Maritime endeavours are a key component of Dubai’s history. The city was originally established as a trad¬ing port and achieved its prosperity chiefly from pearl exports. The discovery of oil in the emirate in the 1960s not only created a new source of wealth, but also encouraged the nation to develop modern maritime infrastructure, as oil exports relied heavily on shipping. In recent years,...
The Middle East Transport
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Chapter | Transport & Logistics from The Report: Dubai 2019
As a well-established regional hub for transport and logistics, Dubai is the UAE’s primary transit point for passengers and the main gateway for its non-oil exports and imports. Counting one of the world’s busiest airports and the Middle East’s largest port among its facilities, the transport sector makes a significant contribution to Dubai’s economy as well as that of the wider UAE. In 2017...
Near-term sentiment is on the rise among Dubai’s business leaders, with the IMF forecasting a healthy GDP growth rate of 4.2% in 2019 for the emirate. While not as exposed as some of its regional neighbours to the effects of fluctuating commodities prices in recent times, Dubai nevertheless stands to benefit from the knock-on effects of higher prices over the last year.
Bahrain is home to a dynamic transport sector, including one of the Gulf’s oldest airlines and a causeway linking the kingdom to Saudi Arabia, the region’s largest economy. A second such link is in development, and soon the kingdom will also be connected by rail to the GCC train network. In addition, it will gain an expansive urban light rail system, a new airport and a revitalised national...
Despite its diversified economy, Bahrain has nonetheless faced pressures in recent years as a result of the 2014-15 drop in global oil prices. However, a multibillion-dollar aid package from other Gulf states and an accompanying fiscal adjustment plan, as well as growth following a partial oil price recovery and a major oil and gas discovery, offer hope for an economic turnaround in 2019.
Almost three years into its ninth five-year plan for 2016-20, Oman is beginning to reap the rewards of efforts to restructure and expand its transport and logistics sector. The Central Bank of Oman’s latest annual report notes that transport, storage and communications is one of the economy’s best performing categories, with the growth rate reaching 9.6% in 2017. The sector’s expansion is being...