Dubai economic

Dubai: Improved quality of life has helped Dubai earn a place in the ranking of global
cities for liveability, according to a new international city survey.
Survey authors, Economist Intelligence Unit, said Dubais scores fared better in this
years edition of the Liveability Ranking and Overview August 2015 report, pushing
Dubai to 75th spot out of 140 total cities polled.
The survey ranked cities based upon relative comfort variables across five categories
stability, health care, culture, environment, education and infrastructure.
According to the survey, obtained by Gulf News, Dubai ranked third in a list of 10 mostimproved cities in the last five years, with Harare, Zimbabwe, ranked most-improved
followed by Kathmandu, Nepal, in second place.
In the Gulf, Kuwait was ranked two places behind Dubai, coming in fifth as the mostimproved city with an overall global ranking of 83rd place.
By contrast, Damascus had the biggest fall in rankings to dead last in the last five years
with Kiev, Ukraine, taking the place of the second worst globally.
The survey stated that cities moving up the ranking are largely countries that have
enjoyed periods of relative stability following falls in liveability as compared to 57 cities
that saw declines in liveability.
Three cities in particular, Tripoli, Kiev and Damascus, have seen significant declines
illustrating that conflict is, unsurprisingly, the key factor in undermining wider liveability,
authors of the report stated.
Dubai resident Rana Al Sayed said she wasnt surprised by Dubais improved presence
on the liveability survey noting that the peace and stability enjoyed by the city was a
critical factor in her move from the UK.
Dubai is very stable and I like that. I dont worry about crime and it is very peaceful to
live here. It is a good city to live and enjoy your life, especially if you are young, she
said.
Kathryn Staikos has lived in Dubai for several years and said Dubai is highly stable.
I feel confident that life here will be better for me, at least for now and in the next couple
of years. Dubai is a safe place to live, I think thats why so many expatriates are moving
here from all over the world, she said.
http://gulfnews.com/news/uae/leisure/dubai-ranked-75th-among-world-s-mostliveable-cities-1.1569713

Growing trade and tourism has helped Dubai become one of the top five fastest growing cities in
the world, according to a survey of 300 cities by a leading American think tank.
Dubai is the fifth-highest performing metropolitan economy in the world for last year the
Brookings Institution said, as an uptick in trade and tourism positively impacted the emirates
employment and GDP per capita during the period.
The Brookings Global MetroMonitor survey ranks the economic performance of the worlds
largest 300 metropolitan economies over the period, based on growth in GDP per capita and
employment rates.
Dubais ranking for last year was boosted by a 4.5 per cent growth in GDP per capita and a 6.5
per cent increase in employment during the period. The emirate was ranked 18th in the 2013
survey.
The strength of the emirates economic recovery since the financial crisis is highlighted by its
climb into the top five last year compared to its ranking of 167th in 2012. In 2010 it was second
from bottom at 149th out of 150 cities surveyed.
Metropolitan areas with a specialisation in trade and tourism benefited from sustained growth in
global flows of goods and people, according to Brookings.
Following years of sluggish expansion, international trade accelerated in 2014, helping spur
growth in infrastructure hubs such as Atlanta, Jinan, and Qingdao.
The Chinese territory Macau, famed as one of the worlds largest gambling centres, topped the
think tanks economic performance rankings for last year, followed by the three Turkish cities of
Izmir, Istanbul and Bursa.
GDP per capita in the 300 metro areas grew by 1.3 per cent in 2014, compared to 1.6 per cent in
2013, according to Brookings. Employment grew at 1.5 per cent in 2014, the same as in 2013.
Economic growth across each region for the period is extremely uneven, according to the
Brookings research analyst Joseph Parilla.
In developed economies like North America and western Europe, cities like London and Houston
are flying high, while others like Rotterdam and Montreal are struggling, he said. Developing
markets are growing faster overall, but vast differences separate cities in central China from
those in the northeast, and cities in Peru and Colombia from those in Brazil and Argentina.
An example of this in the Middle East is Abu Dhabis drop in ranking to 137. The capitals GDP
per capita increased just 0.3 per cent from 2013-14 alongside a 2.1 per cent increase in
employment for the same period, according to Brookings.
The report for 2012 ranked Abu Dhabi 110th. In 2010 it ranked 43rd

http://www.thenational.ae/business/economy/dubai-enters-top-five-rankedfastest-growing-economies

