More Good News For Dubai Economy
- Monday, 19 December 2011 11:07
With most of the world’s economies reeling from the worst economic situation in decades, Dubai’s economy remains resilient and is even expected to grow by 2.3 percent this year. The Emirate was previously enjoying an oil & real estate boom before experiencing the effects of the globalfinancial downturn. It seems that the city has weathered a major economic storm and is expected to recover due to its strong business fundamentals currently in place.
Numbers coming from the Dubai Statistics Office show Dubai’s population growing by 7 percent during the first nine months while unemployment remains at a low 0.8 percent. Businesses outside the Dubai free zones grew by 6 percent or around 147,000 in the first half andby 12 percent at the end of the year. The private business sector also posted a ten month high in activities during September.
“Observing the gradual growth of the economic index and the enticing investment environment in Dubai has sent a positivemessage to the international investors worldwide” said Mr. Osama Saeed Salman, Chairman, Alliance Business Centers – UAE
“We are now on the final touches of establishing the second business center in Dubai and plan for a third in Abu Dhabi tomeet the increasing demand of foreign investors and global multinational firms for such services,” added Mr. Salman.
This is a strong indication that businesses are again coming back toDubai and that the city will continue to take a lead role in the Kingdom’s push towards full recovery.