Why Dubai Is the Go-To Destination for FX Firms and Job Seekers Post-COVID

Why Dubai Is the Go-To Destination for FX Firms and Job Seekers Post-COVID

houseDavid Kennedy May 8, 2025

In the wake of the COVID-19 pandemic, the world witnessed seismic shifts in business operations, workforce preferences, and global mobility. One city that has emerged not just unscathed but increasingly influential in the global business scene is Dubai. Particularly in the foreign exchange (FX) sector, Dubai has become a magnet for companies and professionals alike.

But what is really driving this surge—and what does it mean for those considering a career move to the UAE?

A Business Boom in the Desert

Since the easing of COVID-19 restrictions, Dubai has seen a sharp increase in the number of FX and fintech businesses setting up operations. From boutique brokers to global trading platforms, companies are choosing Dubai for several strategic reasons:

  • Zero Income Tax: Individuals working in Dubai benefit from no personal income tax, which makes it highly attractive for skilled workers.
  • Pro-Business Environment: The UAE offers various free zones tailored for financial services, including the Dubai International Financial Centre (DIFC), providing regulatory clarity and incentives for startups and multinational firms.
  • Geostrategic Location: Sitting at the crossroads of Europe, Asia, and Africa, Dubai serves as a perfect regional hub for global operations.
  • Regulatory Evolution: Dubai’s regulators have actively modernised financial frameworks post-pandemic, giving fintech and FX firms the confidence to expand.

As of 2024, dozens of new FX companies have launched or moved their headquarters to Dubai, significantly increasing the talent demand in the financial and tech sectors.

The Job Market: Opportunities on the Rise

For job seekers, particularly in finance, tech, compliance, marketing, and sales, Dubai offers a dynamic landscape.

  • Demand for Multilingual Talent: FX businesses cater to global clients, making multilingual professionals in high demand.
  • Hybrid Skills Needed: Roles that blend finance with technology—such as algorithmic trading specialists, blockchain analysts, and risk professionals—are seeing the fastest growth.
  • Recruitment on the Rise: At David Kennedy Recruitment, we've seen a steady uptick in international placements for Dubai-based roles, especially from Europe and South Africa.

With large-scale events like the Dubai Fintech Summit and support from government initiatives, Dubai continues to attract top-tier professionals and startups alike.

Living Costs: Is the Glitz Worth It?

While Dubai offers an exceptional lifestyle, it’s essential to balance the high-end perks with the practicalities of daily expenses.

  • Housing: Rent varies widely depending on the area. In popular expat districts like Dubai Marina or Downtown, a one-bedroom apartment can range from AED 6,000 to AED 10,000/month (~€1,500 to €2,500). Suburban areas offer more affordable options.
  • Transportation: With an expanding metro network and plentiful taxis, getting around is relatively affordable—especially compared to cities like London or New York.
  • Lifestyle & Utilities: Eating out, shopping, and entertainment are available at all price points. However, imported goods and international school fees (for families) can add up quickly.

Overall, salaries in Dubai are usually adjusted to reflect the cost of living, and the absence of income tax often results in a higher net income than many Western cities.

Why Dubai—And Why Now?

The pandemic shifted how companies think about location, regulation, and scalability. Dubai seized that opportunity with agility, making it a new global HQ for FX firms and a hotbed for international talent.

Whether you’re an ambitious professional looking to fast-track your career or a company eyeing global expansion, Dubai has proven it’s not just a trend—it’s a long-term move.

At David Kennedy Recruitment, we’re helping job seekers and businesses make that transition smoothly, tapping into this dynamic market with insight, experience, and a global reach.

Looking to explore career opportunities in Dubai’s booming FX and fintech scene? Get in touch with us at David Kennedy Recruitment and let’s find your next big move.