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...
Compared with many of its peers in the GCC that remain largely dependent on hydrocarbon revenues, Bahrain has a relatively diversified economy. The country pioneered the development of new economic sectors that are now common throughout the Gulf. Bahrain was the first GCC state to begin oil exports in 1934 and later became the first in the...
Infrastructure work in the MENA region worth $87.6bn in 2013 – the largest regional total for project financing that year – means big business for reinsurance providers that can shoulder the risk for such financing needs. Following the example of island nations such as the Bahamas and Singapore, Bahrain has ambitions of becoming an important...
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