the restaurant he established, received a Michelin Green Star for sustainability.

    Shihab gets the majority of his goods from the United Arab Emirates, which is remarkable considering that the nation imports more than 80% of its food.

    “Let’s face it, we live in the desert,” he says, “but through our sourcing policy, we prioritise local ingredients.”

    Some 30-40 per cent of fruit and vegetables served at Boca come from hydroponic Emirati farms, and up to 80 per cent of the fish is sourced from the UAE or nearby shores, says Shihab.

    He claims, “We don’t have either local or regional suppliers” for meat and poultry, but we do make sure the farms we depend on are known by name. We know a little bit about their practices, no matter where they are in the world.”

Dubai: The Upcoming Center for Entrepreneurs and Technologists

The United Arab Emirates’ Dubai is quickly rising to prominence in the Middle East as the preferred location for innovators and businesspeople. Due to its hospitable environment and supporting ecosystem, Dubai has become a vibrant destination for startups and rising technology firms, drawing in entrepreneurs from all over the world. Due to its advantageous location, first-rate infrastructure, and business-friendly legislation, Dubai is quickly becoming as the Middle East’s equivalent of Silicon Valley or even New York.

The United Arab Emirates is ranked 16th in the world by the Global Entrepreneurship Index 2021, with Dubai playing a major role in this rating. Several elements, such as financial backing from investors, government assistance, and an expanding number of bright and driven entrepreneurs, are what drive Dubai’s entrepreneurial scene. The city is a great area for entrepreneurs to start their enterprises since it provides a variety of encouragement and assistance programs for startups, such as loans, incubators, accelerators, and co-working spaces.

The friendly attitude of Dubai toward immigrants is one of the main factors contributing to its growth as a center of entrepreneurship. With visa laws that make it relatively simple for entrepreneurs and other innovators to obtain residency permit qualified workers to enter the city, Dubai has made it simple for skilled and talented persons to come there.

Due to this, Dubai has seen a sharp increase in immigration as a result of the bright people and businesspeople who are opting to settle there from all over the world.

The Dubai Chamber of Commerce and Industry reports that between 2014 and 2019, the number of startups in Dubai surged by over 120%, and there are currently over 30,000 of them in the city. Dubai attracted more than $3 billion in capital from local entrepreneurs in 2020, making it the second-best city in the world for startup funding. This is a reflection of the increasing interest from investors in Dubai’s startup scene and its future potential as an innovation hub.

Additionally, disruptive technologies like bitcoin, blockchain, and satellite technology are seeing Dubai emerge as a leader in these areas. The Dubai Blockchain Strategy and the Dubai Futures Accelerators program are two of the city’s latest efforts to encourage the adoption of these technologies. Due to these measures, Dubai has drawn some of the top tech businesses and entrepreneurs in the world, further solidifying its standing as a center for disruption and innovation.

Immigration statistics also confirms this trend, indicating that more innovators and entrepreneurs are relocating to Dubai. After Sydney and Melbourne, Dubai was the third most popular location in the globe in 2019 for billionaires to relocate, according to a research published by New globe Wealth. The study also showed that Dubai saw the greatest net inflow of millionaires in the Middle East in 2019—1,000 millionaires. The city’s growth and prosperity have been further propelled by the migration of wealthy individuals, which has led to a boom popular for high-end products and services and greater investment.

In summary, Dubai is quickly emerging as the center of entrepreneurship and creative thinking in the Middle East, attracting top talent and investment with its advantageous location, business-friendly atmosphere, and government assistance. The city has established itself as a global leader in these domains thanks to its dedication to cutting-edge technologies and disruptive industries like blockchain, satellite technology, and cryptocurrencies. As the city develops further, it presents never-before-seen chances for investors, inventors, and businesspeople to take use of the Middle East’s enormous potential. Dubai is positioned to emerge as the Silicon Valley of the Middle East, a thriving and dynamic center of invention and creativity because to its distinctive fusion of tradition and modernity.

Things Business Owners Should Think About Before Growing in Dubai

Venture capitalists from all around the world are drawn to Dubai, the United Arab Emirates’ booming city. Due to its advantageous location, business-friendly legislation, and business climate, Dubai may provide exceptional prospects for driven individuals seeking to grow their businesses.