Dubai Ranked Fourth Most Popular Destination in the World:

MasterCard Global Destination Cities Index
Emirate projected to attract 14.3 million international visitors in 2015, making it the
highest ranked city in this category
Dubai continues to climb the ranks as one of the top destinations for international travellers
according to the findings of the MasterCard Global Destination Cities Index, released today.
Dubai has consistently advanced its position since the launch of the Index, ranking eighth in
2012, seventh in 2013, fifth last year and fourth this year. London topped the list in 2015, followed
by Bangkok and Paris.
Since the inception of the Global Destination Cities Index in 2009, Dubai has continued to climb
the ranks as an international travel destination for both business and leisure purposes, said Eyad
Al Kourdi, Country Manager UAE, MasterCard. The future ranking of the Emirate looks very
promising. As Dubai gears towards Expo 2020, were excited to see the opportunities that will
unfold to reinforce its position as a key economic driver.
Driven by insights into travel patterns, the Global Destination Cities Index provides a ranking of
the 132 most visited cities around the world. More than just a travel tracker, the Index delivers
deeper understanding of how people move around the world and speaks to the importance and
prominence of the worlds cities as homes, destinations and engines of growth.
According to the study, Dubai is expected to receive almost 14.3 million international visitors in
2015, an increase of 8 per cent since 2014. When looking at the number of international
overnight visitors that destination cities attract per city resident, Dubai is the world champion with
5.7 visitors per resident (an increase by 0.8 from 2014). With that in mind, it is no surprise that
the city generates more international overnight visitor expenditure per resident than any other city
(estimated at $4,668).

http://newsroom.mastercard.com/mea/press-releases/dubai-ranked-fourth-mostpopular-destination-in-the-world-mastercard-global-destination-cities-index/

Aviation to contribute $53.1 billion to Dubais

economy, 37.5% to its GDP and will support
over 750,000 jobs by 2020
Latest Oxford Economics Report examines continued impact of
aviation sector on Dubais economy and projects continued growth
beyond 2020
Monday, November 17, 2014 DUBAI, U.A.E., 17th November 2014:
Emirates airline, Dubai Airports and the aviation sector as a whole contributed
$26.7 billion to the Dubai economy in 2013, which was almost 27%* of Dubais
GDP and supported a total of 416,500 jobs accounting for 21% of the
emirates total employment. These figures were based on the latest report
Quantifying the Economic Impact of Aviation in Dubai conducted by global
research firm, Oxford Economics, as a follow-up to a 2011 study done by the
same firm.
The objective of the report was to quantify the economic impact of the aviation
sector and its subsequent Dubai-based supply chain. In addition, the report
explains the benefits that aviation brought to Dubais economy in 2013 in
terms of gross value added (GVA)** and employment, and provides forecasts
for the sector and its knock-on effects in 2020 and 2030.
The report re-affirms aviations growing significance as a major engine of
economic development, and its far-reaching contributions to other industries
as a catalyst for a spectrum of economic activity.
Dubais success stems from a clear vision, careful planning, and collaborative
execution. It is no accident that we are a global aviation hub today. It has taken
us years to build up the critical competencies and infrastructure that we have
today, and we now have a solid base on which to further develop. We will
continue to take a consensus-based approach to infrastructure investment,
embrace open competition, and focus on opening up and connecting markets
through efficient operations. At the end, we want Dubai to be the top choice

