As per the survey of a leading American think tank which included 300 cities, Dubai is on the top five to become one of the top five fastest growing cities in the world. The growth is largely due to developing tourism and trade.
The Brookings Global Metro Monitor 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.
As per records of last year the Brooklyn Institution said Dubai is the fifth greatest performing metropolitan economy in the world, beyond question a surge in tourism and trade has positively influenced the GDP per capita and emirates employment
Dubai’s Ranking for 2014 was upsurged by a 4.5 percent growth in its GDP per capita and a 6.5 per cent rise in the employment rate. The emirate received 18th position ranking in the 2013 survey.
The same ranking was in 167th place in 2012 and out of 150 cities surveyed in 2010 Dubai was at 149th place. The growth of Dubai’s economic recovery from the financial crisis can significantly be noticed by its climb to top 5 as compared to the ranking in the latter years.
As per Brooklyn the metropolitan areas with focus in tourism and trade has merited from consistent growth in global flows of people and goods.
As per Brooklings research analyst Joseph Parilla: the economic growth of several region remain uneven.
Parilla added: There is huge difference in separate cities such as Peru, Central china from those in northeast and Colombia from those in Argentina and Brazil. Developing markets are moving forward faster. The developed economies such as Western Europe, North America and London are growing at an alarming rate but the others like Montreal and Rotterdam are struggling.
According to Brooklyn: An example of this is in the Middle Eat the ranking of Abu Dhabi is 137, this is due to low per cent in the increase in GDP per capita during 2013 to 2014 along with a 20.1 percent increase in employment for the same period.
The report for 2012 ranked Abu Dhabi 110th. In 2010 it ranked 43rd.
“Of course the main reason for the slow-down in Abu Dhabi’s GDP per capita growth is the drop in oil prices, given that the oil sector accounts for 55 per cent of the emirate’s economy,” said Alp Eke, senior economist at NBAD.
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