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In a striking display of economic prowess, Dubai has recorded a significant 3.3% surge in its real gross domestic product (GDP) during the first nine months of 2023, Wego reports. This growth reflects the city’s commitment to sustainable development and robust economic diversification, aligning with the ambitious objectives of the Dubai Economic Agenda D33. The agenda, launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE, and Ruler of Dubai, positions the city as a global economic powerhouse.
Dubai continues its economic surge, with its GDP growing by 3.3% in the first nine months of 2023. The latest growth figures show that Dubai is progressing steadily towards achieving the goal of the Dubai Economy Agenda D33, launched by @HHShkMohd, to transform itself into one of… pic.twitter.com/r6IFFnPyhP
— Hamdan bin Mohammed (@HamdanMohammed) January 21, 2024
Dubai’s ascent is a beacon of innovation and resilience, promising further milestones in the upcoming year due to the strategic vision of its leadership and the collaborative efforts of government teams and international business partners.
The city’s tourism sector has emerged as a standout performer, contributing significantly to the overall GDP surge. Accommodation and food services activities, a vital component of the tourism industry, experienced an impressive 11.1% growth. This growth solidifies Dubai’s position as a premier global tourism destination. The value added by these activities soared from AED 10 billion in the first nine months of 2022 to AED 11.1 billion in the same period of 2023, reflecting a 3.4% contribution to GDP.
Dubai’s unwavering focus on becoming a global hub for events, conferences, and tourist attractions has propelled this sector’s remarkable growth. The city’s exceptional tourism strengths continue to captivate visitors, enhancing its reputation as a destination of choice for travelers worldwide.
