Economy

Dubai’s economy is among the most diversified in the region, thanks to factors such as a highly attractive business environment that has brought in large amounts of foreign investment. Despite producing little oil, growth has been affected in recent years by the knock-on effects of the fall in international oil prices and a consequent slowdown in neighbouring hydrocarbons-dependent territories. However, this has benefitted other sectors, such as transport, tourism and other indirectly related activities. A moderate oil price recovery in 2016, plans to step up infrastructure investment ahead of Expo 2020 and further diversification of the economy by boosting manufacturing output mean the emir- ate has one of the most dynamic short- and medium-term growth prospects in the region.

This chapter contains interviews with Hamad Buamim, President and CEO, Dubai Chamber; Abdul Latif Al Zayani, Secretary-General, GCC; Liam Fox, UK Secretary of State for International Trade; and Raja Easa Al Gurg, President, Dubai Business Women Council, and Managing Director, Al Gurg Group.