Dubai’s economy maintained its steady growth, recording a 3.1% increase in Gross Domestic Product (GDP) in the first nine months of 2024 compared to the same period in 2023. The emirate’s GDP reached Dh339.4 billion, driven by strong performances across key sectors.
According to a WAM report, the wholesale and retail trade sector, the largest contributor to Dubai’s economy, grew by 2.9% to Dh83.12 billion. Meanwhile, the transportation and storage sector saw a notable 5.3% increase, reaching Dh42.14 billion. The financial and insurance sector expanded by 4.5%, contributing Dh39.44 billion to the economy.
Other sectors also posted solid gains, with information and communications growing by 4.1%, accommodation and food services rising by 3.7%, and manufacturing increasing by 2.3%. The real estate sector saw a 3.6% rise to Dh27.29 billion, while construction grew by 2.2%.
Dubai’s Department of Economy and Tourism (DET) highlighted the emirate’s resilience and commitment to innovation-driven growth. Helal Saeed Almarri, Director-General of DET, credited the leadership’s vision for Dubai’s economic momentum, emphasizing the emirate’s role as a global trade hub, a center for technology, and a top tourist destination.
Officials also underscored Dubai’s strategic focus on sustainability and digital transformation under the Dubai Economic Agenda D33, which aims to double the economy by 2033. The continued expansion of key industries and strong investor confidence position Dubai as a leading global business hub.
