Strategic opportunities
The United Arab Emirates (UAE) boasts one of the most diversified economies in the Middle East, characterized by its strategic location, robust infrastructure, and favorable business environment. With annual GDP exceeding $500 billion, the UAE ranks among the world’s top 30 countries according to GDP, despite ranking 91st in terms of population (with 10.3 million people). Its GDP growth was 3.6% in 2023 and the International Monetary Fund is projecting 4% growth for 2024. In 2023, the U.S. exported $24.8 billion in goods and services to the UAE—$162 million of it from Wisconsin. The UAE ranks 28th among Wisconsin export destinations, leaving ample room for growth.
Exclusive access
In early 2025, WEDC will lead a global trade mission to the UAE to help Wisconsin companies grow their exports in the market or enter it for the first time. This trip is intentionally scheduled to take place during Arab Health, a biohealth industry trade show that brings together nearly 4,000 companies from more than 180 countries. This feature makes WEDC’s trade mission a prime opportunity to connect with not only companies based in Dubai and the Middle East, but companies from around the world.
While the trade mission will offer special opportunities for biohealth companies, Wisconsin companies from any industry are encouraged to attend if they have strategic interests in this market. For each participating company, WEDC’s in-market trade representatives will screen for the best partners—which could include distributors, agents, and potential customers—in Dubai, a population center exceeding 3 million.
WEDC will handle all arrangements to get Wisconsin participants to business meetings; with all your appointments arranged for you, you can focus on business rather than logistics and scheduling. A briefing in advance of the main program will equip participants to understand the economic climate, culture and business environment, expectations, and strategies for success. In addition, each participant will receive a UAE market assessment specific to their company, detailing considerations to keep in mind when introducing their product or service into these markets.
United Arab Emirates outlook
The UAE’s openness to international business and its strategic location as a gateway to the region create business opportunities and make the market an attractive one for Wisconsin exporters. This program is open to experienced exporters as well as new-to-export companies that are open to learning how to adapt their products or services for this market. Companies in the following sectors are especially encouraged to attend:
- Health care and life sciences: The UAE has a rapidly growing health care sector driven by increasing demand for quality health care services, an aging population, and government investments in health care infrastructure. Wisconsin companies specializing in medical equipment, pharmaceuticals, telemedicine, and health technology solutions can tap into this market. Arab Health’s reputation as the best health care trade show is a result of its comprehensive approach, global reach, focus on innovation, and the valuable opportunities it offers for learning, networking, and collaboration within the health care sector.
- Oil and gas: Historically, oil and gas have been the cornerstone of the UAE economy, with the country possessing significant reserves of both. The capital, Abu Dhabi, holds most of the nation’s oil reserves, while Dubai has diversified its economy away from oil dependency. The government has been actively working toward diversification to reduce reliance on oil revenues.
- Infrastructure development: The UAE is known for its ambitious infrastructure projects, including transportation (airports, seaports, roads, and railways), utilities (water and electricity), and urban development. Wisconsin firms specializing in construction, engineering, architecture, and project management can find opportunities in this sector.
- Renewable energy: With a focus on sustainability and reducing reliance on fossil fuels, the UAE has been investing heavily in renewable energy projects such as solar and wind power. Wisconsin companies involved in renewable energy technologies, equipment manufacturing, and consultancy services can find significant opportunities in this growing sector.
- Technology and innovation: The UAE government has been actively promoting innovation- and technology-driven initiatives, including smart cities, artificial intelligence, blockchain, and cybersecurity. Wisconsin tech companies can leverage their expertise in these areas to partner with UAE firms, government entities, and startups.
- Education and training: The UAE government places a strong emphasis on education and skill development to support its knowledge-based economy. Wisconsin companies offering educational technologies, vocational training programs, curriculum development services, and higher education collaborations can find opportunities in this sector.
- Tourism and hospitality: The UAE is a major tourism hub, attracting millions of visitors each year to its iconic landmarks, luxury hotels, shopping malls, and entertainment destinations. Wisconsin companies in the hospitality, tourism management, theme park development, and cultural attractions sectors can benefit from the country’s thriving tourism industry.
- Financial services: As a regional financial center, the UAE offers opportunities for Wisconsin financial institutions, banks, insurance companies, asset managers, and financial technology startups to establish a presence and provide a wide range of financial products and services.
- Logistics and supply chain management: With its strategic location, the UAE serves as a key logistics and trading hub connecting markets across the globe. Wisconsin companies specializing in logistics, warehousing, freight forwarding, and supply chain management can capitalize on the country’s logistical advantages.
- Food and agriculture: Despite its desert environment, the UAE is investing in technologies and innovations to enhance food security and promote sustainable agriculture. Wisconsin companies involved in agricultural technology, food processing, agribusiness, and food distribution can explore opportunities in this sector.
- Sustainable and green initiatives: The UAE government has been prioritizing sustainability and environmental conservation, creating opportunities for Wisconsin companies offering solutions related to clean energy, waste management, water conservation, green building, and eco-friendly products and services.
