Thursday 11 February 2021

Coronavirus News: #Dubai Bets on #UAE Vaccine Drive to Keep Economy Open - Bloomberg

Coronavirus News: Dubai Bets on UAE Vaccine Drive to Keep Economy Open - Bloomberg

As other wealthy nations tightened Covid-19 restrictions over the winter, Dubai decided to take a risk, gradually reopening its economy while embarking on one of the world’s most extensive vaccination drives.

How the Middle East’s business and travel hub fares could become a test case for other global cities as they weigh a return to normality.

Economically, Dubai is already reaping some benefits. A gauge tracking business activity showed output rising for the second consecutive month in January. Employment has edged up as non-oil firms see conditions improving. The economy of the United Arab Emirates, of which Dubai is part, is forecast to grow 1.3% this year, according to the International Monetary Fund, after contracting 6.6% in 2020.

The cost has been a spike in infections that stretched hospitals, attracting criticism at home and abroad, even as the vaccination program gathered pace.



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