The emirate of Dubai, by virtue of being less generously endowed with hydrocarbons than its regional neighbours, has worked hard over the past several decades to develop a wider, more diversified economic bedrock to power growth. As a result the emirate has several sectors whose growth is not wholly contingent on hydrocarbons revenues, and which continue to prosper in the current environment.
JANNAH PLACE DUBAI MARINA Nasaq Street, Marina Promenade, Dubai Marina T: (04) 556 2500 F: (04) 436 2020 www.jannahplacedm.jannah.ae reservations.jpdm@jannah.ae Rooms: 105 Jannah deluxe suites (38 sq metres) with fully equipped kitchen, washing machine and floor-to-ceiling windows. 28 two-bedroom suites (100 sq metres) with fully equipped...
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COMMUNICATIONS: The country code for the UAE is +971, followed by Dubai’s dialling code 04. There are two local telecoms providers, du and Etisalat. Pay as-you-go SIM cards can be obtained at most shopping malls upon presentation of a passport.
John Brash: Diversification has been a deliberate policy of GCC governments for some time. The drop in hydrocarbon revenues actually shows this to have been apt and robust. So while the doom-and-gloomers would have us think the region was forced to diversify, it is actually the opposite: a case of foresight being proven. The result is that the GCC has, in the main, been able to ride out the fall in oil prices with typical panache.
The year was led by solid performance in established sectors of the economy, including financial services, transport, manufacturing and construction, which helped Dubai weather the knock-on effects of lower oil prices throughout 2015.
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