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Dubai’s growth continues



Country:  Dubai, United Arab Emirates

7 November 2008

The Global Financial Centres Index (GFCI) recently announced Dubai as the financial centre most likely to gain in importance in the next few years. The emirate was also destination of choice where organisations responded they would be most likely to open offices in the next few years. The research conducted in association with Z/Yen Ltd, is the first to report on a new biannual index of competitiveness for 46 world financial centres.

 Ian Scott, director of the UK and Ireland representative office of Dubai Tourism and Commerce Marketing says; “Dubai’s growing popularity in the financial sector can be attributed to a number of initiatives which have instilled a sense of confidence in global investors. We are constantly delivering more sophisticated services and in response there has been a pleasing influx of big banks moving operations out to the emirate.”

Dubai has established its reputation as a rising star of the global financial landscape. The continuing diversification away from oil and gas has paved the way for an environment which is growing in attractiveness for financial service providers. New industries are the prime focus of the emirate’s fast expanding economy and financial services and capital markets were earmarked in Sheikh Mohammed’s 2015 Dubai Strategic Plan as the core element to sustaining this growth.

 
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