UAE's economy to grow faster than other Middle East (MENA) countries in the next 12 months due to rising employment wages

Posted on August 29, 2022   |  

• Many of the world’s big economies will be in recession in the next 12 months but UAE's economy will develop faster compared to the average growth for other countries of the MENA region.
• If the current strength of the UAE’s economy remains, the GDP growth will be around 4.3% in 2023, 4.9% in 2024, and 5.7% in 2025.
• UAE is experiencing an increase in income levels due to growing employment wages, which is strengthening the country's wholesale, retail, and real estate sectors.
• The transport, tourism, and hospitality sectors also recovered in the past, with the rise in the number of tourists and hotel occupancy rates.

Image: Alarabiya News