The Business Climate Index for Q1 2024 is off the charts, soaring to 168 points from 144 last year. If you’re a biz owner in Dubai, you’re feeling more optimistic than a cat with a new scratching post. With 507 CEOs and big shots spillin’ the beans, it’s clear as day that the City of Gold is shinin’ brighter than ever.
So, what’s the 411 on this survey, you ask? Well, 63% of the hustlers expect the business scene to be on fleek in the next three months. And get this: 60% think their sales will go up, while a cool 29% reckon they’ll stay steady.
Dubai Chambers President and CEO, His Excellency Mohammad Ali Rashed Lootah, dropped some truth bombs: keep the growth train chugging in every sector, and Dubai’s biz vibe will stay lit. Word on the street is that the private sector’s got mad respect for Dubai’s ability to keep the cash flowing.
But that’s not all, folks. Some 41% of bosses have big plans to flex in new markets this quarter, with the GCC countries leading the pack. Sales savvy is key, with 57% looking to branch out with new products or services, and 47% eyeing upping production.
When it comes to the digits, 44% are splurging on digital ads, and 42% are hustling for extra funds. Cutting costs is also top of mind: 43% want a cheaper deal with suppliers, and 41% are in the market for a more affordable office.
The tech game is strong too, with 38% already getting down with digital in Q4 2023. Why? To slide into new markets (52%), save some cash (49%), and stay ahead of the game (44%). Look out for some 12% going full AI and 24% pushing digital payments in Q1 2024.