I made the decision to move my venture capital organization from Canada to Dubai in 2019. The venture capital and private equity sectors, in my opinion, are far less competitive than those in North America, which implies that there are more options and equity flexibility when it comes to supporting entrepreneurs. I’ve learned from this experience that entrepreneurs considering relocating their company to Dubai should weigh the advantages and disadvantages of doing so.

Possible Benefits Of Conducting Business In Dubai
The possible tax advantages and company rules in Dubai are among the biggest draws for entrepreneurs looking to expand. Dubai has a tax climate that is favorable to businesses. The United Arab Emirates declared in 2022 that it would impose corporation taxes for the first time. “The the nation’s statutory tax rate will be 9% for taxable earnings beyond 375,000 UAE dirhams ($102,000), and zero for taxable income up to that amount,” according to CNBC, in an effort to encourage small firms. In my view, this can help business owners maximize their earnings and reinvest them to grow their operations more quickly. Furthermore, according to CNBC, there are no taxes on personal income, real estate, or equity investments, which might make Dubai a desirable location for business owners looking to optimize their gains in financials.

Additionally, the government has created free zones for foreign investors that provide specialized assistance and expedited processes. These free zones offer a number of benefits, such as the capacity to repatriate cash and profits, exemption from corporation and income taxes, import and export tax exemptions, and 100% foreign ownership. This simplicity of setup, in my experience, frees up entrepreneurs to concentrate on running their main businesses and making a name for themselves.

Dubai might also present beneficial networking chances. According to my observations, the city draws workers from a variety of backgrounds, which promotes a multicultural workplace culture that fosters creativity and teamwork. In order to expedite the growth of their business, entrepreneurs can leverage a vast network of like-minded individuals, potential clients, investors, and mentors.

In my opinion, Dubai offers a special benefit to business owners in the technology and e-commerce industries as well: the chance to enter comparatively unexplored and less competitive regions. Even while other big IT hubs may already be overcrowded, Dubai is still growing into a significant force in the e-commerce and technology industries. Entrepreneurs can establish themselves as leaders in their sector and gain market share by being innovators and providing creative solutions.

Businesses looking to grow in Dubai can take advantage of this ecosystem and its progressive programs that promote innovation and creativity.

Difficulties To Get Ready For
As alluring as this may sound, there are a few challenges that business owners in Dubai may encounter when they first set up shop. Understanding the regulatory and legal framework and overcoming cultural differences seem to be the two most frequent obstacles you may encounter.

It takes time and effort for entrepreneurs to get the gist of local business practices and culture before they can overcome cultural gaps. You can achieve this through networking with nearby business owners, going to cultural orientation seminars, and doing in-depth study. You can also close the divide among you and local practices by hiring personnel who is deeply culturally aware.

Organizing Yourself to Succeed
Take these things into account before opening a store in Dubai: Does the Dubai market have a need for your good or service? Can you operate within the legal and regulatory framework and adhere to its rules? Do you possess the tools and abilities needed to start and maintain a presence in Dubai?

If all the pieces fall into place and you’re prepared to relocate your company to Dubai, start by obtaining legal and financial counsel to decide on the best legal structure for your company and your visa, register the company, and establish your financial framework. The next stage would be to establish your business by choosing appropriate facilities or office premises to begin your new venture.

As a business owner who has experienced the relocation process to Dubai, I have put up a few pointers to make sure everything goes smoothly.

• Carry out in-depth industrial market research. Does it have a market? What kind of competition is it? Are there other business owners in your sector with whom you could collaborate and expand?

Speak with a financial specialist. Should you move to Dubai, would your savings exceed your expenses? Does moving your company abroad make sense financially?

• Establish internet networks. Make a virtual relationship with entrepreneurs you find on social media who currently reside in Dubai. If you have established mutual ties, networking with local entrepreneurs after your move will be considerably easier.

For business owners, expanding to Dubai may have many benefits, but there may be some difficulties along the road. It’s crucial for entrepreneurs who are thinking about starting a business in Dubai to conduct due diligence, get in touch with industry professionals, and expand their network in order to position themselves for success.

Russian money, exorbitant rents, and revived projects are all signs of the Dubai boom.

