UAE: Dubai

A determined optimism is pervading Dubai’s markets, with the emirate’s growth set to top many expectations this year. Few would suggest, however, that the emirate is immune from the looming debt crisis in Europe.

Looking to boost information and communications technology (ICT) usage across the board, but particularly in education, Dubai has committed to embracing ICT in all facets of the teaching and learning process.

Interest in Dubai’s bond market is undergoing a revival, with enthusiasm tracking the steady rebound of the emirate’s economy. There are still some lingering concerns, however, over whether all bonds can be repaid on time or if another round of rescheduling will be required.

As Dubai’s construction sector moves into recovery mode, many contractors operating in the emirate are keeping an eye on opportunities at home while stepping up efforts to fill gaps in their order books abroad.

Set to ride a rising wave of interest in its free trade zones, Dubai is cashing in on its long-term investments to further bolster its economy by attracting new clients looking for a stable and central base of operations. Dubai’s free zones are becoming increasingly important to its economy and represent a strengthening bond between the emirate and global trade.

Dubai’s economy is expected to post solid growth in 2012, with the emirate’s manufacturing industry tipped to be one of the key contributors. The rate of growth, however, will likely depend on how international markets withstand the fallout from the European debt crisis and other destabilising factors.