DUBAI- As the global financial crisis continues to grip the world’s most advanced economies, the UAE holds prime position – amongst a handful of nations, the Middle East giant stands well positioned for growth, boasting an optimistic business community and robust investment opportunities.
Ranked fifth in financial stability by the World Economic Forum, and among the top twenty for ease of business, competitiveness and efficiency, the UAE is poised to become the world’s next top business hub. GDP grew at a rate of 4.1% in 2013, expanding to 4.5% year on year with 2015 forecasted by the IMF to achieve similarly impressive numbers. Dubai in particular leads the way for growth, accounting for 30% of the country’s overall GDP.
Budget surpluses and strong economic growth in the UAE create an environment where progressive budgeting and ambitious infrastructure planning further innovation, trade, and dialogue. With the directives and guidance of the UAE government “the government continues to invest in economic diversification, paving the way for other sectors such as the exhibitions industry to widen their scope“ says BR Communications FZE, Managing Director – Bahaa Fatairy.
At the epicentre of trade and travel, the exhibition industry reinforces Dubai’s vibrant tourism sector, bringing in visitors, exhibitors and upping demand vertically across related services such as hospitality, logistics, and F&B. Gitex Technology Week, Arab Health and Dubai International Boat Show remain only a few of the internationally renowned events bringing the world’s attention to Dubai’s burgeoning events and exhibition sector, a top contributor at 5% of Dubai’s economy, Successful in it’s bid to host the 2020 World Expo, all eyes will be on the world-class city and it’s ability to host large scale exhibitions. Described as the engine driving Dubai’s economy, it is up to individual stakeholders in the region to capitalise on growth opportunities and push future expansion.