UAE: Dubai Articles & Analysis

Dubai saw steady GDP growth of 2.8% in 2017 and this is expected to reach 3.2% in 2018, with an increased drive towards consolidating its position as a knowledge-based economy. The emirate is among the most diversified in the region, thanks to factors such as a highly attractive business environment that has brought in large amounts of foreign investment.

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Increased state spending on infrastructure and construction projects supported solid growth in Dubai’s economy in 2018, despite muted performances from some key sectors.

Dubai’s diverse theme park offering is paying dividends, with rising footfall in the segment supporting increased tourism revenue, thereby offsetting slower growth in other areas of the sector.

Dubai has improved its standing as one of the world’s top financial hubs and reinforced its position as a key regional centre for banking services, according to a recent survey on the global finance industry.

Dubai is stepping up efforts to promote the development of its small and medium-sized enterprise (SME) community, creating a new incubator to further strengthen the sector.

Construction demand in Dubai continues to be strong in the run-up to Expo 2020, supported by new tourism and hospitality projects, and public spending on infrastructure, although rising materials costs and funding constraints are exerting pressure on profit margins.

The private education sector in Dubai showed continued signs of growth in the recent academic year, although an expanding population and rising competition and prices could influence market dynamics in the short to medium term.