Home to more than 200 nationalities, Dubai holds the title of the world’s most cosmopolitan city following the latest World Migration Report - a testimony that the city has long been a meeting point for the world.
Dubai is not only a place to do trade and business, but also to share ideas, experiences and inspiration in an environment that provides unique opportunities to create lasting legacies.
The city has emerged as a global hub for financial services, logistics, hospitality and trade and is steadily growing in other sectors including healthcare, technology and clean energy, nourishing a strong and diverse knowledge base and community of trained professionals that make it the ideal location for association conferences, corporate meetings and business events.
Dubai’s economy has vastly diversified and is no longer dependent on oil, instead expanding into the trade, services and finance sectors. Over the past decade, Dubai’s economy has changed and grown across several sectors. This is supported by the emirate’s government, which is continuously working to improve commercial transparency and introduce dynamic regulations, encouraging the formation of small and medium enterprises (SMEs).
The UAE has an open economy and boasts high per capita income with a sizable annual trade surplus. Economic diversification has significantly reduced the portion of GDP in Dubai based on oil and gas output to less than 5 per cent. The UAE’s GDP is expected to grow by around 3 per cent in 2017, maintaining its position as the second largest Arab economy after Saudi Arabia.
As the business hub of the Middle East, Dubai has continued to invest in strategic infrastructure and transportation projects to support the growing service sectors and ensure a stable economic future.
The city’s evolution is set to come into sharp focus when it hosts the World Expo in 2020. Under the theme ‘Connecting Minds, Creating the Future’, Expo 2020 is set to attract visitors from around the world and will provide a platform to foster creativity, innovation and partnership.