14 years after a recession almost brought Dubai to its knees, a fresh economic recovery in the city-state is now bringing new life to many large abandoned real estate projects.

War is a driving force in Dubai, as it has been in prior upswings. However, this time, rather than refugees fleeing Middle Eastern conflicts, it’s Russian businessmen who are running from Moscow’s assault on Ukraine.

Richard Waind, group managing director for Betterhomes, a real estate firm in the emirate, said: “There are lots of places in the world wherein there are real challenges and people looking for a safe haven.” “I believe that’s a safe haven for the capital as well as for their families,” the speaker said.

Although there are no indications that the market may be in crisis akin to 2009, some worries have begun to arise. The foreign workers that supports the emirate is experiencing a pinch on their standard of life due to skyrocketing rental prices.

The U.S. Treasury is concerned regarding the amount of Russian capital entering the United Arab Emirates’ most populated city’s real estate market.

The UAE appears to be functioning as a willing bridge, allowing Russian billionaires to utilize the Emirates as a waystation to connect the Russian financial system and that of the West, which, in principle, should pose a substantial reputational risk.

“However, the evidence suggests otherwise.

The Associated Press sent detailed inquiries, but neither the administration of Dubai nor the foreign ministry of the UAE responded.

It is difficult to emphasize how drastically the Emirates have evolved in the last fifty years. The group of seven sheikdoms which make up the UAE have expanded since 1968, when they were a federation with less than 180,000 residents under British rule. According to government statistics, there are 3.5 million residents in Dubai alone, with an extra 1.1 million making daily commutes or short-term stays in the city.

The UAE’s first modernization was driven by oil, a large portion of it coming from Abu Dhabi’s enormous reserves. What were formerly uninterrupted lengths of wind-blown sand dunes were transformed into the world’s tallest structure, massive malls, and extensive subdivisions once Dubai started allowing international ownership of “freehold” properties in 2002.

Approximately 10% of Dubai’s total gross domestic product is currently made up of real estate. Dubai witnessed 86,849 home sales in 2022, breaking the previous record of 80,831 set in 2009, following a decline brought on by COVID-19 regulations.

Exclusive districts like the Palm Jumeirah, a created by humans atoll shaped like a palm tree that extends into the Persian Gulf, have been crowded with buyers and renters.

According to real estate company CBRE, the average yearly requested rent for a rental property there is over $67,600, and the rent for a villa is $276,000.Analysts believe that the rich escaping epidemic restrictions abroad is what is driving expansion in the luxury sector.

Even outside of the ultra-wealthy community, this pressure has increased. Even with anti-price gouging provisions, the average rent in Dubai has increased by 26.9% since last year. Families renting villas should anticipate paying an annual median rent of $76,000.

Gavin Hill, a 34-year-old car salesperson from Essex, England, and his partner left their house in the Dubai Hills district close to the city center for a smaller flat some twenty kilometers (12 miles) south due to the abrupt increase in rent.

The concrete shell of the Dubai Pearl is already being torn down, but the future of the site is still unknown.

Plans for the Palm Jebel Ali, the Palm Jumeirah’s forgotten twin, are also being revived.

One behavior that contributed to Dubai’s crisis in 2009 was the purchase of unfinished properties by speculators. As initial purchasers “are profiting on the recent market boom and cash out with a premium in hand,” local firm Property Monitor stated, “off-plan” flipping is expanding once more.

Those businesses and others worry that speculative buying may result in the emergence of new bubbles.

“This suggests a rise in speculation, which is a characteristic of any market that is seeing price rises,” said Scott Livermore, the head economist at Oxford Economics Middle East.

Dubai “can suck people out and spat them out quite quickly,” according to Hill. “I’ve seen way too many folks lose their minds before very quickly going bankrupt.

 

A rent rise of 50%? For some people, Dubai’s record-high real estate demand is a nightmare.

  • For the initial two months of 2023, demand for real estate in Dubai, the opulent commercial metropolis of the United Arab Emirates, reached a record high, according to real estate services company CBRE.
  • Some residents of Dubai have experienced rent increases of more than 50%.
  • “Trust me, there are those who are prepared to pay the price,”According to a survey released on Thursday by the real estate services company CBRE, demand for real estate in Dubai, the opulent commercial metropolis of the United Arab Emirates, reached an all-time high for the first two months of the year of 2023.8,515 deals were completed in February alone in Dubai’s residential market, a staggering 43.9% increase from the prior year. 17,741 home transactions were recorded in total in January and February combined.

