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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 highly anticipated Expo 2020 and continued regional economic recovery will 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 as it strives to decrease oil dependency. With Expo 2020 nearing, the Arab nation remains a major global tourist and FDI destination.