UAE: Dubai

Although Dubai has traversed some challenging economic territory over recent years the economic stimulus of Expo 2020 preparation and more stable oil prices have eased this strain in 2019, and business sentiment has improved accordingly. With the long-anticipated expo event set to take place in 2020, attention has started to focus on the important question of sustaining the current economic momentum over the medium term.

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As countries within the Gulf begin a gradual easing of Covid-19-related movement restrictions, the revival of the region’s aviation sector has come into focus. Effective recovery strategies will rely on reassuring passengers that sufficient health and the safety measures are in place.

With Covid-19 restrictions leading to the closure of Dubai’s shopping malls, some major players in the emirate are turning towards online platforms to stimulate retail activity.

Internet service providers in Dubai have stepped up to meet the surge in demand created by large volumes of people working and studying from home due to coronavirus containment measures.

Subdued domestic and external demand combined with regional tensions created a challenging economic environment for Dubai in 2019.

A series of recent developments have underlined Dubai’s commitment to strengthening its position as a regional financial technology (fintech) leader.

 

For many residents, tourists and developers, retail remains a core part of Dubai’s identity. The sector contributes just over one-quarter of the emirate’s GDP and, thanks to a number of mixed-use retail projects in the pipeline, is set to continue expanding. Local iconic malls are constantly reinventing themselves, searching for new brands and...

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