Posted on: 15th January 2019 in Dubai
Expats in Dubai will be relieved to hear that the UAE economy is predicted to grow at a healthy average rate of 3.8% over the next five years. That’s according to the Dubai Chamber of Commerce and Industry in January 2019. 2017 saw the UAE’s overall economy grow by only 0.8% after OPEC pressure on oil output and a slide in crude prices. But – thanks to a slew of government initiatives announced in April – the immediate future is expected to be brighter for both halves of the economy: oil, and non-oil. The National summarises that, “the non-oil economy of the UAE is projected to grow by an average of 4.1 per cent annually between 2019-23, compared to the 2.8 per cent recorded in the 2014-18 period.” In the non-oil economy, transport and communications are set for 7.9% average growth till 2023, construction 4.2% and real estate and business 3.8%.We have 18 offices across the globe and we manage over $2billion for our 20,000+ clients
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