Abu Dhabi spending remains high

05/12/2011 - Northern Emirates Property & Investment News Posted by Bob Brunskill
Abu Dhabi spending remains high

Capital spending in Abu Dhabi remained high in 2010, property investors and others with interests in the Middle East could be encouraged to learn.According to official figures form the Abu Dhabi Department of Economic Development, capital spending was as high as 38.3 per cent of public expenditure last year.This was slightly lower than the 39.2 per cent recorded in 2009, but much higher than 2008's 35.7 per cent."Current spending, comprising salaries and government purchases, accounted for nearly 61.7 per cent of total expenditure in 2010 compared with 60.8 per cent in 2009," the report said.According to the department, the rise in 2009 can largely be attributed to spending on wages, which increased to almost 10.3 per cent of total spending from 9.8 per cent in 2009.Meanwhile, Abu Dhabi has been confirmed as the host city for the World Travel & Tourism Council's Global Summit in 2013.