There was a time not long ago when a significant number of students living in Dubai would consider only a handful of universities within the emirate, while for the most part looking abroad for higher education. Now, however, Dubai is home to dozens of branch campuses of foreign universities and the emirate has quickly turned itself into an...
As it seeks to become a centre for medical tourism, Dubai is entering into a mature and competitive market, but also one with positive growth trends and increasing demand. According to consulting firm McKinsey & Co, medical tourism was estimated to be a $100bn global industry in 2012, and many countries throughout the world have registered...
After three years of low to modest growth, Dubai’s banking sector appears to have rebalanced itself following the 2009-11 economic crisis. Buoyed by rising asset quality throughout 2013, most of the eight national banks headquartered in Dubai have resolved legacy issues stemming from the collapse of the emirate’s property market, restructured...
While the volume of remittances worldwide fluctuated wildly during the recent financial crisis, Dubai has routinely bucked regional trends and benefitted from a stable flow of remittances over the past few years. According to the World Bank, worldwide remittances are estimated to have reached $406bn in 2012, up 6.5% over 2011, while the UAE saw...
Over the past decade, the Islamic financial services (IFS) industry has grown 50% faster than the conventional financial sector. Worldwide IFS assets totalled $1.8trn in 2012, according to Ernst & Young’s (EY) “World Islamic Banking Competitiveness Report 2012-13”. By the end of 2014, IFS assets are projected to top the $2trn mark, and...
The UAE boasts some of the highest internet, credit card and e-commerce penetration rates in the MENA region, making it ideal for online shopping. However, payment systems in the country are not yet at the same level of sophistication as more developed international retail markets. While credit transfers are increasingly used for salary and high...
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