Oxford Business Group, which specializes in global research and consulting, has stated that Dubai has already begun to see the benefits of the Expo 2020 as the host of the event, across many sectors, including the transport and storage sector (which grew by 6.2% during the first half of This year, according to the Dubai Statistics Center), in addition to the construction sector, due to the start of the implementation of the huge infrastructure projects related to the upcoming exhibition.
This came in a new report for the group on the current trends in the Dubai economy, and the strategies that are being developed and adopted by various sectors to enhance the future growth of the emirate.
The Dubai 2020 report launched by Oxford Business on the NASDAQ Dubai, today, reviewed the economic landscape in Dubai for 2020 and the next stage, where the group's chairman, Michael Benson Colby, rang the opening bell.
The report pointed to the expectations of the International Monetary Fund to increase the growth of the UAE economy during the year 2020 to reach 2.5%, compared with an estimated growth for 2019 of about 1.6%, against the background of the Expo 2020 Dubai exhibition and the amount of government financial spending amounting to 50 billion dirhams.
The report stated that with Dubai heading towards the new decade, the emirate is focusing focused on developing many areas with high growth rates, including the rapidly developing technology sector.
The Dubai 2020 report touched on various projects designed to be the catalyst that drives the emirate towards the digital age and the fourth industrial revolution, indicating that at the same time, programs such as the Dubai Plan 2021, the Dubai Clean Energy Strategy 2030, and the independent transport strategy, among others, will seek to take advantage of the momentum What Expo 2020 is gaining to support future growth and innovation in these areas.
In a separate coverage, the "Oxford Business Group" highlighted all the major sectors in Dubai, and the various developments taking place, as it reviewed its dimensions and benefits that will be reflected in Dubai and the region in general. Following the record and unprecedented spending by the emirate of $ 10.5 billion (about 38.5 billion dirhams) on foreign direct investment in 2018, Dubai continues to establish itself as a strategic hub for various sectors, including financial services, retail trade, transport and logistics.