Media ININ Economy We Trust
22-04-2019 Media in\ Dubai
Dubai Economic Outlook predicted that the emirate’s real GDP growth in the short to medium term would reach 2.1%, 3.8% and 2.8% in 2019, 2020 and 2021 respectively.
The initiatives and investments led by the Government of Dubai and the growth prospects of the trading partners and the projects being prepared to host Expo 2020 Dubai are the cornerstone for increasing credit and investment in the private sector in the emirate.
The economic activity in the emirate witnessed a remarkable improvement at the beginning of this year, which was reflected in the increase in the number of new business licenses and the improvement of business performance. During the first three months of this year, 6,709 new trade licenses were issued in Dubai, Issued in the same period of 2018.
The business confidence index for the first quarter of 2019 rose by 10.2 points compared to the first quarter of 2018 and 7.7 points in the fourth quarter of 2018 compared to the same period in 2017, indicating a significant improvement in the growth prospects and optimism of the business community. The majority of companies have indicated their intention to make new purchase orders, which is expected to increase sales, volume, revenue and profit indicators.
The Dubai Business Confidence survey showed that 59 percent of companies are optimistic about growth in the first quarter of 2019, compared to 41 percent for the same period in 2018, 34 percent expect stability while corporate expectation is down from 8 percent to 7 percent.
In the first quarter of this year, the Dubai Financial Market Index rose by 4 per cent. The net foreign investments in the market during the first three months reached AED 680 million, representing 65 per cent of the total value of transactions on the Dubai Financial Market. Institutional investment was 492 million AED of first-quarter investments, underscoring Dubai’s growing confidence.
