Credit Suisse monitored a remarkable rise in the shares listed in the Dubai market since the beginning of this year, and expected that it would lead to an improvement in the performance of companies ’shares in the main sectors of the Dubai economy, especially the tourism sector, which would boost the recovery of these sectors.
Fahad Iqbal, head of research in the Middle East and North Africa region, made a televised statement to Bloomberg in Dubai, commenting on the performance of Dubai shares since the beginning of 2021.
Iqbal stated that Dubai shares have risen by about 2.2% since the beginning of the year, and that indicators of market recovery have begun to appear during the recent period, and carry with them the possibility of recovery in some key sectors of the emirate’s economy, which have been affected by the economic repercussions resulting from the outbreak of “Covid 19”.
He explained that hopes for the recovery of these sectors, most notably the tourism sector, have also been strengthened as a result of the speedy implementation of the pandemic vaccination program, which the Dubai government has been adopting for some time.
Fahad Iqbal said: “We see that the sectors that are in focus in the Middle East are the sectors on which the recovery really depends, and they are the seasonal sectors. And if we talk about Dubai, it is far ahead of the rest in terms of these kinds of opportunities. Therefore, we certainly look to Dubai to continue its upward trend.