Growing trade and tourism has helped Dubai become one of the top five fastest growing cities in the world, according to a survey of 300 cities by a leading American think tank.
Dubai is the fifth-highest performing metropolitan economy in the world for last year the Brookings Institution said, as an uptick in trade and tourism positively impacted the emirate’s employment and GDP per capita during the period.
The Brookings Global MetroMonitor survey ranks the economic performance of the world’s largest 300 metropolitan economies over the period, based on growth in GDP per capita and employment rates.
Dubai’s ranking for last year was boosted by a 4.5 per cent growth in GDP per capita and a 6.5 per cent increase in employment during the period. The emirate was ranked 18th in the 2013 survey.
The strength of the emirate’s economic recovery since the financial crisis is highlighted by its climb into the top five last year compared to its ranking of 167th in 2012. In 2010 it was second from bottom at 149th out of 150 cities surveyed.
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