CategoriesIndustry News
Dubai’s economy grows 3.2% in the first half of 2023.
The World Bank has predicted that the UAE’s Gross Domestic Product (GDP) will grow by 2.8% by the end of this year, 2023. The non-oil sector is expected to achieve strong growth of 4.8% due to the strength of local demand, particularly in the tourism, real estate, construction, transportation, and manufacturing sectors.
Dubai’s economy expanded an annual 3.2 per cent in the first half of 2023 to reach Dh223.8 billion ($60.9 billion), driven by 3.6 per cent growth in the second quarter of the year and solidifying the emirate’s position as a global economic hub.