In the first nine months of 2024, Dubai's economy continued to demonstrate sustainable growth, with GDP increasing by 3.1% compared to the same period in 2023, reaching a mark of 339.4 billion dirhams. Among the key sectors, the largest growth was shown by the information and communication sectors (4.1%), life and hospitality services (3.7%), and also manufacturing (2.3%).
"Dubai demonstrated exceptional economic performance in the first nine months of 2024, reflecting sustainability and a drive towards innovative growth, as well as the strategic fulfillment of the emirate's ambitious D33 economic program," noted Khalid Almarri, General Director of the Dubai Department of Economy and Tourism.
The transport and logistics sector saw a growth of 5.3%, reaching a mark of 42.135 billion dirhams, accounting for 11.6% of Dubai's total GDP. It became the largest contributor to overall growth, supported by partnerships between the public and private sectors.
The retail and wholesale trade sector achieved 83.12 billion dirhams and was also highlighted as a major contributor to the emirate's economy. The D33 program aims to increase the economic productivity of the emirate through digital solutions.
Similarly, data revealed the growth of the food processing sector and public catering, manufacturing, as well as the finance and insurance sector. The latter showed a growth of 4.5% and contributed 12.4% to the overall GDP, demonstrating quality transformations through modern technologies and global trends.
New data on Dubai's economic growth in 2024 not only confirms an important stage in the growth and development of the emirate but also opens the door for further successes. The growth is driven by increased demand for services from national carriers and a targeted strategy of local authorities for the development of key sectors of the economy.
