By Staff Reporter
Dubai’s GDP Growth Hits 3.3% in Q2 2024
Dubai’s economy demonstrated strong growth in the second quarter of 2024, with a 3.3% year-on-year increase, raising the GDP to AED116 billion.
H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, attributed this performance to the visionary leadership of H.H. Sheikh Mohammed bin Rashid Al Maktoum, aligning with the objectives of the Dubai Economic Agenda D33 and the Dubai 2033 Plan.
Sheikh Hamdan emphasized that the emirate’s growth underscores Dubai’s ambition to be a global economic hub.
“Dubai today is more than a success story; it is an inspiring model for progress,”
he stated.
Key sectors, such as transportation and storage, information and communication, and accommodation and food services, played a pivotal role. The transportation and storage sector saw a 7.8% growth, with a total value of AED15.85 billion, driven by increased demand in air transport. The accommodation and food sector grew by 4.7%, bolstered by a 9% rise in international visitors, totaling 9.3 million in H1 2024.
Helal Saeed Almarri, Director General of Dubai’s Department of Economy and Tourism, credited the leadership’s strategic focus on sectors like logistics, technology, and tourism for sustaining Dubai’s economic momentum. Meanwhile, Hamad Obaid Al Mansoori, Director General of Digital Dubai, noted that digital transformation is enhancing service efficiency and quality of life, aligning with Dubai’s status as a future-focused city.
Other sectors, including manufacturing, real estate, and finance, reported robust gains, collectively reinforcing Dubai’s diversified economic base. As Dubai forges ahead with innovation and strategic development, its commitment to a sustainable, inclusive, and digitally powered economy remains resolute.
News Source: Emirates News Agency
