Dubai-Mubasher: The global rating agency Fitch has upgraded its outlook for Dubai’s gross domestic product (GDP) after the emirate was officially chosen to host Expo 2020.
The agency expected Dubai’s GDP to rise by 4.3% year-on-year until 2017 compared to its previous forecast of 4.1%, according to a recent report of Business Monitor International, a subsidiary of the rating agency.
The emirate is likely to generate nearly $23 billion revenues from the exhibition over the next 10 years, which will boost its growth opportunities, the report stated.
Dubai’s GDP reaches $130 billion and offers 1.3 million job opportunities.
According to the report, the emirate is likely to maintain its pivotal role in enhancing the national economy over the next years, outperforming the combined 4.3% growth forecasts of GCC states until 2017.
