How Expo 2020 Dubai is forecast to impact the UAE economy next year - Arabianbusiness:
The outlook for the UAE’s economy remains promising, with economic growth expected to accelerate from an estimated 1.9 percent in 2019 to around 2.2 percent in 2020, according to new research.
ICAEW, the accountancy and finance body, said that Expo 2020 Dubai is expected to boost UAE's non-oil GDP growth to about 2.8 percent.
Its Economic Update: Middle East Q4 2019 reported, produced in partnership with Oxford Economics, said Expo 2020 Dubai, which is anticipated to attract 25 million visitors, is forecast to contribute up to 1.5 percent of the UAE’s overall GDP in 2020.
The report added that relevant authorities have stepped in to support non-oil activities in the country. Both Abu Dhabi and Dubai are implementing fiscal packages, while the recent interest rate cut by the US Federal Reserve, which the UAE Central Bank followed given the dollar peg, should support private sector credit growth.
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