Dubai stable now but gains will be harder in future
One year ago Dubai was rated number one in a survey of financial centres most likely to gain in importance in the future. It was ranked number 22 in the present.
It was also the top priority future destination for companies considering setting up new regional offices in the City of London and the Z Yen Group survey.
A year on the same survey ranks Shanghai, Beijing and Shenzhen more likely to gain importance, with Dubai now in fourth. It was also rated the locale fourth most affected by the global downturn.
Dubai also fell to fifth place in the list of most desired future office locations.
It has, however, recorded a rise in the overall rankings as compared to a year ago. After falling to 23rd overall in the last survey, six months ago, it is now up to 21st.
Overall all then, encouraging news for Dubai although it seems the current trend, understandably, is a move towards the emerging powerhouses of the east, with China looking particularly threatening.
The next Global Financial Centres Index survey, due six months from now, should make for interesting reading.
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Do you think the survey that you have mentioned will also reflect the positive outcome for Dubai's jobs market conditions? I would like to think on the same direction but much has to be observed in the next months to come. Don't you think?