With a GDP of Dhs339.4 billion in the first nine months of 2024, up 3.1% from the same period in 2023, Dubai’s economy continued its robust upward growth trajectory. The spike demonstrates notable advancements in several important areas. The largest trading sector in terms of value, wholesale and retail, grew by 2.9% to reach Dhs83.12 billion in the first three quarters of 2024.
While the banking and insurance activities sector expanded by 4.5% to reach Dhs39.439 billion, the transportation and storage industry had an exceptional 5.3% growth to reach Dhs42.135 billion. Among other important industries, the information and communications sector expanded by 4.1%, and the lodging and food services sector increased.
The emirate has made great strides in a variety of fields, including bellwether industries like logistics, technology, and tourism, thanks to the visionary leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, and the directives of Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, Minister of Defence, and Chairman of The Executive Council of Dubai. Logistics has cemented Dubai’s position as a worldwide commerce hub, technology is propelling unmatched innovation, and tourism is still setting world standards, all of which contribute to our success.
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