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Dubai’s eyes growth with large investments

Sheikh Ahmed bin Saeed Al Maktoum, Second Deputy Chairman of the Executive Council and the Chairman of Economic Development Committee has remarked that the growth of Dubai has reached astounding heights irrespective of the downward trends of 2016 and is all set to gallop past the global economic growth in the coming years.

In the annual report of Dubai Plan 2021, the focus is on the to the economic growth of the region and its diversification and sustainable policies leading to the new companies incorporation in Dubai have led to its economic growth. It is remarkable that the oil exports make up for the least 1 % of the total GDP.  A lot of untapped and potential opportunities have come up in the other sectors leading to all round development of the region.

In the area of tourism, there has been a rapid increase of 5% when compared to the year 2015. The increase in the accessibility and the infrastructure improvements in the tourism sector has made Dubai the favored destination. This action has led to unprecedented growth in the economy. There is a plan in place to attract 20 million customers by the end of the year 2020.

There has been a steady growth in all the sectors all around the country. Dubai has bagged the 26thplace among 190 economies and stood first in the Arab region. The economy of Dubai had an increase of 2.85% when compared to the global economic growth rate of 2.4 %. All said we could assume that Dubai will be playing a major role in the world economy and it is on its way to becoming a strong contender in the major sectors of commerce.

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