Oxford Business Group Launches 2015 Economic Report on Dubai
Dubai’s recovery from the global financial crisis of the late 2000s and its preparations for the 2020 Expo are just two of many topics given wide-ranging coverage in a new report just released by the global publishing, research and consultancy firm Oxford Business Group (OBG).
The Report: Dubai 2015 combines detailed analysis with data charting the latest developments across Dubai’s economy, which have put it on course to notch up GDP growth of around 4.5% this year and in 2016.
The new publication contains a wealth of facts and figures relating to the many infrastructure projects planned for the Expo, which, together with other high-profile events, is expected to create around 277,000 new jobs and help the emirate reach its goal of welcoming 20m visitors by 2020.
The cautious revival under way in Dubai’s construction industry is a key focus of OBG’s latest report. Figures put the sector’s contribution to GDP in 2013 at 8% which, while well below 2008’s 14%, suggests the emirate is unlikely to witness a repeat of the overreach that led to the 2009 property crash.
The Report: Dubai 2015 explores the significance of index provider MSCI’s decision in 2014 to upgrade the UAE from frontier to emerging market status, which is already boosting liquidity levels and generating new interest among companies considering listing.
The emirate’s efforts to carve a niche in the global Islamic finance market are also analysed, including its drive to develop sharia-compliant industries and anticipated equities and sukuk. There is also detailed coverage of developments in the emirate’s transport sector, including the key role played by DIA, which is now the busiest airport in the world in terms of international passengers, and Dubai’s hopes of becoming a major maritime centre.
OBG’s 2015 report is available for sale in print or for download from the OBG website. It contains a contribution from the Vice-President and Prime Minister of the UAE and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum, together with a detailed, sector-by-sector guide for investors. The investment guide also features a wide range of interviews with other leading representatives, including the Chairman of the Dubai Supreme Fiscal Committee Sheikh Ahmed Bin Saeed Al Maktoum, the Secretary-General of the Gulf Cooperation Council Adul Latif Al Zayani, the Secretary-General of ASEAN Le Luong Minh and the Chairman and President of The Trump Organization Donald Trump.
Andrew Jeffreys, OBG’s CEO, said he was confident that the Group’s latest report would give business leaders the essential stats they were looking for, supported by the detailed analysis which has long been a hallmark of the company’s reports.
“Our research has highlighted Dubai’s many achievements over the years, which range from building a core services sector to helping the UAE carve a niche as a key GCC member,” he said. “While the 2020 Expo is making headline news, it remains just one of many exciting initiatives planned for Dubai which will serve the emirate well as it continues to develop its economy.”
OBG’s Managing Editor for the Middle East Oliver Cornock agreed that the latest data on Dubai, illustrated via the Group’s infographic, suggested the emirate was heading for a new growth cycle.
“While infrastructure and Islamic finance are two of the talking points amongst investors eyeing Dubai, other aspects of its development could give the emirate an edge when it comes to attracting new capital inflows,” he said. “We expect initiatives such as Dubai’s plans to introduce the PPP model and get public infrastructure online to be instrumental in boosting investor interest, bringing an opportunity to broaden the emirate’s tourism industry and other related sectors.”
OBG marked the launch of The Report: Dubai 2015 with an accompanying infographic on Dubai’s five key service sectors. Representing a new addition to the group’s reporting, the infographic is helping OBG to meet investors’ demands by ensuring they have the numbers they want at their fingertips, backed up by in-depth, sector-by-sector coverage.