Dubai economy least vulnerable to future economic crises

Dubai’s economy will be the least vulnerable to future economic crises, according to the report from global real estate consultancy, Knight Frank.

The assertion in the report stems from the major industrial infrastructure investments launched by the UAE government in 2016 and the current investments that continue in the build-up to EXPO 2020 Dubai.

Citing the current preparations going at full tilt for EXPO 2020 Dubai, the report said the current real estate and tourism investments are expected to further consolidate and propel the economy to further new heights, especially after the global oil prices recovered some of the losses sustained over the past year.

The UAE Government investments include Khalifa Industrial Zone Abu Dhabi, KIZAD, Dubai Industrial City, Dubai South, and the expansion of the Dubai Airport Free Zone Authority, DAFZA, as well as the Al Saja'a Industrial Oasis, launched by the Government of Sharjah.

Mega investments like these reflect the country’s ambitious economic diversification plans, which form part of its strategy to ensure an innovation-based economy based on intensive knowledge activities. This in turn will contribute to the accelerated efforts made to promote the country as a global and sustainable business destination.