Market Research in Djibouti
Djibouti is one of Africa’s most strategic countries. This small country on the horn of Africa has the official name of the Republic of Djibouti. Djibouti is on the northeastern coast of Africa to the Red Sea. It is famous for its unique landscapes and diverse wildlife. The traditions and cultures of Djibouti are also full of diversity. Not only in language but in colors and superstitious beliefs.
This country is home to almost a million people based on recent figures. The capital is Djibouti City, and French and Arabic are the most common languages. There are two major tribes in Djibouti are the Somali and the Afar. Muslims make up 94 percent of the population, and Islam is the leading religion.
Djibouti occupies an area of a little over fourteen thousand square miles. It is a bit larger than Slovenia yet a tad smaller than New Jersey in the United States. Djibouti has one of the saltiest oceans in the world.
Djibouti’s neighboring countries include Somalia, Ethiopia, Eritrea, and Yemen. These countries are all bordered by Djibouti.
The country is of geographical interest because it controls significant waterways such as the Red Sea and the Suez Canal. These waters are two of the biggest shipping routes.
Djibouti International Free Trade Zone
DIFTZ (Djibouti international Free Trade Zone) is a model of China Africa cooperation. With the support of the Djibouti government, China and the port group have joined forces and are collaborating to build this fantastic African project. They are transforming the Avenue General Gallieni, the location of the main port. It is already one of the most attractive areas for businesses. It can attract lots of international trade.
Benefits and Strengths in the Djibouti Market: Why Grow Your Business There?
As we’ve seen earlier, Djibouti is in a pretty strategic position. This location in itself is the county’s strength. This location is at The Bab-el-Mandeb Strait, where the Indian Ocean ends and the Red Sea begins. The two bodies of water are about 15 miles away from each other. This location makes Djibouti a fortunate country.
The benefit of the country’s position is that it is a ground for regional trade. This trade encourages foreign exchange and boosts the country’s export rate.
The position is essential when deciding what country you would like your business to grow in. Ships from China, India, or anywhere in Asia to Europe or vice versa usually cross the strait.
The region is one of the biggest in petrol production. When cargo and ships pass through, the demand for resources is high, so they stop in Djibouti. This connection means that trade and tourism opportunities are plentiful.
Ethiopia is landlocked, but it has one of the largest populations in Africa. Djibouti has been the port for Ethiopia since 1999. Thus, the Djibouti port is crucial and always active. The port is one of the main advantages of Djibouti.
Doing business in Djibouti is a beautiful investment step. Although the tax rate is 10 percent, profits can more than double that. Being in the perfect location, all you need is to keep up with the people’s demands. It’s easy for a business to take off, although there isn’t a guarantee as with everything comes the possibility of risk. It is an excellent choice of country for investment.
About Market Research In Djibouti
Are you interested in owning a business in Djibouti? This article has all there is to know about this unique country. SIS International Research organizes Focus Groups in the markets of Africa. We also do Qualitative, Quantitative, and Strategy Research. This research will aid in your business inquiries and help you decide your next move. We hope that you will consider doing business and investing in Djibouti. You will not regret it!