UAE: Dubai

The combination of Dubai’s central location and advanced infrastructure have attracted trade operators from around the world, and the emirate continues its legacy as a shipping point between East and West. In 2011 transportation, along with logistics, tourism and trade, accounted for 60% of Dubai’s GDP, the result of a number of recent investments. Authorities have initiated a $523m plan to build...

The UAE is one of the largest insurance markets in the Gulf region, and Dubai takes an impressive share of the country’s total premiums. There is still plenty of room for growth in life and general, with the period ahead likely to see more of this potential realised. More specifically, Dubai is moving toward compulsory health insurance, and there are signs that the infrastructure and real estate...

With global Islamic financial assets worth some $1.2trn at the end of 2011 and growth of 150% over the previous five years, Dubai has long been eager to take a bigger share of this rapidly expanding market. Indeed, the emirate has long been home to some of the region’s stand-out Islamic banks and insurers, with its sukuk – Islamic bond – market also of highly prominent international standing....

Since the global crisis in 2008-09, when Dubai’s indexes plummeted and international interest waned, there has been much recovery, and certain sections – such as the commodities and precious metals segments – have boomed. The lessons learnt in this financial test have left the emirate’s exchanges and players stronger, with the fundamentals of this vibrant economy returning to bring on a second...

After facing some tough challenges in recent years, Dubai’s banking sector now shows signs of having turned the corner. Stronger regulation and more robust financials are providing a healthier environment for expansion, and significant progress has been made in tackling the legacy of the global financial crisis. In the year ahead banks are likely to remain conservative in their strategies,...

After weathering the effects of the global financial crisis, Dubai is swinging back toward a more guarded optimism as it regains its status among regional and international economies. In 2012 GDP was expected to reach $386bn, and the IMF estimates that GDP will continue growing, reaching $450bn in 2017. However, Dubai’s economy is currently operating at about 15% of capacity, implying that...