Dubai ranks 5 globally in economic performance

08:13 AM | 23 Jan, 2015
Dubai ranks 5 globally in economic performance
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ISLAMABAD (APP) - Dubai ranked number five in performance among 300 world cities in the annual 2014 economic rankings of cities worldwide, released by Brookings Institution and JPMorgan Chase.

Macau, the Chinese, outperformed the rest of the world's major cities economically last year, while four Turkish cities ranked among the top ten, Khaleej Times reported. Abu Dhabi and four other GCC cities also figured in the list.

While Macau recorded a gross domestic product, or GDP, growth of eight per cent and employment growth of 4.2 per cent, Dubai posted 4.5 per cent GDP growth and 4.7 per cent employment growth.

Cities in the developing world, especially of China, dominated the top of the annual economic rankings. Four Turkish cities made the top 10: Izmir, Istanbul, Bursa and Ankara.