Pakistan emerges as key driver of Dubai Chamber’s growth

DUBAI: Pakistan has emerged as the second-largest contributor to the growth of Dubai Chamber of Commerce memberships in 2024, with an impressive 8,179 new Pakistani businesses joining the chamber, a report by the Dubai Chamber of Commerce recently mentioned.

India led the rankings with 16,623 new companies, while Egypt ranked third with 5,302 companies. Syria followed with 2,764 new members, and the United Kingdom ranked fifth with 2,588 new companies, marking a 14.2% increase compared to 2023.

The analysis highlighted significant growth rates for Iraq, Turkiye, and the UK among the top 10 nationalities of foreign companies joining the chamber. Iraqi companies saw a 37.8% increase, rising to 1,718 new companies in 2024 compared to 1,247 the previous year. Turkish companies recorded a 25.5% growth, with 1,314 new members, while the UK saw 2,588 new companies, reflecting a 14.2% rise from 2,267 in 2023.

The Dubai Chamber of Commerce also reported 1,474 new Jordanian companies and 1,473 Chinese companies registering in 2024. The trading and services sector dominated new company registrations, accounting for 41.1% of all memberships. Real estate, renting, and business services followed at 32.9%, while the construction sector contributed 10.5%. The transport, storage, and communication sectors accounted for 8.4% of the new companies.