Dubai’s banking sector, which forms part of the wider UAE banking system, has continued to recover since the global financial crisis. Banking sector assets climbed 13.1% in 2013, from $487bn to $552.5bn, while deposits rose from $318bn to $348bn, a 9.5% advance, and capital adequacy ratios remained strong, at 18.3% overall. New regulations designed to protect financial institutions from...
UAE: Dubai
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With Dubai’s economy growing by 4.6% in 2013, and the emirate posting a GDP of $88.65bn, opportunities in various sectors, including Islamic finance and infrastructure and hospitality development, are drawing the attention of investors. The emirate is building up its reputation as an international centre for Islamic finance and under a new Islamic finance master plan it intends to focus on...
Chapter | Country Profile from The Report: Dubai 2015
Continued recovery from the effects of the 2008 global financial crisis has set Dubai on a robust growth path moving forward. Dubai’s population stood at 2.27m as of mid-2014, and as of the end of 2012, Emiratis made up around 11% of the population, while expatriates accounted for the remaining 89%. The emirate is pushing ahead with efforts to develop sharia-compliant industries in the region...
In many respects 2014 marked the transition from strong recovery to promising growth for Dubai. With many exciting projects in the pipeline, not least the hosting of Expo 2020, the emirate is continuing to build on its reputation as a dynamic and international centre for business.
Dubai’s famous mega-malls are doing brisk trade, with the companies behind the emirate’s two biggest shopping centres reporting double-digit revenue growth in 2014. Additionally, plans for further expansion are also in the works.
Looking to capitalise on its reputation for healthcare, Dubai has set its sights on expanding the medical tourism sector with a target of half a million health and wellness visitors by 2020, boosting the economy with a fourfold increase in revenues from this segment.