    While some Dubai residents, who make up about 90% of the expat population, find it difficult to reserve a taxi or a table at a restaurant, many of them are being impacted the hardest by the fast and frequently dramatic increase in rent.

    When asked what percentage of their rent had grown year over year, a consultant based in Dubai said to CNBC, “A 60% increase.” The expert chose to move rather than pay the increased rent while residing in Dubai’s upscale financial area, the DIFC. Other DIFC residents have complained that their landlords have requested rent increases of 50% or more, and as a result, many of them have downsized or relocated to less expensive neighborhoods.

    According to RERA, the Real Estate Regulatory Agency, a division of Dubai’s Land Department, tenants are not permitted to request rent increases that exceed a predetermined percentage based on the property’s current market worth. But the DIFC functions independently of RERA regulations as a separate legal body.
    And landlords are discovering ways to get around RERA regulations by evicting tenants under the pretense that they are buying the property or selling it, then leasing it to a new renter for a rent that exceeds RERA guidelines. Brokers claim that although this technique is prohibited, it still occurs regularly since many renters are unaware of their rights.

    According to a car, between 2021 and the present, rentals in several Dubai areas have doubled. As stated by CBRE, selling prices have increased by an average of 11.5% in the year leading up to February 2023.

    However, many sellers reported significantly higher returns. An expat from Dubai who asked to remain anonymous for professional reasons purchased a residential property in early 2021 for around 4 million UAE dirhams ($1.09 million), renovated and redecorated it, and then sold it within the year for twice as much.

    Compared to early 2020, the environment is as different as night and day.

    Prior to the coronavirus epidemic, the oversupply of the market had caused a 25% decline in Dubai’s real estate market during the previous five years.

    Bonkers’ rental market

    Landlords are aware that as more and more people move to Dubai, there will always be individuals prepared to pay their inflated rental rates, just as a lot of landlords are doing today to profit from lucrative sales.

    “Let me begin by using the word nuts. According to Ricardo Scala, founder of Ricardo Scala Estates and a luxury property broker located in Dubai, the rental market right now is simply insane. “Prices have increased by twofold and tripled in the last year and a half.”

    The average rent in Dubai grew by 27.7% from February 2022 to February 2023, according to CBRE’s data.

    Russian buyers

    By this point, it is common knowledge that a sizable share of last year’s real estate transactions were completed by Russians. It’s nearly impossible to go around the well-known Dubai Marina or Jumeirah Beach Road neighborhood without hearing Russian being spoken.

    We have seen a significant increase in Russian customers as a result of the conflict between Russia and Ukraine, Acar claimed. They were the nation with the biggest volume of transactions at the end of Q3 in 2022. Owners are taking advantage of that statistic since they are aware of it once more.

    German, Swiss, Italian, and British consumers have all increased significantly, according to Scala.

    Dubai’s openness and apparent normalcy for the majority of the Covid-19 pandemic, as well as the UAE’s stance of being open for business to all nationalities—including those from Israel, who cannot visit numerous Muslim nations, and from Russia, which is highly sanctioned by the West—have paid off.

    New citizens and businesses have also been drawn to the nation as a result of various facilitating economic and social changes that have been implemented over the past few years, such as the remote worker visa and the legalization of 100% foreign ownership of some businesses.

    Dubai ‘knows exactly what it’s doing,’

    Scala stated, “I believe Dubai’s government is fully aware of its actions. They have a very, very clever game plan, in my opinion. If you look about it at a very basic level, I can almost promise that everytime a dispute or issue arises somewhere in the globe, Dubai will release some sort of offer that encourages more people to visit Dubai within 14 days.

    Nobody anticipates a sudden decrease in real estate values in the interim.

    According to Scala, prices will temporarily stabilize and continue to rise at the same rates. “My industry colleagues and I are having a difficult time understanding how costs will decrease that much at this time, when there are only consumers paying the prices. Then he continued, “What we don’t want to happen is for them to keep rising up more and more and more.

