UAE: Dubai Economy

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In a boost to its standing as a centre for advanced research and innovation, Dubai has been chosen to host an affiliate centre for the Fourth Industrial Revolution Network, an initiative of the World Economic Forum (WEF).

 

Two of the biggest trends in global insurance in recent years are premium growth in emerging markets and the rising importance of technology across the supply chain. The latter has come to be referred to as InsurTech, a potentially disruptive trend that heralds both threats to and opportunities for incumbents and newcomers alike. While...

 

Dubai has a growing and multi-tiered insurance sector, with options including a conventional market as well as an offshore segment that features specialists and reinsurers that cover the region. The sector is part of the larger UAE’s insurance industry, in which federal regulators and laws oversee providers that operate nationwide as well as...

 

While advanced economies generate the vast majority of insurance and reinsurance business, emerging markets are posting higher rates of growth. Complementing this underlying trend is a strong and expanding interest in catastrophic risk, which by nature tends to pertain to emerging markets. This is coming alongside fast-paced, sector-...

 

Decades of growth in trade and foreign investment have seen the economies of the world become more interconnected and interdependent than ever before. The production of goods and, increasingly, the provision of services has become fractured across borders as corporations create and integrate into regional and global value chains – a process...

 

One of the major economic changes in Dubai and the UAE in 2018 was the introduction of a 5% value-added tax (VAT). Dubai and other jurisdictions on the Arabian Peninsula have long been popular for their lack of personal and corporate income taxes, and while they remain low-tax jurisdictions overall, this new levy is expected to add...

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