for international travellers and traders as a destination, and as a transport

hub, said HH Sheikh Ahmed Bin Saeed Al Maktoum, Chairman and Chief
Executive of Emirates Airline and Group, Chairman of Dubai Airports and
President of the Dubai Civil Aviation Authority.
Core impact of aviation: It is estimated that the aviation sector, including the
Emirates Group, Dubai Airports, and other aviation businesses such as
airlines flying into Dubai, regulatory authorities and Dubai Duty Free, had a
core impact of US$16.5 billion GVA in 2013. This includes direct, indirect and
induced contributions and is equal to 16.5% of Dubais GDP, supporting over
259,000 Dubai based jobs.
Moreover, for every $100 of activity in the aviation sector, a further $72 is
added in other sectors of the local economy from supply chain connections
and expenditures. For every 100 jobs created in aviation, an additional 116
jobs are created elsewhere in Dubai.
Tourism benefits: Aviation has proved to be an indispensable catalyst for the
growth of Dubais tourism industry. Tourism and travel activities in 2013 had an
economic impact of $10.2 billion GVA supporting a further 157,100 jobs. In
2013, Dubai welcomed nearly 10 million non-UAE visitors who spent $13
billion, accounting for around 1% of foreign visitor spend globally that year.
The success of Dubai as a destination has been a public and private effort to
invest in world-class aviation and tourism infrastructure to support the influx of
visitors. The results have paid dividends and Dubai currently captures a 0.4%
share of the worlds business and tourism traffic, double the share it had in
2000.
Connectivity: One of Dubais greatest assets is its enhanced connectivity. In
2013, Oxford estimated that passengers could connect from Dubai to 25 cities
(or 81% of world cities) with populations of over 10 million people. Overall,
Dubai had direct passenger flight connections to 149 cities with populations of
over 1 million people, creating potential export markets of over 916 million
people, or 13% of the worlds population. Cargo tonnage between 1990-2013

handled in Dubai has grown on average of 13.5% per year, compared to

global average trade volumes of 5.6% per year.
The passenger and cargo connectivity provided from Dubai has positively
impacted Foreign Direct Investment (FDI) and trade. It also has provided
greater access to foreign markets, encouraging exports, and increasing
competition in the local economy, benefiting consumers.
Economic benefits in 2020 and 2030
Between 2014 and 2020, the contribution of the aviation sector to Dubais
economy is expected to grow at a faster rate than the economy as a whole, on
the back of strong growth in international passenger traffic and cargo. The
sectors airline and airport capacity continues to expand to accommodate for
growing demand.
Using industry growth forecasts and modelling projections based on current
expansion plans for Dubai International (DXB) and Al Maktoum International at
Dubai World Central (DWC), it is estimated that the overall economic impact of
both aviation and tourism related activities will rise to a robust $53.1 billion in
2020. This will be equivalent to 37.5% of Dubais GDP, supporting over
754,500 Dubai-based jobs.
By 2020, it is estimated that Emirates will fly 70 million passengers, and the
airline and its partners are already progressing plans for the right infrastructure
to be in place to support and capitalise on passenger growth. The same year,
Dubai expects to welcome over 20 million visitors for Expo 2020. Projects to
support the six month mega-event in Dubai are already underway. This
includes a sizable increase in airport capacity which encompasses expansion
of airspace, airfield, stands and terminal areas to allow Dubai International to
accommodate 60% more aircraft stands by 2015, and service 90 million
passengers by 2018. By 2020, Dubai International is estimated to receive
126.5 million passengers, almost 30% higher than its original 2010
assessments.

