The FINANCIAL — Mother-of pearl dashboards and diamond-encrusted hood ornaments at the Dubai International Motor Show last week underlined how the safe-haven status of the UAE is fuelling dramatic growth in sales of luxury cars.
This year's Arab Spring boosted sales in the UAE. Companies and individuals from around the region looked for a safe haven in Dubai.With Brent oil prices above $100 a barrel, promising continued economic growth for the UAE, a debt crisis in Europe and financial stormclouds in the US have also largely failed to deter wealthy consumers. The UAE economy is expected by analysts to grow about 3.8 per cent this year.
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