UAE’s economic expansion rises over 3% in early 2024

Posted on September 16, 2024   |  

The UAE’s economy grew by 3.4% year-on-year in early 2024, reaching $117.1 billion (Dhs430 billion).

Non-oil GDP rose 4% in the same period, reflecting the UAE's shift towards a more diverse economy.

Growth came from key sectors like tourism, technology, and financial services, supported by investments and marketing.

The tourism sector benefited from improved infrastructure and attracted more international visitors.

Technology saw increased investment and innovation, boosting both domestic and global interest.

Financial services expanded due to more lending, higher investment, and growth in fintech.

The UAE’s efforts to reduce oil reliance have led to major investments in other sectors.

Despite global economic issues, the UAE’s policies and favorable business environment have maintained economic growth and stability.