According to experts, there are several areas that will witness growth in the UAE. These trends are likely to be critical to the growth of the nation's burgeoning economy and will also help to cement the region’s image as a premier global vacation destination.
UAE’s food and beverage industry is likely to undergo some changes for the better; involving public and private partnerships, feel commentators. Though currently, the nation's food needs are largely met with the help of imports, in times to come, there will be greater emphasis on sustainable farming, aqua culture, crop diversity and urban farming initiatives.
With the huge but largely untapped potential of harnessing solar energy in a sunny region such as the UAE, investment in solar energy was just waiting to happen. Two of the world's largest solar projects were approved in 2017. There was a 23 fold increase in investment in nonpolluting, sustainable sources.
Experts from Cooper Fitch have predicted certain hiring trends and possible salary hikes for the year. The introduction of VAT will likely fuel job creation and hiring is likely to be healthy in strategy and consulting segments. In the financial world, the demand for accountants will remain constant. The Cooper Fitch report predicts a 10% hike in hiring in the digital marketing sector.
Because of higher oil prices and enhanced business activity in the region, infrastructure spending in the UAE is likely to continue experiencing the currently visible spurt. Tourism infrastructure is also set to see a significant jump with entities such as GCC capital investments expected to invest in the region $56 billion over the next few years. Large infrastructure, energy, health and education projects are also in the pipeline.
It is also likely that UAE will witness new and innovative means of transport in times to come. Futuristic transport projects involving hyperloop technology may soon be a reality. Futuristic looking air taxis may also be a reality in the near future. According to reports the Roads and Transport Authority (RTA) will begin trial operation of a manned air taxi later this year. This electric powered aerial transport device would carry two people and can fly for up to 30 minutes.
With the development of the Dubai Blockchain Strategy by the Crown Prince of Dubai Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, this technology has never been more mainstream in the UAE. The last year having been such an exciting one for crypto-currency overall, there is likely to be an increase in private sector interest in this technology.
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