Economy

As the emirate celebrates its victory in the bid to host World Expo 2020, infrastructure and transport development is expected to attract significant investment over the next few years. GDP growth reached 4.9% in the first half of 2013, the strongest result for the January-June period since 2008. Trade, the strongest of the emirate’s economic foundations, continues to grow, with non-oil foreign trade increasing by almost 10% over the first three quarters of 2013, totalling some $275bn. There are concerns that the circumstances that led up to the post-2008 boom-bust cycle are reappearing, however, measures have already been taken to prevent or at least dampen the kind of speculative fever that laid the emirate low four years ago.

This chapter contains interviews with: Hamad Buamim, President and CEO, Dubai Chamber of Commerce and Industry; and Sami Al Qamzi, Director-General, Department of Economic Development.