Dubai Sees A Rise In Business Confidence

  • Publish date: Sunday، 11 July 2021
Dubai Sees A Rise In Business Confidence
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According to a new survey by Dubai Chamber, Dubai’s business environment is expected to see positive momentum in the Q3 of this year.

The survey also found that SMEs, in particular, were more optimistic about Dubai’s economy in the short term compared to large companies, while debt collection, late payments, strong competition in prices, and the high cost of raw materials were identified as key challenges and risks.

66% of respondents said they expect to see better business conditions during the quarter, compared to 51% who said the same in the previous quarter.

Around 57% of business leaders said they expect a recovery in oil prices to positively affect the business environment in the third quarter, while 62% said global restrictions on trade and travel would be a risk impacting business conditions in the emirate.

"The findings demonstrate Dubai’s success in minimising the impact of the COVID-19 pandemic through a series of policies, initiatives, and measures that have ensured a favourable business environment and addressed new challenges created by the pandemic," said Hamad Buamim, President & CEO of Dubai Chamber.