DUBAI TO RISE, NON-OIL SECTORS TO FLOURISH

A surge in the UAE’s economic growth is expected in 2018 that will open doors for more employment and higher contribution to GDP. A 4.4 per cent acceleration in the UAE’s economic growth is expected that would pick up acceleration from 2017 year-end and climb steadfastly in the next 18 months. Real estate, construction, industrial manufacturing, trade, tourism, aviation, infrastructure, health care, hospitality and retail are the business sectors that will be on the rise. The Dubai government will invest in road development and transportation facilities, while private entities will thrust completion of residential, commercial and hospitality projects, with a lot of FDI that will pave way for professional and skilled jobs opportunities. Expats will have wider jobs to choose from. Aviation sectors will have high traffic and the aviation industry will plan expansion of services accordingly. With the heavy influx of cross cultural people, the hospitality and service industries will boom along with the bustling tourism activities. Ever-changing trending retail will be thriving business during the demanding market phase. The property sector will aggressively climb in the years to come with numerous projects fermenting on Dubai soil. Media, digital trade, IT, finance, logistics, education are emerging areas where a lot of potential exists and wise investment in these areas will unfold benefits. The UAE’s long term-outlook looks promising. Certainly, 2018 will bring greater rewards for the industrial fraternity. It is clear the UAE economic buzz will show a sustainable and resilient ascent.