Looking further ahead, the total economic impact of aviation by 2030 is

projected to grow to $88.1 billion and will support 1,194,700 jobs.
A summary of the report and the full Oxford Economics report, Quantifying
the Economic Impact of Aviation in Dubai, can be found at:
http://www.emirates.com/english/about/int-and-gov-affairs/our-businessmodel/dubai-s-aviation-model.aspx

*The Oxford Economics Report only quantifies the direct, indirect, induced and
tourism benefits, and do not attempt to put a value on connectivity benefits as
in the 2011 report Explaining Dubais Aviation Model. For comparison, the
direct, indirect, induced and tourism benefits in the 2011 report totalled
US$19.6 billion, or 24% of GDP.
**Gross Value Added (GVA) is defined as the contribution an institution,
company or industry makes to Gross Domestic Product (GDP). The sum of
GVA contributions of all Dubai organizations is equal to Dubai GDP. In simple
terms GVA is understood as turnover minus the cost of bought-in goods and
services used in the production process.

http://www.emirates.com/media-centre/aviation-to-contribute-531-billion-todubais-economy-375-to-its-gdp-and-will-support-over-750000-jobs-by-2020

Economic diversification and Expo 2020 to shield

Dubai from oil price rout
Dubais economy is expected to slow down for the year as a whole, as the construction and
property sectors languish and global trade flows ebb. But, in the end, the emirates diversification
will shield it from the oil price rout.
Last year, the Dubai economy grew by a healthy 4.1 per cent, according to data from the Dubai
Statistics Centre.

For this year, forecasters are calling for growth of between 3 per cent and 4 per cent. The Expo
2020 project is expected to drive expansion next year and beyond.
At the higher end, the IMF forecast in April that Dubai would grow by 3.7 per cent this year. The
National Bank of Abu Dhabi, meanwhile, is predicting 3.5 per cent growth and the research
house IHS is at the low end, with a forecast of 3.1 per cent.
Alp Eke, the senior economist at NBAD, said this years expected easing is mainly because of a
slowdown in construction and real estate".
He said: The drop in growth is negligible, because Dubai will not be severely impacted by the
decline in oil prices."
Mining and quarrying, which includes the oil sector, contributed only 2.2 per cent to Dubais
economy last year. The biggest sector is wholesale and retail, with 29 per cent, followed by
property, with 15 per cent.
Expo 2020 and increased retail and tourism sector activity due to safe haven status will support
the growth and counteract the negative impact of oil price," Mr Eke said.
In 2016, transport and communication as well as [the] tourism sector are expected to benefit the
most."
This bullish view of Dubais economy is supported by last months increase in private-sector
business activity in the emirate to its highest level since March last year and the trough in
February, according to data gathered by Emirates NBD.
The banks Dubai Economy Tracker Index, which tracks a number of non-oil private sector
indicators, shows new sales wins and greater confidence among businesses and their clients
meant the latest expansion of private sector output was above the index average since it began
in 2010.
Trade, transportation and communication, and financial services are likely to post healthy growth
as well [as tourism], albeit more moderate through the remainder of 2016 before gathering pace
in 2017," said Bryan Plamondon, the director of Middle East economic analysis at IHS.
Other sectors exposed to weaker growth include manufacturing, utilities and construction.
Although these sectors should enjoy better prospects in 2017 as domestic and external
conditions stabilise and improve."
HSBC, however, has a more bearish view of the Dubai economy. Weak growth in Dubais key
service export markets should continue to weigh on demand," said Razan Nasser, a senior
economist for the Middle East and North Africa region at HSBC Middle East.
The slowdown in global trade also continues to pull back the transport and logistics sectors and
the dollar-driven dirham strength is still impacting the competitiveness of the leisure and retail
industries, making it difficult to draw in investments, including into the real estate sector."

Meanwhile, Expo 2020 should galvanise the economy in the next three years, once the projects
related to the global exhibition start kicking in. IHS projects UAEs non-oil growth to average 4.5
per cent between next year and 2020, partly thanks to the economic boost from the Expo.
Looking further ahead, Dubais preparation to host Expo 2020 should provide a further engine
for growth as projects are initiated, with the expo particularly important for the construction,
transport, tourism and hospitality sectors," Mr Plamondon said.

http://www.thenational.ae/business/economy/economic-diversification-and-expo2020-to-shield-dubai-from-oil-price-rout

