The emirate posted robust economic expansion across all sectors in 2013, and its resilience in the years following the global economic downturn has helped to re-build confidence among the global business community. Dubai has set itself the target of reaching 20m visitors per year by 2020 and the emirate received a major boost to this end when it won the right to host World Expo 2020 in November 2013.
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...
The sultanate’s economy continues to enjoy the benefits of petroleum wealth, which has provided budget surpluses in most years and served as a backbone for growth. However, planning is well under way for an era in which oil will not be the main economic driver, with the twin goals of diversification and creating an increased number of private sector jobs at the top of the government’s current agenda.
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