An economy to grow successfully requires several industries that strive for better GDP (Gross Domestic Product) every year. It is a balance of deficit and surplus. A shrink in one sector can be compensated with the prosperity in another. That is how the market forces work in an economy. The objective of the game is to let all the industries survive along with each other. The heavy rental truck companies in Dubai fall under the transportation sector and contribute majorly towards the economic growth rate of UAE. However, several social, ecological, and political factors determine the impact of the trucking industry in the Dubai economy. Some of the significant effects are discussed in the following points:
Origin of Small businesses
The trucking industry has assisted several small businesses in growing and flourishing in Dubai. It is difficult for many companies to prosper in the presence of other large scale companies, but it is not the same in the trucking industry.
The industry thrives itself on small truck rental companies that do not depend on massive investment by the investors. This helps in the reduction of liability and obligation on these companies, consequently adding to the income statement of the industry. Hence the small businesses in the trucking industry of UAE attract the incorporation of more such companies.
Growth of the truck industry
Whenever the companies within an industry grow horizontally and vertically, it accounts for the simultaneous growth of the industry as well. In Dubai, many small scale businesses are blossoming on an everyday basis. This calls for an increase in delivery and logistics as well.
The market forces of demand and supply play a significant role in the determination of the industry’s contribution to the economy. The growth of other sectors promotes the growth of truck rental companies as well by creating demand for trucks for the transportation of goods.
Attracts customers globally
UAE has a diverse population of people coming in search of employment and then settling there permanently. In the same way, the truck industry not only has a target customer base in Dubai but worldwide. People from different parts of the world have tried the truck rental services of companies in Dubai and have become loyal customers.
Since the quality of services that these companies offer are excellent, the customer base keeps expanding from one country to another through advertisement and word of mouth. This helps boost the economy as a consequence.
Creation of a competitive environment
It is necessary to have a competitive and dynamic environment for companies to evolve in any sector. When it comes to the trucking industry, well established and experienced companies create such an environment for new corporations that they feel free to operate their businesses. It also helps the other companies to provide good quality truck rental services to its customers continually. Hence the economy of Dubai gets affected positively.
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