The Department of Economic Development (DED) of Dubai has recently given a very positive feedback about the prospects of Dubai’s business arena, especially in respect of manufacturing and services companies. The Business Confidence Index (BCI) has reached 136 points at the beginning of 2014, which represents an increase of almost 23 points, compared to the first quarter of last year. As a result of Dubai clinching the EXPO 2020 victory earlier this year, the construction for countless new projects has mushroomed in Dubai and is in full swing. Such projects include hospitality sector, infrastructure, service industry and a number of other areas.
The survey prepared by DED, which was based on data from over 500 companies, has shown that the market is by and large optimistic in terms of the upcoming order volumes and the stability of prices. The market participants expect an increase in sales volumes of at least 10% in the second quarter compared to the second quarter of the last year. Around 30% of the surveyed companies were confident in increasing the number of staff in the second quarter, which is 7% more than in the second quarter last year.
The majority of market participants consider Dubai quite straightforward in terms of doing business, where issues are effortlessly managed due to benign governmental regulations and reasonable business operation costs.