The Dubai Expat Diaries

A report by Swiss Bank UBS estimates that the population in Dubai will decline 8 per cent this year.

According to this research, Dubai’s real sector which has slowed down significantly, employs about half the city’s workforce. It predicts up to 20 per cent of workers in this sector will lose their jobs in 2009 and 10 per cent in 2009, which will cause Dubai’s population to fall by 8 per cent and 2 per cent in 2009 and 2010 respectively.

It started in November with the developer Nakheel laying off 500 people. Since then several companies have started making their employess redundant. The number is 3,200 people so far according to Gulf News.

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