DUBAI: Travel and tourism sectors showed the strongest economic performance in March, says Emirates NBD Dubai Economy Tracker survey. Private sector companies in Dubai showed robust expansion of business activity during March, with the rate of growth the fastest for four months, according to the survey by Emirates NBD.
“Anecdotal evidence suggested that more favourable economic conditions, the launch of new projects and a recovery in clients’ willingness to spend had all contributed to the rebound in overall business activity,” said the report. Emirates NBD head of Mena research Khatija Haque said the survey for March suggests that after a slow and uncertain start to 2016, activity appears to have picked up at the end of first quarter.
“Output and new order growth across key sectors were solid in March and firms were more optimistic about prospects for the coming year,” said Haque. Input prices were broadly stable across the private sector in March, while travel and tourism companies signalled a reduction in their average cost burdens.
