Dubai Economy is pleased to present "Dubai 2021: Future Economy Prospects," which highlights recent macroeconomic and sector developments in Dubai's economy and the potential impact of government policy measures and initiatives to fight a devastating global pandemic; and to prepare for a lasting recovery.

The key message of this report is that Dubai's responses with swift and effective health measures and economic support and initiatives to tackle the COVID-19 pandemic, which protected lives and livelihoods, have succeeded paving the way for Dubai to be one of the very first cities to gradually reopen its markets and businesses fully

The report also shows that the stimulus packages that the government has put in place including lowered fees and rent reliefs that directly supported the SMEs and the business community at large are yielding results with the economic recovery gaining traction across many sectors, which is expected to continue. In addition, the government’s proactive policy initiatives such as the amendments introduced to the Commercial Companies’ Law removing restrictions on foreign ownership and FDI as well as the extension of Golden Residency visa to foreign skilled talent and top graduates, are likely to accelerate economic diversification and support higher sustainable and more inclusive growth.

Dubai welcomes 2021 with a brighter economic outlook as the pace of recovery picked up in the UAE and globally thanks to the rollout of the vaccines to combat COVID-19. Critically, it will enable a faster recovery in international travels and the mobility of people will take place which is particularly timely for Dubai to showcase its achievements to the world as it hosts Expo 2020, a global event celebrating innovation, promoting both technical and social progress and facilitating international business cooperation.