Over Half Of Dubai Businesses Are Looking Forward To An Increase In Commercial Activity In 2020

Posted on February 19, 2020 · 1 min read

Over Half Of Dubai Businesses Are Looking Forward To An Increase In Commercial Activity In 2020 - Featured Image | MEA Markets
Share this article

According to the Dubai Economy, more companies expect better business conditions and an increase in commercial activity due to the Dubai Expo 2020.

60% of companies in Dubai, UAE, are optimistic about better business conditions during 2020, in comparison to the 58% last quarter.

Business owners were less optimistic in 2019, particularly towards the end, with 19% of businesses rating their performance as below standards due to a lag in consumer spending and activity which deteriorated for the first time in ten years.

As a result of this, job numbers significantly fell, with the decline noted by economist David Owens as “one of the quickest recorded.”  

Additionally, ambiguity surrounding the US-China trade war also had an effect on entrepreneur sentiments.

However, despite this decline in business activity and optimism, companies in Dubai are now looking forward to the Expo 2020. Opening in October 2020, businesses are counting on the event to unlock future commercial opportunities.

Of the businesses surveyed by the Dubai economy, 56% said they expect a rise in commercial activity as a result of the Expo, 20% expect improvement in business or market conditions and 14% expect “visitor activity” to increase.

In relation to this, a spokesperson for the Dubai economy has stated that: “Improving domestic market conditions and strong prospects for international reach has seen businesses in Dubai welcoming 2020 with optimism.”

You might also like

Looking for more? Gain deeper insights with these recommended articles, selected to provide further value.

March 17, 2022 Saudi Arabia Announces 60 Water Projects Worth SR35bln at MENA Desalination Projects Forum 2022

Saudi Arabia announced more than 60 water projects, worth SR35 billion (US$9.33 billion), that will cement the Kingdom’s position as the world’s largest water desalination market, a top official told delegates at the 3rd MENA Desalination Projects...

March 24, 2023 Mozambique Expands Locally-Led Climate Resilience, with Support from the European Union

The Government of Mozambique and the European Union signed a 4,5 year agreement worth EUR 10 million to expand climate finance in the country through the Improving Local Climate Resilience in Mozambique (MERCIM) Program, technically supported by t...

September 6, 2021 Cloud and Microsoft Ecosystem Will Create 13,100 Jobs in Kuwait by 2024

Kuwait is accelerating its adoption of technology with large-scale investments that will create 13,100 new jobs in the economy, enabled through cloud and Microsoft’s ecosystem, according to new research by the International Data Corporation (IDC)....

Join our newsletter.

Gain Access To Exclusive Content

Stay Updated With The Latest News

It's Free To Subscribe

By signing up, you agree to receive marketing emails.

Join our newsletter box - side image
Trusted by the best teams around the world