    “Dubai is becoming more costly and it will be higher in price; it’s a fact of life,” Sajwani said to CNBC in January. The demand increases and people are able to pay higher costs because there are many wealthy individuals working for huge firms, he claimed.

     

Desserts You Must Try in Dubai

Albicocca e Pane at Al Mahara, Burj Al Arab, and L’Olivo

The unassuming Albicocca e Pane (apricot bread) of L’Olivo is given a Michelin star makeover. This exquisite delicacy, which is a picture of pale amber and cream, is filled with a variety of summery flavors and contrasting textures, including a bit chewy, billowing meringue, With crispy bread crumbs, the almonds, and an aromatic apricot sorbet, a satiny-smooth Chantilly cream is served.

At Butcha Turkish Steakhouse and Grill, City Walk, there is Baklava.

Is there any better way to end a meal than with some of the world-famous baklava from the renowned Turkish restaurant and butcher shop Butcha? No, we believe. Paper-thin pastry made from filo is covered with ground pistachios in this recipe, which is then cooked till crunchy, golden, and flaky after being dipped in a floral syrup. Turkish ice cream, which is evidently created using traditional methods, is added to the meal, making it even more delectable.

Glace Au Yaourt Grec in Jumeirah Al Qasr, French Riviera

There aren’t many desserts that are as exquisitely presented and delectably delicious as the Glace Au Yaourt Grec at French Riviera. They are simple yet sophisticated, and decadent yet refined. Greek yogurt’s tanginess is pleasant and thick and creamy. A liberal drizzle of honey deftly balances the ice cream, while red berries give color and jammy richness and a sprinkling of pecans adds textural crunch.

Murray’s by Dhow & Anchor’s Malai Kulfi at the Jumeirah Beach Hotel

The Malai Kulfi at Murray’s, the newest curry restaurant in town, is a must-order since it is the perfect remedy for a meal that is hot and spicy. The aromatic, firm-textured ice cream has a delicately nuanced, nutty caramel flavor that will not only please palates but also chill them. The quintessential Indian summertime beverage, falooda, pistachios, and basil seeds are also included in the serving. I’ll stop here.

The Hide, Bailey’s Crème Brûlée, and Jumeirah Al Qasr

When you return to The Hide, save space for dessert and make the blatantly decadent Baileys crème brûlée your standard selection. This is the sort of grownup treat that tastes so good that it overshadows everything else. It has a glittering, caramelized sugar crust that demands to be cracked open and a delectable Baileys-infused custard base lying behind.

Five Reasons to Invest in Food & Beverage market in Dubai

In a globalized society , countless numbers of people go to other lands. People come in a variety of tastes and cultures. Dubai has a larger proportion of expatriates than residents due to the migration of people from other countries, including China, Russia, both American continents, and the rest of the world.

Why is the F&B market in Dubai the best?

Dubai had to have a variety of facilities, simple business formation procedures, a global market, hospitable locals, and much more.
In 2015, the UAE had one of the largest food and beverage markets in the world, valued at AED 2.4 billion, according to KPMG (that’s one of the Big Four accounting firms).
The second-largest and one of its most significant Emirate in the UAE is Dubai.

According to a KPMG survey conducted inside Dubai,

  • 67 percent of the city’s residents go out to supper on the weekends.
  • While 44% elects to offer a takeaway product.
  • One monthly brunch outing is reported by 66% of the population.

5 Reasons Why you should invest in Food and beverage Industry?

Tourist Attraction

Dubai is full with prospects for startups and established businesses, as well as a vibrant culture. Due to the abundance of SME’s in Dubai, both locals and tourists have more possibilities to explore this magnificent city. In 2018, around 15.93 million foreign overnight visitors came to Dubai; this number has since risen.

2.Strong Infrastructure

Leading industrialists and construction firms have established themselves in Dubai and are erecting cutting-edge structures. There are several reasons why you should invest in Dubai. By 2050, Dubai is expected to rank among the most cutting-edge cities, according to the UAE government.

3 Easy business setup inside the free-trade zone

Some of the authorized zones in Dubai and the UAE do not impose any kind of taxes on your company. There are advantages to setting up your firm in free economic zones.

