Monday, June 14, 2010

Dubai economic growth to rebound in 2010

Dubai's economic growth will rebound this year, with trade, transport, finance, manufacturing and government services will be the major contributors, while real estate, construction, domestic services and mining will remain in the negative territory.

Dr. Elsa Abdelgalil, the Senior Manager, Dubai Chamber Economic Research Department, when speaking during a seminar, said that utilities, social and personal service sectors are also likely to help growth, although to a lesser extend.

On the whole, the emirate will rebound this year. The real GDP in Dubai has been growing at 12.18percent on an average from 2001 to 2008. Only in the year 2009, had Dubai experienced a decline of 2.5percent. Therefore, the years 2010 and thereafter has to be positive, he said.

The post-economic crisis era is likely to bring about fundamental and structural changes, which would lead to creation of new business environment, said Hamad Buamim, Director-General, Dubai Chamber of Commerce.


dubai property said...

I am glad to know this and I hope to see a bright future for Dubai real estate business as experts are saying that situation would start getting better till the end of this year and you are very right in your forecast.

Lisa Ray said...

The Duabi Real Estate has already been showing some great signs for investors in every sector. 2014 would a rocking one in real estate.