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 Gulf countries look to rebound from the disruption of 2020, higher education institutions are playing a key role in meeting the needs of the region’s post-coronavirus economy.

Prior to the outbreak of coronavirus, medical tourism was a significant growth industry in many emerging economies. While the pandemic represented a major setback for the segment, there are signs that it may be recovering in several markets.

With Covid-19 facilitating the widespread adoption of remote working practices, some emerging markets are seeking to attract digital nomads through a series of incentives and special visas.

– Economies in the region were hit by reduced trade volumes and lower oil prices

– Governments launched extensive stimulus packages to stabilise their economies

– Short-term recovery will be tied to oil prices and the resumption of travel

– The pandemic looks set to accelerate economic diversification efforts

In what ways will the trend of remote work impact the residential property market?

While many Gulf nations were already working to diversify their economies prior to the coronavirus pandemic, the subsequent economic downturn and collapse in oil prices has meant that governments in the region have had to reassess and – in some cases – accelerate their strategic plans.

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