Strong fundamentals and a diversified economy are keeping concerns at bay in Dubai, despite a potential cooling of investor sentiment across the region and weakening global conditions. Dubai announced a balanced budget for 2015 at the start of January, as it plans to increase spending by 9% year-on-year, with spending and revenues both projected at Dh41bn ($11.2bn),...
Developing small and medium-sized enterprises (SMEs) is a priority for the Dubai government. As in many developing countries, these businesses account for the bulk of commercial establishments — about 95%, according to government figures. However, while they employ 42% of the workforce and account for 40% of the total value added in the economy, they are not seen as a...
Located at the mid-point between Europe and Asia, Dubai has built a diverse, competitive economy, well connected to the rest of the world by major transportation links. While the focus in recent years has been on Dubai’s recovery from the global financial crisis of the late 2000s, resumed growth has shifted the emphasis to a forward-facing outlook as Dubai seeks to...
With Dubai now putting the global financial crisis behind it, policymakers are seeking new opportunities to shape the emirate’s economic narrative in the years to come. The lead-up to Expo 2020, which will require major development efforts to accommodate an influx in tourists, will serve as a guideline for forecasting growth in highly correlated sectors such as...
Trade relations between the GCC and Asian economies have been growing steadily for some time now. Recent developments suggest, moreover, that they are set to expand further over the next decade. While there are some risks associated with Asian markets, the GCC as a bloc is deepening its commitment to the region. This is signalled by a number of...
In many respects, 2014 marked Dubai’s transition from strong recovery to promising growth, as the emirate entered a new development cycle fuelled by a booming real estate market and continually strong expansion within the tourism and retail sectors.
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