Dubai’s business scene ended 2024 with a solid dose of optimism, as companies across the city reported a noticeable boost in confidence. The latest numbers from the Department of Economy and Tourism tell the story: Dubai’s Business Confidence Index (BCI) jumped by nearly 15 points in the last quarter of the year — a healthy sign that firms are feeling good about where things are headed.
The index now sits at 125.5, up from 110.7 in the previous quarter. While that may sound like just another statistic, it actually reflects something much bigger — businesses are expecting stronger sales, steadier profits, and more opportunities on the horizon.
Interestingly, it’s the small and medium-sized businesses that are driving a lot of this energy. Their confidence level hit 127, slightly edging out larger companies, which came in at 124.5. That’s a clear sign that Dubai’s SME sector isn’t just surviving — it’s thriving.
Different sectors are showing different levels of enthusiasm, of course. The services industry is currently leading the pack, with a BCI of 128.5. That was followed closely by trade at 128, and industry not far behind at 122. All in all, there’s an upbeat vibe across the board.
Exporters, who often face more uncertainty due to global trends, are also feeling better about the future. Their confidence rose to 114.2, up from just under 106 in the previous quarter. That’s not a small jump — and it shows that international trade players are seeing clearer skies ahead.
But let’s talk about what actually happened on the ground. According to the survey, almost half of Dubai’s companies reported higher sales in Q4 2024. That wasn’t just luck — better marketing and rising demand played a big role. And with more business comes the need for more hands: 21% of firms said they’ve added to their workforce, a strong signal that this isn’t just optimism — it’s action.
Looking ahead, most companies are betting on price stability in early 2025. Around 70% expect no major changes in their pricing, though a quarter are bracing for potential increases, mostly due to inflation and cost pressures.
As for hiring? Three out of four businesses plan to keep their current teams intact, while one in five are preparing to hire more. If that holds true, we could see even more job opportunities opening up in the months ahead.
The BCI is calculated based on expectations for key business metrics — from sales and pricing to hiring and profits. For this latest report, Dubai’s economy team surveyed over 500 companies across various sectors, offering a well-rounded snapshot of the city’s business climate.
If one thing’s clear, it’s this: businesses in Dubai aren’t just optimistic — they’re preparing for growth.
