Economy in Dubai continues to grow. As far as the numbers are concerned, it is expected to grow 2.1% in 2019, and over 3.8% in 2020. This is a wonderful growth story as this is a time when many international economies are shrinking or they are static, there is an increase in diversification of businesses as well as foreign investment has been on a strong growth trajectory.
Dubai is often called as country onto itself. It is a constituent member of the federation of United Arab Emirates and has emerged as one of the wealthiest destinations. There is a continuous influx of international business giants into the region and it has been a resounding success in nurturing its reputation as a centre of business opportunity.
Dubai Wholesale City has been set up and planned with an of AED 30 billion. It was set-up in a bid to service key global traders. This new global hub consists of specialized integrated trading parks that are well-equipped to meet all the requirements of wholesale traders under one roof. Apart from this, it has also been providing an international trade facility.
The key drivers of the wholesale and retail industry in Dubai have been its growing young population. There has been an increase in spending capacity, shopping tourism, and well, EXPO 2020. The city boasts of world-class logistics and trade infrastructure facilities and they have made the city an ideal hub for wholesale and retail trade operations.