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 ...
according to the report. However, the bank expected the real GDP to moderate to 4.1 percent in 2023 as slower global demand may dampen growth due to tightening financial conditions.
In a recent report, the UAE is expected to hit an average real GDP growth rate of 3.8% between 2019 and 2023, backed by higher investment and higher consumer spending. It is also predicted that recent measures to minimize business costs in the UAE would develop more small businesses. The f...
For its part, the World Bank has projected that the real GDP of the UAE will grow by 2.8 percent in 2023, as the non-oil sector is expected to achieve strong growth of 4.8 percent, driven by robust domestic demand, particularly in tourism, real estate, construction, transportation...
Egypt’s population as of 2023.(2) 5.9% GDP growth rate Egypt’s economy grew by 5.9 percent in 2021, making it one of the fastest-growing economies in the Middle East and North Africa (MENA) region.(3) 14.43% e-commerce growth Egypt’s e-commerce sector is one of the fast...
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...
In April 2022, the government launched the Digital Economy Strategy with the aim to double the contribution of the digital economy to the UAE's gross domestic product (GDP) from 9.7% as of April 2022 to 19.4% within ten years. The strategy incorporates over 30 initiatives and programs focusin...
The professional, scientific, and technical services industry is one of the largest industries in the United Arab Emirates, accounting for 2.6% of the national GDP. The sector constitutes a range of activities, such as legal, accounting, engineering services, analytical testing, architectural, market...
The main drivers are GDP and consumer spending. Additional notes: The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice per year in case market dynamics change....