Dubai’s economic momentum continues to impress, with the emirate's GDP surpassing AED 115 billion in the first quarter of 2024, reflecting a 3.2% growth compared to the same period last year.
Several key sectors played a significant role in driving this growth. The transportation and storage sector, as well as the financial and insurance industries, emerged as top performers, recording growth rates of 5.6%. The trade sector also experienced solid expansion, growing by 3%. Meanwhile, the information and communications sector saw a 3.9% increase, accommodation and food services rose by 3.8%, and the real estate sector contributed to the gains with a 3.7% growth.
With the Dubai Economic Agenda D33 serving as a roadmap for future growth, the emirate remains well on track to achieve its bold economic ambitions and further cement its status as one of the world’s leading economic centres.
These strong first-quarter results are in line with the growth trajectory seen in 2023, when Dubai's GDP reached approximately AED 429 billion, a 3.3% rise from the previous year’s AED 415 billion. The robust performance across multiple sectors continues to reinforce Dubai's position as a global economic powerhouse With the Dubai Economic Agenda D33 serving as a roadmap for future growth, the emirate remains well on track to achieve its bold economic ambitions and further cement its status as one of the world’s leading economic centres.
With the Dubai Economic Agenda D33 serving as a roadmap for future growth, the emirate remains well on track to achieve its bold economic ambitions and further cement its status as one of the world’s leading economic centres.