In 2009 Dubai's GDP reached to AED 174.6 billion dollars. In 2010 Dubai is expected to see a real GDP growth of 2.5%. Dubai's GDP growth has been growing at a steady pace over the past few years. In 1995 it was AED 41.3 billion, and by 2004 it had rose to AED 110.7 billion dollars.
According to Dr. Zainal Abideen Wafaee, a statistics expert at Dubai Municipality's Statistics Centre, Dubai should see changes in trade policies that will affect the emirate's trade performance. Wafaee stated that Dubai's economic growth is balanced and poised due the with wise economic policies that aimed at diversifying the sources of national income. The retail and wholesale trade sector played a pivotal role in the economic growth also. Wafaee suggested that for Dubai to keep up the pace of economic growth they should be more cooperation between local and federal organizations. Dubai believes that 2010 will be a recovery year due to increased investments in real estate.
I thought this was an Interesting blog. I can understand why Dubai has such a prominent economy because of all the wealthy investors and corporations involved in its construction and economic infrastructure. Real estate in Dubai must be ridiculously extravagant and expansive but if you have the money to do it I guess why not?
ReplyDeleteHmm...this was interesting to read a little more about Dubai. I don't know much about this country but this gave me a good idea of what the GDP looked like for this year that just passed and what it could possibly look like for 2010.
ReplyDeleteunbelievable, growth.
ReplyDeleteTo me, the economic success of Dubai has been and can only be its real estate. As long as this industry suffers, so does Dubai.
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