DUBAI RANKED AMONG THE WORLDS

TOP 20 TOURIST DESTINATIONS
Dubai has been named one of the worlds top 20 cities for international tourism
arrivals by Euromonitor Internationals latest Top 100 City Destinations Ranking
report, released last week.
The city ranked 12th on the list, ahead of major global destinations such as Rome,
Shanghai, Seoul, Las Vegas, Prague, Milan, Tokyo and Barcelona, to name but a few.
Dubai was only out-ranked by the likes of Hong Kong and London, which took first
and second slot respectively.
Singapore, Paris, Bangkok and New York also featured in the top 10.
The top 100 list provided details of total international tourism arrivals in 2014. Total
arrivals to Dubai reached 11.387 million, up 8.9 percent compared to 10.458 million
in 2013.
This far outweighs the 8.78 million who visited Rome in 2014, and is more than
double the 5.272 million who visited Los Angeles the same year.
Hong Kong, the top city destination in the world as ranked in this report, received
27.77 million international arrivals in 2014.
Chinese tourists accounted for 67% of all visitors to Hong Kong revealing the
potential of this market for city destinations well connected to China such as Dubai.

With aviation infrastructure cited as one of the key factors driving international
visitors to most of Euromonitors top 10 cities, Dubai is well placed for further growth
given its own ambitious aviation plans.
Dubai International Airport is on track to report a record 75 million international
passengers in 2015, while operator, Dubai Airports, is also ramping up activity at the
citys new mega hub, Al Maktoum International, which will have the capacity to
accommodate more than 200 million passengers annually by the mid-2020s.
With both airports due to surpass the 100 million international passenger mark
before the end of the decade, Dubais chances of reaching its 20 million visitor target
by 2020 are looking very strong.
The emirate reported 14.2 million overnight visitors in 2015, the latest figures from
the Department of Tourism & Commerce Marketing (DTCM) reveal.

Dubais status as a premier business event destination for some of the worlds most prestigious
events has been reinforced by the latest rankings published by the Union of International
Associations (UIA), which saw the city maintain its number 14 position in the 2015 International
Meetings Statistics report.

We are immensely proud of the fact that Dubai has maintained its strong position in the UIAs
rankings in the face of renewed competition and strong economic headwinds, globally,
said Issam Kazim, Chief Executive Officer of Dubai Corporation for Tourism and
Commerce Marketing.
Our aim remains to break into the top 10 destinations and, together with our partners, I am
confident that we will achieve this as we build a global knowledge hub here in Dubai.
The latest affirmation of Dubais standing comes on the back of its selection to host the World
Expo in 2020. Dubai expects to attract as many as 20 million visitors by 2020.
This years International Meetings Statistics Report is the 57th Edition of the UIAs analysis of
trends in the international meetings industry, showing consistency in Dubais rise among
international meeting cities, after rising seven places in just two years up from number 21 in
2013.
The announcement follows another impressive showing in the standing of the worlds top
association meetings cities, as annually tracked by the International Congress and Convention
Association (ICCA). Released in May of this year, the 2015 ICCA Country and City Rankings
track the number of rotating international association meetings that take place around the world
each year. In 2015, a total of 56 were hosted in Dubai. This volume of events allowed the city to
retain its top 50 position globally, ranking 46th, following a significant leap from 63rd place in
2013. In the Asia Pacific and Middle East region rankings, Dubai also improved its position,
moving up two places from number 12 to 10.
Firmly positioned as the number one business events destination in the Middle East, Dubai also
entered the league of Top 25 Meeting Destinations in Europe Middle East Africa (EMEA) a first
in another major industry ranking annually tabulated by Cvent. The leading cloud-based event
management platform evaluates over 2,500 cities determined by a set of qualifying criteria
including meeting and event booking activity in the Cvent Supplier Network, as well as the
number of meeting and event venues available in the destinations ranked.

http://www.theevent.co.za/dubais-ranking-elite-business-events-hub-reaffirmed/