![]() ![]() with a resurgence of the pandemic the key source of risk to the outlook,” the IMF said.Īnalyst James Swanston at Capital Economics also warned that while Expo could provide a boost for Dubai, its real estate market remained oversupplied and billions in outstanding government debt remained a danger for the city-state. “Uncertainty around the recovery remains globally and in the UAE. The IMF warned challenges remain, however. ![]() Arsenal players arrived in Dubai for their warm-weather training sessions and took the opportunity to visit the Emirates pavilion at Expo 2020. Find the latest breaking news and information on the top stories, weather, business, entertainment, politics, and more. ![]() Higher oil prices, coupled with a 3% growth in the country’s non-oil economy, should help. Expo 2020 Dubai News Updates Terry Fox Run, a charity run to support cancer research in the UAE, will be held at Expo 2020 on Saturday, February 5. Just as Dubai prepared to open the Expo, the International Monetary Fund released a statement saying it expected the Emirati economy to see a “gradual recovery” after its gross domestic product fell by 6.1% in 2020. Dubai already said it would give government employees six days off to explore the Expo site as long-haul carrier Emirates is offering free tickets to travelers. EY told The Associated Press it hadn’t updated any of its figures and Expo officials now say they expect some 25 million “visits” both in person and online. Relying on a projection of 25 million visitors, auditors EY in 2019 estimated a $6 billion boost during the event. Meanwhile, questions also remain over the economic boost the Emirates will see from the event. Join the 4th edition of Crypto Expo Dubai organized by HQmena for crypto traders, investors, and enthusiasts on Dubai 20-21 September 2023 at Festival Arena. ![]()
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