COVID-19: Seventy Per Cent of Companies in Dubai Expected to Shut Down Permanently

According to the results of a survey carried out by the Dubai Chamber of Commerce (DCC) in late April 2020, 70% of companies in Dubai, United Arab Emirates (UAE) are expected to go out of business within the next six months due to the impacts of COVID-19. The survey sample included 1,288 Chief Executive Officers from diverse industries, out of which almost 75% of those surveyed comprised small businesses with less than 20 employees.

Feedback from the survey showed that 27% of respondents were expecting to close their businesses within the next month, whilst 43% expected to quit business within six months. Over two-thirds of respondents felt that the risk of going out of business over the next six months was moderate-to-h...