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According to ICAEW’s latest Economic Insight Middle East report for Q1, a pick up in non-oil activity, rising public spending at the Federal and Emirate levels, higher investment ahead of the Expo 2020, and continued regional economic recovery will all boost the UAE’s economic growth in 2019.
The non-oil sector is expected to accelerate from an estimated 1.3% in 2018 to 2.1% in 2019. This growth underscores the UAE’s ambitious economic transformation agenda, which strives to decrease oil dependency.
With Expo 2020 around the corner, the Arab nation remains a major global tourist and FDI destination.