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DUBAI: increasing importance of the digital economy.

Dubai's expanding economy is expected to continue to grow in the coming years, driven by a number of factors, including:

Diversification away from oil: Dubai has been investing heavily in diversifying its economy away from oil, and this is paying off. The non-oil sector now accounts for over 90% of the emirate's GDP. This diversification has made Dubai's economy more resilient to shocks in the oil market.

Strong tourism sector: Dubai is a popular tourist destination, and the tourism sector is expected to continue to grow in the coming years. The emirate is also investing in new tourism attractions, such as the Dubai Expo 2020 site. This investment is helping to attract more tourists to Dubai and boost the emirate's economy.

Favorable business environment: Dubai has a favorable business environment, with low taxes and bureaucratic red tape. This is attracting businesses from all over the world to set up shop in the emirate. Dubai is also a global hub for trade and logistics, which makes it an attractive place for businesses to operate from.

Government investment: The Dubai government is investing heavily in infrastructure and other projects to support the economy. This investment is creating jobs and stimulating growth. The government is also investing in new technologies and industries, such as artificial intelligence, fintech, and renewable energy. This investment is helping to create a more diversified and resilient economy.

In addition to the factors mentioned above, Dubai is also benefiting from a number of trends, such as the growth of the global middle class and the increasing importance of the digital economy. The global middle class is expected to grow significantly in the coming years, and Dubai is well-positioned to attract tourists and businesses from this growing segment of the population. The digital economy is also growing rapidly, and Dubai is investing in new technologies to position itself as a leader in this space.

Overall, the outlook for Dubai's economy is positive. The emirate has a number of factors in its favor, including a favorable business environment, strong government investment, and a diversified economy. Dubai is also benefiting from a number of trends, such as the growth of the global middle class and the increasing importance of the digital economy. As a result, it is likely that Dubai's economy will continue to expand in the coming years.