Corona's impact 70 % of Dubai's companies could close within six months

May Sat 2020 08:01:46

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Corona's impact 70 % of Dubai's companies could close within six months

According to a survey by the Dubai Chamber of Commerce, about 70 percent of Dubai's business could be shut down in the next six months due to the corona virus epidemic.

 According to more than 90 per cent of companies in Dubai, their business and profits have fallen sharply in the first three months of 2020, according to the survey.

According to the Dubai Chamber of Commerce, small and medium enterprises have been hit the hardest by the global economic slowdown caused by the epidemic.

According to most of the companies involved in the tourism sector, more than half of the real estate companies, hotel and restaurant owners and those associated with the retail industry, their work has dropped by 70 per cent and the results for the second three months will be even worse.

According to 48 percent of the companies surveyed, they have no plans to get rid of the epidemic.