Given the impactful changes taking place on both a national and international scale, it is important to find links of certainty and focal points to stem positivity in the unforeseen future. Every nation aims to evolve and come out stable if not stronger positioned from uncalled for circumstances. As for Dubai’s stance at present, while it makes its way through COVID-19 and, in the future, when all is said and done, is something to look forward to. Dubai has come out victorious in the past & will continue to do so in the upcoming years.
Following are a few key points observed from past events and current circumstances that shed a positive light on Dubai’s future positioning:
The Digital Transformation
The Digital world has taken over the reins due to social distancing and UAE having made it its mission to be in the forefront of the Digital Economy plans to support national digital start-ups and establish a global platform to attract investors.
The Support System
Dubai's elite have set examples through generous donations towards the health organization. The humble donations by Dubai's well-known businessmen indicates the support system that has been established within the country.
UAE's fundamental strength of its federal economy and infrastructure gives the nation capability to recover quickly from an unforeseen financial crisis.
Following the aftermath of the 2008 Financial crisis, the UAE Government and the Central Bank had acted quickly to secure the financial system through liquidity support to banks, deposit guarantee and recapitalization of banks. This is a prime example showing the UAE is capable to wither a potential financial crisis if one may arise.
Loyalty, Faith, Trust
The Foreign Investment Office report of the Dubai Economic Department in 2010 depicted a good overall investor confidence in Dubai. This is a positive indicator of where the investor confidence was in Dubai even during a financial crisis that had a global impact.