DUBAI's Global Downturn Is Starting |UAE| , Dubai 2020 Recession
Channel: Techno Gaming
Date: 30/03/2020

Dubai 2020 Recession - The Most Dangerous Recession Ahead For Dubai, UAE .Crisis in Dubai: Dubai Economy is Melting like a Glacier in the Desert, How? #DubaiEconomy #Dubai #UAE  #MBS #SaudiCrownPrince #Star2Sun #MohammedBinSalman  #Dubai #UAE  #MBS #SaudiCrownPrince 
Sentiment soured further in the United Arab Emirates as a gauge of business conditions in the second-largest Gulf economy slumped to an eight-year low.

In an echo of disputes that have roiled global trade, sales to foreign customers posted a “weaker upturn” and new orders stagnated in the U.A.E. in August, according to IHS Markit. Its Purchasing Managers’ Index dropped to 51.6 from 55.1 in July, declining for a third month and edging close to the threshold of 50 that separates contraction from growth.

Fears of a global downturn are deepening as signs of a manufacturing slump have emerged from Europe to Asia. Domestic competitive pressures are compounding the outlook for the U.A.E., a federation of seven emirates that includes oil-rich Abu Dhabi and tourism and trade hub Dubai.


Dubai, beautiful, full of potentials and the land of economic advances. Or was it a long time ago.

 Dubai's economy has been growing so little in the past decade that many believe it cant be even called growth.

Surveys show that the economy has seen a 1.94 percent growth in 2018 which was Dubais slowest pace since 2009 when the economy crashed due to a debt crisis.

A big part of Dubais economy is focused on tourism and international business services. These two sectors have been hurt by a rough patch amid a fall in the real estate market.

Experts say a weakening external backdrop, a strong US dollar and the ongoing correction in the property market are headwinds for a number of vital sectors.

Property prices in Dubai have fallen by more than a quarter from their peak in 2014. It is expected that the prices fall 5 to 10 percent in the near future as a result of a continued gap between supply and demand.

What happened in 2009 that still haunts the sheikdom? Collapsing property prices put Dubai in a debt crisis, so to tackle the situation, Dubai asked a 20 billion dollar bailout from oil-rich Abu Dhabi. After that, Dubais GDP grew at 4.8 percent in 2013 before starting to decline and the drop accelerated last year after the property sector slumped and the number of tourists stagnated.
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