The total number of visitors to Dubai in the first nine months of 2013 was 7.9m, and the emirate has set itself a target of reaching 20m visitors per year by 2020. The emirate received a major boost towards achieving this goal when its bid to host World Expo 2020 was accepted in November 2013. Of the anticipated 25m World Expo visitors between October 2020 and April 2021, it is forecast that...
With the population forecast to grow to 3m by 2020 and 25m attendees expected for World Expo 2020, the emirate is focusing on boosting transport options. Aviation and public transit are due for major expansion: the metro is set to increase to more than 422 km by 2030, a tramline is due to begin initial operations in late 2014, and airlines are also dominating the sector as Dubai’s ideal...
The Islamic financial services (IFS) industry has grown increasingly popular in recent years, with worldwide assets totalling $1.8trn in 2012 and forecast to top $2trn by the end of 2014. Having already established a reputation as a leading regional financial centre with abundant liquidity, Dubai has emerged as a major beneficiary of the IFS growth story. Sharia-compliant project financing,...
Driven by enhanced liquidity in the banking sector, rising property prices and an overall improvement in the domestic economy, Dubai’s capital markets began 2013 in full recovery mode. The Dubai Financial Market is a largely retail market at present, but it is preparing for a surge in institutional trading activity and an influx of foreign investment as a result of the MSCI index upgrade to “...
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