Dubai must build up finance and tourism: analysts

DUBAI: Dubai remains a regional hub for finance and tourism but must build up those sectors to replace the construction industry, as the emirate’s economic growth grinds to a halt amid the global economic crisis, analysts said.

Fears have mushroomed about the viability of the Gulf city state’s economy after revelations that its main state-run company, Dubai World, is struggling to meet debt repayment deadlines, spurring panic over a possible financial collapse.