Published on : Thursday, January 13, 2022
Dubai’s business conditions witnessed better times last month, before the Omicron variant started to spread, since easing travel restrictions and the Expo 2020 exhibition helped boost the city’s principal tourism industry.
Dubai’s business scenario also witnessed the highest level since June 2019. Employment also soared in one of the strongest expansions since the start of the pandemic.
Still, businesses continued to combat higher costs, with input price inflation accelerating to the highest since March. Uncertainty about the pandemic, as the Omicron variant started to gain foothold late last month, meant that firms are less optimistic about 2022, with just around 12% confident of growth this year.
Before the Omicron strain emerged, the United Arab Emirates had managed to keep cases restricted for the most of 2021. Infections in the country, of which Dubai is a part, crossed 2,000 for the first time in six months in December.