Little did the world imagine a crisis that will leave a huge impact in the future. With the pandemic on the run and the economy going down, the world is forced into a new normal. With rising international partnerships, UAE can hope for brighter future options.
“Dubai will never settle for anything less than first place” – Mohammed Bin Rashid Al-Malik
Dubai has made its first step by opening registration for The Fall 2020 Program. The program is an opportunity for startups and techies from across the world conducted by Dubai Future Accelerators (DFA). DFA is an initiative by the Government of Dubai and Dubai Future Foundation. The program will be a combination of physical and virtual participation. The program calls for innovative solutions to future challenges in the sectors of health, transport, energy, and digital technology.
Future business in the new normal post-COVID-19 world posts a variety of challenges. The most affected sectors during the pandemic are oil, travel, tourism, and real estate. However, the Dubai Chamber of Commerce and Industry is positive about future growth in the key areas of tourism, construction, and real estate. The advent of technology and long term perspectives are keys to business in the coming era.
Another major factor the Gulf countries are looking forward to is the area of sustainability or energy. The non-renewable energy sources pose major challenges to the future. Recycling has huge scope in the future which will help in not just development in the new normal but an opportunity for conservation of resources, reversing climate change, job creations, and economic growth.
There is a creation of high competitiveness and a requirement for new business strategies. Globalization has called for a new business environment and new business strategies. Megaprojects supported by the Dubai government have been effective in the past and so will help in redevelopment in the future.
