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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More female employees are joining workplaces and boardrooms in the UAE and Saudi Arabia, with gender equality a key target of a regional drive to improve environmental, social and governance (ESG) standards.

Dubai’s diversified and digitalised economy was able to absorb the impact of the Covid-19 pandemic relatively well. The emirate enjoys some of the fastest internet speeds and most advanced broadband infrastructure in the world, which facilitated the rapid shift to online work, education and commerce.

With the current semester winding up, many higher education institutions in the Gulf are already planning an expanded offering of courses for the next academic year – with a focus on supporting the needs of the region’s post-pandemic economy.

More than a year after the initial onset of the coronavirus pandemic, the Gulf banking sector is seeing an increase in mergers and acquisitions (M&A), as lenders continue to deal with the economic fallout.

The UAE’s robust current account balance cushioned the economy against the twin global challenges of Covid-19 and the oil price drop in 2020. Lockdowns were implemented to protect public health, and Emiratis migrated online.

As industries around the world increasingly turn towards environmental, social and governance (ESG) strategies to support their recovery from the Covid-19 pandemic, focus is sharpening on sustainable construction in the Middle East.

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