4.Elite dining establishments and lodging

one of the best spots on earth to spend time. Dubai’s downtown is home to the seven-star Burj Al-Arab hotel. Each of these amazing locations offers a lifelong collection of unforgettable experiences. Dubai offers these expatriates in the area Zaroob, Tom and Serg, Bu Qtair, Din Tai Fung, Ravi restaurant, Calicut Paragon, and much more.

5 New developments in the Industry

Dubai is the birthplace of several recent laws and regulations. Global exhibitions like Gulf Food Manufacturing serve as a focal point for the food and beverage industry’s display of international goods, services, and innovations. Additionally, the event will serve as a forum for discussion on pressing issues such as rising food prices, sustainable development, maintaining inflation, food engineering, and many.

Check the appetite of the UAE market for the latest food and beverage trends.

The food and beverage industry in the UAE has been growing steadily for some time. Because to the consistent growth throughout the years, fresh and packaged food sales reached USD 13.5 billion in 2018. Since then, this increase has accelerated due to the government’s food policy, a wealthy and diversified people, and a demanding desire for novel foods.

Today, the UAE’s food business alone generates USD 37.9 billion in revenue. Elaborate tasting menus, sustainable produce, and free-from meals are becoming more popular as the UAE solidifies its position as a worldwide culinary hub.

There is a vast amount of potential opportunity for ambitious businesspeople. So, if you’re ready to dive in, stay reading to learn how to make the most of this enormous and expanding market.

A look at the food and beverage industry in the UAE

In recent years, the UAE has made significant progress toward economic diversification. Because of this, the food and beverage sector in the nation is one of its most rapidly expanding ones, and it currently ranks sixth in the MENA region in terms of overall consumer spending.

Due to increasing disposable incomes, an increase in tourists, and a growing, diversified population, the UAE market lead the way in the Middle East closer to home. The UAE food and beverage industry expects per capita spending to reach USD 3,900 by 2025. Several trends are fueling increased revenues in this huge and expanding business.

Top chefs from all over the world are flocking to the Emirates as a new culinary hub to create new restaurants and attract customers with innovative and eye-catching meals. Tourists are actively advertised these high-end fine dining experiences, and with the number of visitors to the UAE set to top 30 million annually for the foreseeable future, demand is never been stronger.

The non-alcoholic segment of the beverage market is also expanding significantly. Revenues are anticipated to reach USD 1.6 billion in 2023 and experience yearly increase of roughly 3% through 2027, mostly due to a switch from traditional sweetened beverages to healthier alternatives.

This is only one reason for the rising demand for products that are healthful, environmentally friendly, and free of artificial ingredients that to be major growth in coming years.

A significant market for international food imports, exports, and re-exports continues to be the UAE.

The commerce in food and beverages in the first three quarters of 2021 totaled more than USD 20 billion. Around USD 12.8 billion of this total was made up of imports, next to exports (USD 4.1 billion) and re-exports (USD 3.3 billion). As the UAE moves to diversify its import sources and boost its emphasis on locally grown goods as part of its National Food Strategy 2051, we can anticipate an increase in these statistics. By enhancing local output, expanding international relationships, and utilizing resilient agricultural methods, the program seeks to elevate the UAE to the top rank in the Global Food Security Index by 2051.

Opportunities in the food and beverage industry in the UAE

Anyone with the means to produce or put together food and beverages ready for sale has a great potential with a greater focus on local agriculture. This could entail starting from beginning in farming or manufacturing, packing products for local retail sales, selling at wholesale to restaurants, or getting food ready for export.

For individuals wishing to procure and re-export foodstuffs and drinks around the world, the National Food Strategy’s goal to diversify imports and establish new international trading connections is encouraging.

The market for upscale restaurants also has substantial development potential. With 12 restaurants with Michelin stars and 18 listed in the Top 50 restaurants in MENA, the fine dining sector in the UAE is thriving. Those who have access to them will have no trouble finding clients as the market for more upscale and exclusive foods and drinks expands along with it.

However, eco-friendly goods and procedures may currently present the highest market opportunity in the food and beverage sector in the UAE.

As part of their commitment to “sustainable food production via the use of modern technologies,” the UAE’s leaders have made large investments in this sector and will keep doing so.

This emphasis on innovation and environmental sustainability is probably going to open up more prospects for vertical and hydroponic farming, as well as for the growth of drought-, heat-, and salt-tolerant crops.

