11 Jan 2022
Tourism Spurs Economic Growth in Dubai amid Omicron Concerns
The Index Today
Dubai’s economy has been flourishing due to Expo 2020 and relaxed travel policies in the midst of the COVID-19 pandemic, even as the threat of the Omicron continues to loom.
IHS Markit’s Purchasing Managers’ Index for Dubai revealed a spike in December to 55.3 from 54.5 in November, 2021, which is a record high since June, 2019.
However, companies are still faced with the issues of an Omicron surge with price input inflation reaching the highest since March, 2021, leaving them skeptical about the commercial growth in 2022.
Prior to the current spike in cases, the country had been successful in controlling the spread of COVID-19 for the better part of 2021 when a surge occurred in December with cases rising above the 2,000-mark.