Dubai Economy Infographic 2016: Taking the next Steps
17 Oct 2016
While in 2016 the world’s fastest-growing economies suffered due to low commodity prices and currency depreciations, Dubai still enjoyed steady GDP growth at around 4% and an increased drive towards consolidating its position as a knowledge-based economy.
- Retail: More Is Better - Dubai has ambitious plans to expand its retail footprint, and businesses are exploring underdeveloped segments such as e-commerce, as competition for space heats up market.
- Tourism: Opening Doors - In the lead-up to Dubai Expo 2020, a number of key developments are designed to attract and cater to increasing numbers of tourists, including new hotels tailored to each visitor segment.
- Transport: Linked & Connected - Dubai’s transport sector has shown strong growth in recent years, a fact borne out in the numbers of arrivals and departures at the emirate’s airports. Population growth, combined with economic expansion, is driving the increase.
- Real Estate: Maturing Market - Real estate supply has seen a steady increase of late: total supply delivery for 2015 was around 12,000 apartment units and 2000 villas. A host of mixed-use projects are currently under way, many of which will continue to add supply in the years ahead.