Dubai's economy is recovering from the effects of the Corona epidemic. Over the last ten years, the real estate business in Dubai has grown exponentially.
In October, business activities other than oil were recorded at a two-year high.The Dubai market has been open to the world for months.
"Expo Dubai 2020 is signaling an improvement in the economic situation," Emirates Allium quoted Bloomberg's report on Dubai's economy as saying.
"The health system in Dubai is excellent," the report said. Arrangements to avoid the Corona virus delta variant wave have been effective.
The report says that "European countries are experiencing a rise in the number of victims of Corona and their governments are resorting to tougher sanctions, while the situation is different in Dubai where the economy is recovering faster than expected".
The real estate business in Dubai has not grown as much as it does now in the last ten years. Traffic jams on Dubai's roads are unusual, and empty taxis are hard to come by.
Not only the residents of the state are arriving in large numbers to see Expo Dubai but also tourists from other countries are coming to enjoy Expo Dubai to get rid of the restricted environment.On the other hand, the new wave of epidemics has caused unrest in Australia and several European countries.
The UAE is still safe from a new wave of Corona epidemics. Ninety percent of the population is vaccinated, while booster doses are being given to those who are more susceptible to the virus.
"Dubai's hotels were up 82 percent in October, up 60 percent from a year earlier," Bloomberg reported.
"House rents have risen sharply this year compared to 2015. The volume of houses acquired has increased by 77% this year as compared to August last year. This is an increase of 56% over 2019.
