TAG: UAE: Ajman
In the results of our most recent annual OBG Business Barometer: Gulf CEO Survey, 76% of CEOs identified regional political volatility as the biggest external risk (other than movements in commodity prices) facing the region in the short to medium term. Concerns notwithstanding, however, there is a definite sense that the challenging economic circumstances are being successfully managed. When asked what their expectations of the local business environment were for the coming 12 months, 72% of CEOs responded positive or very positive, slightly up from the 70.3% who responded likewise in 2018.
The Covid-19 pandemic that spread quickly around the world after emerging in the city of Wuhan in December 2019 has been hard for many and extremely tragic for some.
The UAE’s robust current account balance cushioned the economy against the twin global challenges of Covid-19 and the oil price drop in 2020. Lockdowns were implemented to protect public health, and Emiratis migrated online.