Growth in this industry will also be fueled by rising customer demand for environmentally friendly solutions. Revenues from greener options like organic produce reached USD 34 m in 2020, and by 2025, this industry is predicted to increase at a compound annual growth rate of 9%.

Beyond food and drink, the need for greater sustainability also includes how they are packaged and enjoyed. By 2024, the UAE intends to outlaw single-use plastic bags, and by 2026, plastic cups, plates, and silverware.

This action is a symptom of changing views toward waste and offers a substantial potential for companies that can find or produce environmentally friendly substitutes. The possibility includes environmentally appropriate storage and delivery containers made of wood, cardboard, or bamboo as well as sustainable food packaging.

Starting a food and beverage company in the UAE

The MENA region’s gastronomic and sustainability evolution is strongly centered in the UAE. Therefore, enterprises in this region are best positioned to anticipate market developments and take advantage of the numerous opportunities presented by the nation’s burgeoning food and beverage sector.

Our knowledgeable team at RAKEZ can assist you if you want to learn more about opening a F&B business in the UAE. From selecting and applying for your company’s license to receiving the permits and approvals necessary to trade, we’ll walk you through every step of the process. This includes knowing the advantages of investing in Ras Al Khaimah.

Reasons Tourists Are Attracting To This Middle Eastern Destination

One of the most famous tourist destinations in the Middle East, Dubai has recently experienced an explosion in popularity.

The city was ranked as the top travel destination in the globe, and visitor numbers have been rising rapidly. More than 4.67 million tourists visited Dubai between January and March of this year, according to the most recent tourism statistics provided by the government of Dubai. This puts Dubai on track to surpass its previous tourism record of 16.73 million tourists in 2019.

Even though tourists are pouring into Dubai, a majority of them are foreigners. Only 7% of Dubai’s visitors are from the Americas, with the remainder hailing from Europe and Asia.

1.Great Place to Stop Over

Dubai is a fantastic place to layover. As one of the main airport hubs in the Middle East, Dubai is a well-liked location for connecting flights.

Why not break up a lengthy travel to Asia or Oceania with a multi-day layover in Dubai? In just a couple of days, you may see and do a lot.

For passengers with layovers of 10 to 24 hours, airlines like Emirates even provide special packages that consist of a free hotel stay and airport transfer.

2. Cost-effective Luxury

Dubai is renowned for being an incredibly glamorous tourist destination, yet many people are unaware of how inexpensive it is compared to other places.

For instance, a five-star hotel in Dubai will frequently cost less than half as much as one in New York, London, Paris, or Tokyo. Although expenses like dining out and entertainment can add up quickly, a luxury vacation in Dubai is still surprisingly inexpensive.

3. Special Activities

The Palm Jumeirah island construction and Global Village, a type of theme park featuring 90 countries, are just two of the many unusual things you can do in Dubai.

Another of the best activities to do in Dubai is to visit the beach. The city is well-known for its beach clubs and activities on the Persian Gulf like kayaking, kitesurfing, and paddle boarding.

4. Look at the Desert

Visits to the desert are among the most well-liked pastimes in Dubai. A short distance from Dubai is the Arabian Desert. Watching the city disappear as you are sucked into the huge, barren desert is breathtaking.

One of the best things to do in Dubai is to go on a desert safari. These day trips frequently include pursuits like camel riding and sandboarding.

5. Stunning Architecture

Dubai is renowned for its sleek, contemporary architecture. The Burj Khalifa, the highest structure in the world, is located in this city. Without stopping by one of its observation decks, a journey to Dubai is not complete.

Visit the Aura Skypool, the tallest infinity pool in the world, which is perched atop The Palm Tower. The well-known Dubai Fountain, which performs a nightly performance, is another must-see.

6. Entertainment and Nightlife

And lastly, Dubai is renowned for having a fantastic nightlife and entertainment scene. Even though Dubai is a Muslim nation, visitors are permitted to consume alcohol there in authorized hotels, pubs, and eateries.

Additionally, Dubai recently eliminated its 30% municipality tax on the sale of alcohol, making it significantly less expensive to go out now.

Dubai provides a ton of exciting nightlife alternatives, including top-notch restaurants, performances, and sights, even if you don’t want to drink.