2011 was a highly positive one for Dubai’s economy, according to new figures from the Department of Economic Development (DED). The DED issued 14,360 new business licenses throughout the year, marking a growth of 7% on 2010.
As well as demonstrating Dubai’s strong economic performance, the high number of new licenses issued also points to the city’s global attraction as a business hub. "It shows the high level of investor confidence in Dubai, chiefly on account of its leading economic role in the region and the world,” commented His Excellency Mr Sami Al Qamzi, Director General of DED.
In addition to new business licenses, the total number of amended permits rose by 18% to 58,129 in 2011, while 97,355 current licences were renewed, marking a 4% rise on 2010. Dubai’s tourist economy also rose by 5% in 2011, according to the DED, adding weight to the emirate’s strong economic performance.