Dubai 'GDP growth'.
'GDP growth' in Dubai.
2. Pre-pandemic growth Currency :- Before the COVID-19 pandemic, Dubai's economy had been growing steadily, with an average annual growth rate of 3.8% between 2014 and 2019.
3. Tourism sector :- The tourism sector is a major contributor to Dubai's GDP, accounting for around 11% of the city's economic output. In 2019, Dubai welcomed more than 16 million tourists, who spent a total of AED 86.2 billion (roughly USD 23.4 billion).
4. Trade and logistics sector :- Dubai's strategic location and world-class infrastructure have made it a regional hub for trade and logistics. The sector contributes around 26% of Dubai's GDP, with a total value of AED 392 billion (roughly USD 106.5 billion) in 2019.
5. Real estate sector :- The real estate sector is another major contributor to Dubai's economy, accounting for around 7% of the city's GDP. In 2019, the sector generated AED 22.2 billion (roughly USD 6 billion) in revenue.
6. Future growth :- Despite the impact of the COVID-19 pandemic on Dubai's economy, the government has announced several initiatives aimed at supporting growth in key sectors such as tourism, trade, and logistics. These initiatives include the Dubai Tourism Strategy 2025, which aims to attract 25 million visitors per year by 2025, and the Dubai Industrial Strategy 2030, which aims to create a diversified and sustainable economy.
Overall, Dubai's GDP growth has been driven by its strong tourism, trade, and logistics sectors, and the government's focus on diversification and sustainability is expected to drive future growth. However, like most economies, its growth has been affected by the COVID-19 pandemic, and a continued recovery is a top priority for the country.
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