Dubai’s population dropped by 8.4% last year, the steepest decline in the Gulf region, as expatriate workers were forced to leave amid the economic upheaval wrought by the coronavirus pandemic, S&P Global Ratings said.
The drop in Dubai -- the Middle East’s hub for business and tourism -- compares with a 4% decline for the six-nation Gulf Cooperation Council, according to S&P estimates. Job losses accelerated in the region last year as the pandemic spread.
Expatriates make up the majority of the population in the United Arab Emirates, of which Dubai is a part. Residency permits in the country are usually tied to employment and many expatriates have to leave if they lose their jobs.
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