Dubai predicts strong economic growth through 2015

Dubai has revived its growth forecasts in a sign of growing confidence in its economy, according to an FT Article.

At a World Economic Forum meeting in Dubai, which closed on Wednesday, Dubai officials communicated their national economic growth targets.

The government says nominal GDP will reach Dh490bn ($133bn) by 2015, up from Dh367bn in 2011, with Dubai averaging real growth of 4.5 to 5 per cent a year through 2015.

“Dubai’s economy is well diversified and resilient to external as well as domestic shocks,” Sami al-Qamzi, director-general of Dubai’s department of economic development. “We think that growth will be more sustainable, albeit at a more moderate pace than in previous years.”

This article underlines the stability of the Dubai economy and the fact that Dubai remains a great destination to build a long term career or start a business.

About the author

Kazim Ladimeji is the Director of thecareercafe.co.uk—a resource for start-ups, small business and job seekers. It includes a blog with career and small business advice articles. Kazim is a Chartered Member of the Chartered Institute of Personnel and Development, and has been a practising HR professional for 14 years.

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