Many employees and businesses, throughout the world, are bracing themselves during these uncertain times. The UAE government understood the severity of the problem very early and gave proactive respond in the technologically advanced, strategic, and organized way to conduct different activities in the phased manner while keeping a good eye on the development across the globe, and care instructions by the World Health Organization (WHO) due to Covid-19 effects on business in Dubai.
After eight months of living and working in this pandemic, business conditions in Dubai have improved from three straight months even as a renewed spike in coronavirus cases poses a threat to the city’s recovery.
Here are a few data points to know -
- Employment declined at the slowest in seven months, as business expectations improved slightly
- The pace of new business was faster than in August and demand growth was at a 10-month high
- A sharp increase in new orders seen in the wholesale and retail sector; construction work experienced “a modest rise”
- The travel and tourism sector continued to decline, but at the slowest pace since February
- Expectations of further growth were largely linked to a rebound in sales as lockdown measures are lifted
Here’s a chart on Dubai covid-19 spike -
It is anticipated that recent surge in cases is raising the prospect that new restrictions may be needed to stop the contagion. The country’s central bank already anticipates that the OPEC member’s economy will shrink 5.2% this year, suffering a deeper contraction than first estimated.
When the Coronavirus pandemic hit the world at the beginning of 2020, whilst some countries were grappling to comprehend the situation, some taking a very slow laid back/denial approach, others not really knowing how to react, businesses and individuals based in the UAE felt very safe and assured as the Emirates took important steps and minimize the risk to its residents, even before WHO announced Coronavirus as a global pandemic on March 11, 2020.
There is a lot to consider for business growth in a pandemic. As the situation is evolving, and there has been great support from the Government and other organizations. So there is hope about positive development, and regaining of all business-related activities.
UAE has originated itself leader for management of tough times, and crisis due to COVID-19 effects on business in Dubai. By helping people and business development most efficiently and correctly.
We at Commitbiz can help you start a business during these uncertain times in a hassle-free manner. Do contact us today - even if it’s for a piece of friendly advice.
1. How did the UAE government handle the Covid-19 pandemic?
The government gave a technologically advanced response that was strategic and organized as it understood the severity of the problem very early.
2. What was the estimation of UAE’s Central Bank regarding the economy in 2020?
It projected a shrink of the OPEC member’s economy by 5.2%.
3. Why did the businesses and individuals based in the UAE feel safe even during the pandemic?
This was because the country took essential steps to minimize all kinds of risk factors even before the WHO announced covid as a global pandemic.
4. What changes were faced by the wholesale, retail, and construction sector of the Emirates during covid?
These sectors experienced a modest rise as there was a sharp increase in new orders.
5. Why there is the hope of positive development and regaining of all the UAE business activities post covid?
This is because as the situation is evolving, the Government and the other organizations are providing great support.