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FINANCIAL NEWS
UAE crushes regional rivals as top business hub
28 May 2016
(MENAFN) Emirati growth in financial and business services, trade and logistics, and tourism activity, over the last couple of decades, has played an important role in fueling Dubai’s emergence as a global hub.
Manufacturing activity in the UAE increased at an annual average rate of 3.1 per cent between 2004 and 2014, plus the nation saw cumulative growth in exports of almost 117 percent through the cited period.
The country has set itself as a safe, family-friendly and low tax environment, which combined with its connectivity to other global centers, has been attracting the world’s growing population of high-net-worth individuals.
Looking forward, with the IMF’s forecasts showing that the federation will rise at an average rate of 3.6 percent yearly over the next 5 years, it is unsurprising that global businesses continue to set up shop in this market.
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