The visionary Rulers of the country deserve commendation for the promising economy.

Inayat-ur-Rahman, Business Editor

The UAE’s potential for growth in 2022 is tremendous. As it enters in the Expo 2020-dominated new year, the country and its people can look back with immense pride at the milestones that made 2021 a momentous year.  The able and visionary Rulers of the country are to be thanked for such a promising and vision-oriented economy. Industry heavyweights and business analysts share their candid views about the UAE’s economic growth in the New Year with Gulf Today.

Ayman Ashor, Cluster General Manager, Al Bandar Rotana and Arjaan by Rotana: I wish to express my gratitude to the leadership and people of UAE on the occasion of New Year. It has been a great and challenging 2021. We are looking forward to ringing in 2022 with optimism and that it brings prosperity throughout the year.

“To make the festive season unforgettable, Al Bandar Rotana offers the most glamorous settings, extravagant menus, dazzling entertainment and exquisite service. “This new year’ eve Treat yourself to a 5-course set menu while swaying with your beloved ones on the rhymes of live Dj music & Violinist. Enjoy the most mesmerizing view of Burj Khalifa and Dubai Skyline fireworks from Gusto Italian Restaurants and also tasty food and celebrations at Salt & Pepper restaurant.”

Abdulla Alabdulla, Chief Operating Officer, Central Hotels Group, said:  We would like to send our warmest greetings and congratulations to the leadership of the UAE and its government as we enter a thriving and promising 2022. The year 2021 was full of challenges which were tackled through the leaders’ visions and resilience which has kept the UAE one of the most sought-after destinations in the world, more so, solidifying the country’s commitment to health and safety for global travelers and businesses. The UAE is continually attracting foreigners and residents alike for its zero taxes, weather, open border policies, and high levels of vaccination. Recent changes to the work week have been designed to attract more foreign businesses and expats, including the ultrarich – which now call the UAE home and hub. The introduction of the ‘Projects of the 50’ which covers several key sectors such as: economy, entrepreneurship, advanced skills, digital economy, space and advanced technologies seeks to make the UAE an ideal destination for talents and investors. We have witnessed exceptional achievements and look forward to making the UAE the world’s home from now and the next 50 years.

 “We forecast substantial economic growth and a reinforced market for the UAE in both trade and tourism by 2022. This comes as a result from the country’s swift and successful vaccination program,  the introduction of multiple visa options such as the new Dubai five-year multiple entry visas for international companies residing in the emirate, retirement visa, and the 5-year tourist visa.”

“The UAE’s economic diversification efforts continue to thrive from oil sectors as well as media, telecom, tourism, manufacturing and commercial aviation. Based on our hotel’s market mix, there has also been a rising influx of entrepreneurs that have moved to Dubai and chosen it home during the past year. We are optimistic that this trend will follow through to 2022.”

“Multiple sources such as ICAEW and the Global Entrepreneurship and Development Institute have forecasted that the UAE economy will grow between 4% to 6.5% in 2022.”

“We see firm reassurance & optimism that the UAE will reach these figures especially highlighting the Emirates’ emergence as a hub for international business paired with it’s labour law reforms which promote productivity, protection to workers, and flexible work as well as the announcement of ‘The Projects of the 50’ which aim to accelerate the UAE’s economic development and transformation.”

Rizwan Sajan,  Chairman and Founder Danube Group,  said: Take a leap of faith and begin this wondrous new year by believing.

“I hope and wish happiness and abundance to all in the coming year, the market sentiment seems upbeat and due to Expo 2020 we are seeing a surge in the overall economy in the region thanks to the resilient leaders of our nation.

Abhay Pandey, Founder MAST Consulting Group, said:  “My congratulations to the leaders on a year of many firsts, global recognitions, and the epoch-making Expo. Notwithstanding the pandemic impact, the UAE has made significant strides in improving its ease of doing business, the result of which will be more pronounced in 2022. At MAST Consulting, we anticipate greater integration of people, processes and technology, across business and industry, driven primarily by governmental push. In 2022, the onus is also on the private sector and people to support the leaders as they execute the action plan towards the Next 50. We at MAST wish everyone in the UAE a happy, healthy, and prosperous new year.”

Sajid Azmi,  CEO, Yegertek “The year 2022 will see the retail industry change its stance from cautious optimism to accelerated growth. According to a Kearney survey, The UAE is 14th globally in retail spending — which represents a massive market potential. Today, with digital transformation revolutionizing functions across the retail value chain, we could see greater efficiencies in how services are delivered to customers. That said, consumer spending is directly linked to pandemic management, vaccination rates, and methodical reopening. This is where I believe the leaders have outdone themselves. Their resolve, coupled with strategic thinking, has even made a safe World Expo possible despite unprecedented challenges. My kudos to them, and best wishes to everyone in the UAE for 2022.”

Imran Farooq, CEO, Samana Group, stated:  Despite the almost miraculous development of effective vaccines against Covid-19 in 2020, the virus continued to spread and mutate throughout the 2021. The UAE overcame, performed well and the results started showing up. Real estate market thrived, tourism revived and hotels occupancy is full. That means all related business are benefitting.

Looking at the success of Expo 2020 Dubai – the mother of global events - and the revival of Dubai real estate market and other industries, I can say with conviction that the year 2022 will be a promising year for every business. Our real estate business at Samana Developers achieved greater success and we started looking at international expansions.

We at Samana Group always supported the initiatives of the local government and followed the new guidelines from the Rulers.

I, on behalf of Samana Group, wish a very happy New Year to everyone!