The Gulf is almost synonymous with oil wealth. However, the region is not complacent and seeks to diversify away from the liquid gold. One of their priorities is the digital economy. Last year, the UAE announced its ambitious goal to double the contribution of the sector to its GDP, increas...
The CBUAE Releases Financial Stability Report 2023: UAE Banking Sector Showcases Resilience with Strong Capital Buffers and Favourable Liquidity Conditions GDP Payment CBUAE UAE time: 2024-09-27 13:00:00 views: 20904 Per UAE Cabinet Decision: The National Anti-Money Laundering and Combating ...
UAE's GDP grew by 3.4% in 2023, down from a 7.6% growth in 2022. Growth is expected to be around 3.7% in 2024. Beyond Dubai While attention often focuses on the country’s megacities, lesser-known emirates such as Sharjah offer cultural riches, manufacturing bases and a more affordable ...
programme that will expand the geographical reach of businesses using the UAE's world-class infrastructure and strategic location as a global logistics hub to re-export goods across the world. The re-export sector in the UAE contributes 6.6% to the UAE's GDP, creating approximately 1.3 million...
Second, the exported products have not yet met the demand of high-end markets.The per capita GDP of the UAE in 2022 was USD 47,700 (IMF), and the level of economic development is above the average level seen in Europea...
A key goal of the roadmap is to substantially reduce reliance on hydrocarbons, with a target of achieving 64% of GDP from non-hydrocarbons sectors by 2030. ThChapter The Report: Abu Dhabi 2023: Trade & Investment OBG plus Abu Dhabi’s commitment to diversification and improving its business...
The logistics sector accounts for 14% of the UAE’s GDP as of 2024, supported by projects such as the USD 3.5 billion Al Mafraq-Al Ghuwaifat road project, which is improving connectivity across the region. Dubai South, home to the future world’s largest airport, Al Maktoum International,...
It issued USD8.7 billion worth of green bonds in 2023, equivalent to 1.7 per cent of its GDP and 3 per cent of overall fixed income issuance. Singapore, for its part, can be said to have set the Asean agenda for sustainable finance. The country’s Green Finance Industry Taskforce, ...
The tourism sector, which accounts for about 16 per cent of the GDP, continued its strong performance, with the number of visitors to Dubai increasing by 19 per cent year-on-year to stand at 8.5m. Growth prospects in the UAE’s non-oil GDP may continue to build momentum, supported by ...
In 2023, overall real GDP is estimated to grow by 3.9% in the UAE. Specifically, Dubai’s real estate sector is currently in a unique position driven by widespread economic diversification, recent initiatives boosting the growth of foreign investments, new residence and...