Dubai economy expands 2.2% in 2010

21/03/2011 - Dubai Investment News Posted by Bob Brunskill
Dubai economy expands 2.2% in 2010

Recovery continued last year in Dubai, with the emirate's economy expanding by 2.2 per cent over the course of the year.

The region's statistics office reported the positive growth on Sunday (March 20th), with it counterbalancing the similar contraction level which occurred in 2009.

Indeed, the recovery was said to be bolstered by a resurgence in trade flows and tourism, the office told Reuters in an email.

"The GDP for the first nine months of 2010 increased by 2.4 per cent and Dubai Statistics Centre expects that the GDP for the whole year will increase by around 2.2 per cent," it continued.

Meanwhile, the economic output of the whole UAE is expected to grow by over three per cent this year as oil prices remain high and political struggles grip nearby nations, a poll by the news provider revealed.

The investment climate in Dubai will likely to be boosted even further as a result of the inauguration of the new Al-Maktoum airport, the opening of more hotels, the completion of infrastructure projects and the strength of the banking system.ADNFCR-2019-ID-800470261-ADNFCR