Near-term sentiment is on the rise among Dubai’s business leaders, with the IMF forecasting a healthy GDP growth rate of 4.2% in 2019 for the emirate. While not as exposed as some of its regional neighbours to the effects of fluctuating commodities prices in recent times, Dubai nevertheless stands to benefit from the knock-on effects of higher prices over the last year.
To what extent does the branding industry, particularly in tourism and retail, in Dubai mirror the ups and downs of the broader economy?
Increased state spending on infrastructure and construction projects supported solid growth in Dubai’s economy in 2018, despite muted performances from some key sectors.
Dubai is making moves to strengthen and diversify trade ties with Latin America, investing in infrastructure to facilitate investment in high-potential sectors.
Dubai saw steady GDP growth of 3.2% in 2017 and is expected to reach 3.5% in 2018, with an increased drive towards consolidating its position as a knowledge-based economy. The emirate is among the most diversified in the region, thanks to factors such as a highly attractive business environment that has brought in large amounts of foreign investment...
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