Approaches to enter emerging markets: A UAE case study

摘要: UAE as a country brand ranks one for resorts & lodging. It is 31st among 134 countries in terms of national competitiveness according to the World Economic Forum. invested sovereign wealth funds IMF, fifth largest oil producing nation. During this time recession, it still expected have growth 2.7% Standard Chartered. This paper briefly highlights some important ways global corporation and international entrepreneurs succeed building new businesses within learning from past experiences. The methodology used primarily based on an extensive literature review interviews. Further triangulation was achieved looking at grey literatures (non-peer reviewed) web articles. exploratory nature. study presents conceptual model end that will provide guidelines entrants into market. 1.0: Understanding UAE: Some opportunities challenges high number lodging options; two being rising star brand; shopping destination; do business in; seven conferences; 10 fine dining; standard living, advanced technology Country Brand Index (2008). composed emirates has total population approximately 4.8 Million, which 80% are expatriates representing 185 countries. been political stable since its inception 1971. There three governments – federal government oversees strategy, administrative rules each emirate finally municipalities emirate. Till recently Dubai pioneering aggressive development (Balakrishnan, 2008). As strategy now replicated across different UAE, consolidation taking place through Abu Dhabi. According Forum Global Competitive 2008-09 report competitiveness. 5 nation, however dependency decreased less than 40% (UAE Interact, IMF (de Ramos, 2008; Its diversified strategies huge investments unique infrastructure projects made hub region not only trade logistics, but also tourism (Balakrishnan In spite world economy forcast grow by 2009 Chartered (Bundhun, 2009) though GDP 0.5% (2009). uses cases highlight these can help ventures UAE. articles (Dhaliwal Gray, 2.0: Opportunism Traditionally emerging markets were evaluated macroeconomic factors more like long-term market potential, cultural dimensions measure distance, competitive analysis industrial sector customer receptiveness included (Sakarya et al., 2007). One third accessible four hours flight (uaeinteract, 2008) with over 544 Million people having excess US$1000 ME subcontinent, Caspian Sea North Africa (Gulf News, presentation Director Marketing, Technology Media Free Zone (Hejmadi, 2004) you access 16Bn customers potential USD 1 trillion value. Jebel Ali free zone handles about 5% routed zones (Malhotra account non-oil (WTO, 2006). 2006 UAE’s (ratio imports plus exports GDP) 145% Figure 1ab gives breakdown exports. basically consumption led large percentage comes crude re-exports. Manufacturing focus area Market entry players present themselves various forms discussed below. Take 1a, 1b here. 1a: Components Source: Chamber Commerce Ministry Finance (Uppal, 1b: Exports (2008) 2.1: Capitalizing economic thrust areas Growth found areas. key small medium sized following sectors: trade, real estate construction, banking finance, hospitality, manufacturing development, medical, education retail Government Strategy, got lease life allowing foreign ownership March contributes 12% New come studying imports. net services importer Machinery, electrical equipment transportation vehicles accounted share imported goods. Another import great value food. around food items 2007 (RNCOS Report, talks Pakistan buy farms worth billion signed MoU Philippines ensure supplies (Roberts, Maceda, example plastic products met half demand released Emirates Industrial Bank 2003 (ameinfo.com 2003). By 2007, 3 investment expand capacity polyethylene polyolefin Borouge’s petrochemical facility Table depicts shows commitment success. These broken down Infrastructures, health education, wholesale manufacturing. 2 identifies industries investment. because they (1) indicate clusters (2) backing.