Expo 2020 fuels confidence of Dubai's growth

The manufacturing sector retained its lead with respect to expectations in terms of volumes sold,
with 69 per cent firms expecting an increase in sales volumes in the next quarter. — Kt file photo

Businessmen are looking more bullish in Dubai as Expo 2020 is attracting more new projects that are fuelling large companies’ confidence significantly.
The Dubai business community has been significantly more optimistic during the first quarter of 2014 compared to the same period of the previous year. Optimism is especially high among manufacturing and services firms, according to the quarterly business survey conducted by the Department of Economic Development, or DED.
The composite Business Confidence Index for Dubai stood at 135.5 points in the March quarter of 2014, an increase of 22.4 points from the same quarter in 2013. New projects expected as a result of Expo 2020 are driving positive perceptions.
Following on from the previous quarter, large companies continue to have a stronger outlook compared to small and medium firms, as indicated by their corresponding index scores of 141.6 and 126.4, respectively. Large companies are more optimistic than SMEs on all the parameters recorded in the survey.