One of the most common questions asked by Dubai residents is whether or not Dubai will be affected by recession.
What is a recession?
A recession refers to a period of time when an economy contracts or slows down. It can last for months or years and often has negative consequences on jobs and incomes.
How could a recession affect Dubai?
Dubai's main industries are tourism and trade, so if there were to be an economic downturn then this would have a knock-on effect on those sectors too.
What can we do about it?
There are several things that can be done to mitigate any potential problems that maarise from an economic downturn in Dubai including: diversifying the economy, investing in education and training in finance .
Dubai needs to worry about its real estate sector as it accounts for more than half of total government revenue, which means that any slowdown in this area will have a serious effect on the country as a whole.
What is a recession?
A recession refers to a period of time when an economy contracts or slows down. It can last for months or years and often has negative consequences on jobs and incomes.
How could a recession affect Dubai?
Dubai's main industries are tourism and trade, so if there were to be an economic downturn then this would have a knock-on effect on those sectors too.
What can we do about it?
There are several things that can be done to mitigate any potential problems that maarise from an economic downturn in Dubai including: diversifying the economy, investing in education and training in finance .
Dubai needs to worry about its real estate sector as it accounts for more than half of total government revenue, which means that any slowdown in this area will have a serious effect on the country as a whole.
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