Dubai is targeting inflation-adjusted growth of 2.1 per cent this year and followed up by 3.8 per cent in the next, on the back of Expo 2020 activities and improved foreign investment inflows. In fact, for next year, the government forecasts foreign investments to touch Dh50 billion from a 15-20 per cent gain over this year.
The inflow was Dh38.5 billion in 2018. Growth is then expected to ease to 2.8 per cent in 2021, a natural outcome following the one-off spike the economy will get through the better part of 2020. The emirate’s economy grew 1.9 per cent last year. These are based on forecasts put together by Dubai’s Department of Economic Development, one of the key policy-making entities within the government. In a first-quarter update, the numbers are starting to look promising, according to DED statistics.