The economy of Dubai -despite all the worldwide difficulties that faced by the drop in the cost of oil, the financial instabilities in Europe, China and Russia and the low worldwide interest for products- managed to rise again and to succeed development of around 4% in 2015.
This economic growth stated by Dubai Chamber of Commerce and Industry president and CEO, Hamad Buamim. He was addressed to a quite big number of diplomats, during his speech, which took place in the UAE on Monday evening. ".. at the end of 2015, the economic growth was somewhere between 3.5 and 4.5 percent", Buamim notified. Commerce, tourism and financial services helped to that economic rise, he added.
More specifically, last week he mentioned, that Dubai recorded 4.5% economic development during the first nine months of 2015, according to Dubai Statistics Center (DSC), comparing the results with the same period in the previous year. Clarifying the purpose behind resilience of the country, Buamim said that arises from the diversified economy on emirate, which incredibly minimized the effect of the worldwide negative impacts of the gradual decrease on its different financial sectors.
At the end, economy of Dubai accomplished positive results in the territories of aviation, air cargo and tourism, which are becoming better compared with the previous year, while the trading factor stayed stable notwithstanding the difficulties, Buamim clarified.
Until the past year, the Dubai Chamber has measured more than 1,330 new members on average every month. The emirate strengthened its allure to worldwide financial investors by the expansion of more than 16,000 new organizations becoming members of Dubai Chamber and managing to take the association's aggregate membership to 185,000.