World Expo 2020 win provides a further boost to Emirate’s strong economic recovery

428Dubai, 26 January 2014:  Dubai’s efforts to rebuild investor confidence, which were given an added boost by news that the Emirate has won the race to host the World Expo 2020, are explored in a new report just produced by the global publishing, research and consultancy firm Oxford Business Group (OBG).

The Report: Dubai 2014 examines the new investment opportunities which the Expo is set to produce, particularly in infrastructure, tourism and transport development and contains a detailed, sector-by-sector guide for investors..

Featured within the report are interviews with leading political, economic and business representatives including the Minister of International Cooperation and Development Sheikha Lubna bint Khalid bin Sultan Al Qasimi, the Governor of the Central Bank of the UAE Sultan bin Nasser Al Suwaidi and the President and the Secretary-General of the Common Market for Eastern and Southern Africa, Sindoso Ngwenya

OBG’s new report analyses Dubai’s banking industry, which looks to have largely recovered from the 2008 – 2011 economic crisis, supported by new regulations governing the real estate market and strong remittances.  It further contains wide coverage of the emirate’s real estate sector, charting the jump last year in property sales and price increases and explores the measures introduced in a bid to cool the market and prevent a housing bubble forming.

With the Emirate keen to further strengthen its position on the Islamic stage, The Report: Dubai 2014 shines the spotlight on the sharia-compliant financial services segment, which is outpacing conventional banking when it comes to growth. The publication includes a roundtable featuring contributions from experts based in the field who share their views on a broad range of issues; including the increasingly important part Islamic finance is playing in the broader economy.

Andrew Jeffreys, OBG’s CEO, said that the legacy of a debt burden from the 2009 real estate crash was coming under control. “Dubai is making a robust recovery from the recent downturn, as its 2013 first-half-year growth of 4.9% shows,” he said. “With GCC imports and exports up, and non-oil foreign trade also on the rise, our report indicates that Dubai can take plenty of positives into the new year, even before its Expo preparations begin in earnest.”

Regional Editor, Oliver Cornock added that he feels the Emirate’s financial turnaround makes for fascinating reading, while the economic effects of winning the right to stage the 2020 World Expo were huge. “Dubai is intent on building its tourism base to 20m a year by 2020 and the Expo is anticipated to attract another 25m over the six months it is staged, which will take the Emirate into 2021,” he said.

“Our report highlights the major investment in tourism and transport infrastructure during the years between now and then. We also look in detail at projects already in the pipeline, such as Dubai’s tramline initiative, its metro extension and plans to increase airport capacity.”

Featuring a fresh cover design by Dubai-based design agency ‘Brash Brands’, heralding a new look for all OBG reports, The Report: Dubai 2014 marks the culmination of more than six months of field research by a team of analysts from OBG. The publication assesses trends and developments across the economy, including macroeconomics, infrastructure, banking and other sectoral developments.

The Report: Dubai 2014 has been produced in collaboration with the Dubai Chamber of Commerce. Contributions have also been made by Emirates NBD, Dubai Islamic Bank, Merali’s Chartered Accountants and the law firm, Dentons.

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