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Will Dubai economy will shine in 2010?

Created by : Rajib Chakraborty, Relationship/Account Manager, National Bank of Fujairah  | 01 28 2010 07:30:54 +0000
Industry : BankingFunctional Area : Personal Finance(Personal Interests)
Keywords : in turn of real estate banking and trading
Activity:  247 views;  last activity : 07 06 2010 20:18:09 +0000
 
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Yes it will Vs May / May not be
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According to me the Dubai economy is forecast to contract in 2010 for the second year in a row. It is anticipate that the Dubai's economy will contract 0.4 per cent in 2010, as the key construction and real estate sector continues to be a drag on growth in the Emirate, but a massive improvement from a five per cent contrast last year. But as a whole the UAE economy will emerge from the recession this year with a 2.5 per cent GDP growth.
By Esha Johar, Risk Analyst, Irevna  01 29 2010 08:57:44 +0000
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An economy that has gone into default cannot be considered as having done with. They might be finding it difficult to repay back their debtors, the rest of their economic processes are in place. So once the world economy starts pumping up again like US is doing now, Dubai will be back in action or may be it still is.
By Mathew Cherian, Research Associate/Analyst, Western Michigan University  | 01 30 2010 18:47:33 +0000
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it is based on construction n that is a limited period industry thats why it may boom
By Yashpal lather, M.E/M.Tech/MS student, GJU,S&T,Hissar  | 02 01 2010 21:40:45 +0000
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It may or may not, all depends on what package Govt. brings.
By R.K.MALHOTRA , Investment Advisor, WORKING FREELANCE  | 01 30 2010 04:09:47 +0000
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Look with this amount of debt it is very early to say that Dubai economy will shine in 2010. The mainstay of their economy is oil. For a very long time we haven't seen any new sector emerging and taking a lead in their economy.  Yeah they will come out of the debt but how long it will take remains a big question.


By Aditya Sharma, Insurance Advisor/Analyst, LIC OF INDIA, ICICI LOMBARD  | 01 29 2010 17:02:49 +0000
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Its very difficult to comment on it this time as we are still about to see many news in the coming month....as per reported data the total due was about $80 billion US dollar but some people are expecting the figure would be more than that...Abu Dhabi has come in rescue  by giving the aid of about $ 15 billion US dollar but that would not be sufficient...wht I feel is its really difficult time not for the Dubai but for the whole world and it will surely affect the world market...And I dont think the Dubai economy will shine in the near future having under huge debt in its bucket...
By Ravinder Pundir, Sr. Consultant/Business Analyst, Cisco Systems  | 01 29 2010 15:40:47 +0000
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With evryday new news coming into picture, we are confused regarding the fate of Dubai Market in 2010
By Rajib Chakraborty, Relationship/Account Manager, National Bank of Fujairah  | 01 28 2010 07:30:54 +0000
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