Economy

Dubai has traversed some challenging economic territory over recent years. Political tensions in the region, the 2007-08 global financial crisis and a prolonged decline in oil prices from late 2014 are together exerting downwards pressure on the emirate’s economic expansion. However, stable oil prices and the economic stimulus of Expo 2020 have eased this strain in 2019, and business sentiment has improved accordingly. With the long-anticipated Expo 2020 set to take place beginning on October 20 of that year, attention is already turning to the question of how the emirate will sustain its current economic momentum over the medium term. This chapter contains interviews with Hamad Buamim, President and CEO, Dubai Chamber of Commerce and Industry; and Sami Al Qamzi, Director-General, Department of Economic Development.