Dubai Economy’s quarterly business survey reports that the Composite Business Confidence Index (BCI) amongst local businesses stood at 129.8 points in 3Q19, an increase of 14.9 points from the previous quarter.
With two months left in the year 2019, businesses are confident on ending the fiscal year with improved revenues and stronger economic results leading into 2020, in preparation and anticipation of Expo 2020.
Business conditions, market sentiment and market activity are expected to remain buoyant in the lead up to the October commencement of the World Expo. With less than a year to go to first World Expo located in the Middle East, Dubai, the hub of the region’s economy has seen various public initiatives spearheaded by the Dubai government to reduce the cost and increase the ease of doing business in Dubai, thereby contributing to the increasing optimistic outlook.
Projections of growth has seen consistent figures for increases across the board, with some industries, such as the service and manufacturing sector, expecting stronger numbers than others. It is against this backdrop of optimistic projections that Dubai-based businesses seek to maintain a solid foundation heading into 2020, and for the continued transformation of Dubai into a hub for future and potential investors.