Title: The eyes of the world increasingly looking in Dubai’s direction
- The incredible Dubai economy has helped it emerge as the place where many of the globe’s leading business people have chosen to make their regional, or even worldwide, home.
- Dubai economy was almost exclusively about oil; today, however, Dubai is only directly dependent for around 4% of its GDP on oil revenues.
- Everywhere you look you’ll find evidence of a huge amount of infrastructure spending – roads, airports, residential areas, hotels, attractions.
- The Gulf Cooperation Council (GCC) expects to invest US$ 21 trillion dollars over the next 5 years across the GCC, much of it in Dubai.
- The objectives include sustaining real economic growth at a rate of 11% pa to reach a GDP of US$ 108 billion by 2015 and to increase real GDP per capita to US$44,000, by focusing on tourism, transport, trade, construction and financial services.
Source: Emirates Website