Dubai's GDP Grows 3.1% to AED 339.4 Billion in 2024, Driven by Key Sectors

Shahba Mayyeri -

Dubai’s economy maintained strong momentum in 2024, with GDP rising 3.1% in the first nine months to AED 339.4 billion. This growth highlights the strength of key sectors, including wholesale trade, transportation, and finance.

  • Wholesale & Retail Trade: The largest contributor, generating AED 83.12 billion (+2.9%).
  • Transportation & Storage: Grew 5.3% to AED 42.14 billion, with air transport playing a major role.
  • Financial & Insurance Services: Expanded 4.5% to AED 39.44 billion, reinforcing economic resilience.

Other sectors also posted solid gains:

  • Information & Communications: +4.1%
  • Accommodation & Food Services: +3.7%
  • Manufacturing: +2.3%
  • Real Estate: +3.6%
  • Construction: +2.2%

Helal Saeed Almarri, Director-General of the Dubai Department of Economy and Tourism, attributed the success to Dubai's innovation-driven strategy under the Dubai Economic Agenda D33. He emphasized that the city's strategic vision and investments in technology and sustainability were key to its economic growth.

Hamad Obaid Al Mansoori, Director-General of Digital Dubai, highlighted Dubai’s ability to integrate digital technologies into its economic model, fostering a dynamic business environment. With the D33 agenda, the city aims to double its economy by 2033, strengthening its position as a global business hub.

Dubai's consistent economic growth reflects its commitment to sustainability, innovation, and global competitiveness.

News Source: Emirates News Agency