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Expecting Dubai economic growth and facing the reality

PUBLICATIONS / Articles / 2019 / Expecting Dubai economic growth and facing the reality
Dubai has become a place expected to be always growing and developing. How does the city face the impacts of global economic volatility? The answer is simple: Dubai has a power to grip and neutralise its negative impacts. 

The world economy monitoring institutions provide different forecasts for Dubai’s economic development rates between 2019 and 2023. However, all experts agree that Dubai has a promising ability to overcome global economic volatility. The agreement and confidence come from the constant government’s investment and support on development. 

The International Monetary Fund (IMF) is positive about Dubai and the UAE economy due to constant spending on infrastructure and contraction mainly focused on preparation for the Expo 2020. Moreover, Dubai being pro-technology hugely spends on digitalization and technical development. In the latest report of IMF about its forecasts for 2019, it expects the average global growth rate at 3.6 per cent from 2019 to 2023, whereas it has projected Dubai's economic growth to reach 4 per cent including 3.3 per cent of the non-oil sector contribution. 
Dubai is expected to exponentially grow further with all lowering the costs of conducting the business. Now, it is indeed one of the top places for global investment. 
The development of Dubai is well executed and planned. This could one of the secrets of a growing city. Dubai is known everywhere and by everyone. It has increased the overseas promotions with 5 missions visiting 10 world cities in China, Japan, the South Korea, and the USA. The missions will explore investment opportunities and enhance trade and investment relations. 
In addition, the Bloomberg Economic News Agency has emphasized Dubai as leading the Middle East as a financial centre. 

The expectations of a growing Dubai are estimated as high.  When the previous expectations have proven to meet the reality and the world is expecting a new growth, there is a projection that Dubai has a further determined progress. Dubai is setting a new global path overcoming volatility and setting new growth standards. 

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