‘Expo effect’ to support faster growth in the UAE – The National

‘Expo effect’ to support faster growth in the UAE – The National

The UAE economy is set for a faster growth in the final quarter of 2021 after a relatively slow start to the year.

The relaxation of travel restrictions in key tourism markets, including the UK and Saudi Arabia, is supporting a recovery in the travel and hospitality sectors in the UAE – and Expo 2020 Dubai has already contributed to an improvement in business conditions in October.

The UAE Purchasing Managers' Index, a composite indicator designed to give an overview of operating conditions in the non-oil private sector, rose to the highest level in more than two years in October as businesses reported strong growth in activity and new work, which many attributed to the start of Expo 2020. Businesses were also more optimistic about their future output than they have been since the start of the pandemic last year.