Dubai’s expo spurs tourism, boosting UAE business activity
Published 03 Nov,2021 via Bloomberg News Service (Global Editions) – Business activity in the United Arab Emirates rose to the highest level in more than two years last month, helped in part by an influx of tourists drawn to Dubai’s Expo 2020 event.
A Purchasing Managers’ Index compiled by IHS Markit rose to 55.7 in October from 53.3 in September, above the 50-mark separating growth from contraction and signaling a significant expansion in the Gulf country’s non-oil private sector. The increase was driven by faster increase in output and new orders.
“The Expo 2020 finally began in the UAE at the start of October and brought a highly welcome upsurge in growth across the non-oil private sector,” said David Owen, economist at IHS Markit. “The key test for the UAE economy will be whether this initial uplift in demand from the Expo can be sustained over the coming months.”
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