Dubai Grows Amid Global Economic Crisis. Despite the challenging financial conditions globally, Dubai continues to witness sustained net growth in new business and increased airline passenger arrivals. According to Mohammad Alabbar, Chairman Advisory Council, Government of Dubai, in November and December 2008, the government issued 1,285 new business licenses per month, significantly up from 1,045 per month for the same period in 2007. which means more jobs are being created here and people are hiring more than they are firing!
Good news to perform overseas trade and property investment.
DHL opens it $50m plus multi-purpose facility in Jebel Ali Free Free Zone. “The middle east logistics market is most dynamic in the world”
Oil prices down 75% from their July peak of $142 a barrel, are sinking fast with a global downturn weighing even more, OPEC has announced cuts amounting to 4.2 million barrels per day since September and is expected to announce further cuts when it meets in March. Did you know that Oil only contributes to 3% of Dubai’s $37 billion GDP? The top spot with a total percentage of 26% going to the construction industry. this means Dubai does not hit wonder which relies on its oil reserves.
Good news to perform overseas trade and property investment.
Airline passenger arrivals to Dubai have grown on average five percent in the last two months of 2008. so more and more people are visiting Dubai.
Whilst Dubai is a fully integrated participant in the Global economy and not immune to the worldwide financial slow down. Dubai represents the trade investment and knowledge hub for the Gulf, which has a population of over 40 million and an economy that has grown threefold in only 5 years. And still growing.
Good news to perform overseas trade investment.
Salaries in the emirates are all set to level out this year. The 2008 Gulf Bureau annual salary survey reveals that pay packages which once threatened to go through the roof are becoming more realistic as companies tone down their profit expectations and employees become more desperate to retain their jobs. Therefore, more people are renting in Dubai and enjoying the sunshine, sea and Dubai’s Tax free culture!
Good news to perform overseas trade and property investment.
The UAE’s inflation is set to go down from 12% to 2.5% this year and 3% next year making sure that people can afford to live in Dubai and the cost of living is decreasing.
What does all this mean for you?
For the first time the prices have slowed down in Dubai, only 20% growth in the past 12 months!!!
Good news to perform overseas trade investment.
With all the fact above, what are you waiting for? Dubai is the best choice for overseas property and trade investment.
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