Deloitte’s chief executive has revealed his positive outlook for Dubai and the Gulf’s prospects.
Speaking to reporters, Jim Quigley said:
“If in fact the infrastructure is in place here, and I think it is uniquely in place here, if you look not only at your immediate region but all of your neighbours… then I think you have to be bullish on Dubai with a long view.”
Deloitte also predict a return of liquidity to the world’s markets and are confident of a global recovery in 2010, with Quigley revealing:
“My researchers tell me that recovery in 2010 is ‘all but certain’. I haven’t heard that kind of certainty before.”
Reporting on the sentiments of officials and companies throughout the Gulf, Robert Kimmit, chairman of Deloitte’s Cross Border Investment Centre said:
“Most are cautious about 2010 but expecting the recovery to gain some momentum in the second half and that 2011 and 2012 will be more towards historical levels of growth.”
Deloitte itself is seeking to double its current headcount of 2000 in the Middle East, a feat which Quigley sees as realistic:
“Having an ambition to see that number beyond 4000 is not a huge stretch” he commented.
Source: Arabian Business