While low oil prices weighed heavily on many of Dubai’s trading partners and neighbours, the emirate delivered a strong economic performance in 2016, buoyed by growth in key non-hydrocarbons segments, which provided an important buffer against external challenges.
Sales of greener vehicles in Dubai look set to rise in the coming years as the government steps up its bid to reduce the emirate’s carbon footprint.
Despite the slow pace of economic recovery by many of its key partners, Dubai’s non-oil foreign trade has maintained solid momentum, with direct exports on the rise.
While the first half of 2016 saw property values fall in Dubai’s real estate sector, strong fundamentals and consistent demand from foreign buyers suggest they may flatten out in the second half before turning upwards in the lead-up to Expo 2020.
Increased investment – from sharia-compliant accommodation to consumer goods – is helping Dubai position itself as a key player in the rapidly expanding global halal travel industry.
A solid regulatory base, strong government support and rising demand from a young population are fuelling Dubai’s efforts to foster technology-driven entrepreneurship.
Stay updated on how some of the world’s most promising markets are being affected by the Covid-19 pandemic, and what actions governments and private businesses are taking to mitigate challenges and ensure their long-term growth story continues.
Register now and also receive a complimentary 2-month licence to the OBG Research Terminal.
Register Here×