The second-largest economy in the Middle East according to the World Bank, the UAE has become a global model for economic development and judicious management of natural resources. The Bank has cited recent liberalisation of foreign ownership of local companies as one of several upsides to the country’s economic outlook.
The country’s high income levels and hot climate make it a major market for heating, ventilations, and air conditioning (HVAC). Demand for HVAC will grow by 4.4% a year in 2002-2027, according to market research company EMR, driven construction sector activity.
This story is from the February 17, 2023 edition of Newsweek Europe.
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This story is from the February 17, 2023 edition of Newsweek Europe.
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