GDP Growth in the UAE Expected to Reach 4.5% in 2012

Last year, GDP growth in the UAE hit 4.1 percent. That growth is expected to rise to 4.5 percent for 2012, according to the Ministry of Economy, which puts it well above the global GDP growth forecast of 2.9%.

These most recent forecasts for economic growth match earlier estimates. Back in September, the central bank reported that GDP growth in the UAE should surpass IMF estimates of 3.5 percent.

Explaining the optimism of such forecasts, the bank stated that conditions in Dubai, Abu Dhabi and the Northern Emirates, as well as rising oil prices, supported robust expansion.

As outlined in the Dubai Economic Outlook for this year, growth in Dubai was around 4 percent or higher. Abu Dhabi is expected to achieve similar levels, driven by recent decisions to move forward with landmark projects and boost industrial development.

This means that Dubai and the UAE are very strong economically and are excellent locations for you to start or continue your career.

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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