Dubai is world’s 5th fastest growing city economy: Report

9 years ago | Posted in: Business | 828 Views

Dubai has been ranked among the top 10 cities that are powering economic growth within their nations, according to a report by the Brookings Institution.

The report by the leading American think tank has ranked Dubai fifth worldwide for 2014, up from 18th position in the previous year.

The report said Dubai’s growth was boosted by a 4.7 per cent annual rise in employment.

The emirate also recorded the fastest growth relative to its national economy with a 4.5 per cent rise in gross domestic product, or GDP, per capita, versus 1.6 per cent growth for the UAE as a whole.

Overall, the report found that economic activity and growth in 2014 remained disproportionately concentrated in the world’s major metropolitan areas.

The 300 largest metropolitan economies housed 20 per cent of both the world’s population and its employment.

The report found that developing metropolitan economies were growing much faster than their more developed peers… see more

source: khaleejtimes

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