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Dubai expects five per cent economic growth

UAE economy also to continue growth in light of good performance of various sectors

The UAE economy is in a privileged location between the region and the world economies, despite the economic imbalance experienced by the world, says a senior official.

Ahmad Bin Byat, vice-chairman and managing director of government-owned Dubai Holdings, expects the economic growth of the city of Dubai to record five per cent during 2015, reports London-based Al-Hayat.

Bin Byat also expects the UAE to continue to grow its economy in light of the good performance of various sectors.
The vice-chairman and managing director of Dubai Holdings stresses Dubai’s distinguished position in the tourism, information and communications, hospitality and real estate development sectors.

He also says that Dubai owns a large share of global tourism and is ranked as the fourth biggest tourist city in the world in terms of ratio of number of visitors to the city’s population.

He adds that Dubai Holdings is keen to invest abroad with its foreign investments stretching in a number of countries such as Tunisia, Morocco, Egypt, Malta, India, and Greece.