In early 2024, Dubai's population kept growing as more foreigners came to work and invest in the city. The population increased faster than last year during the same time.
Data from the Dubai Statistics Centre revealed that from January to March 2024, the population rose by 25,776 to reach 3,680,785. This growth was slightly higher than the increase of 25,489 seen during the same period last year. The popularity of new residency programs like the golden and silver visas attracted many wealthy individuals from around the world to settle in the UAE.
The rise in population has led to increased demand for rental properties and consumer goods in 2024. The UAE Central Bank predicts inflation to reach 2.5%, although still below the global average. However, the influx of foreign workers is expected to slow down after a significant increase over the past three years.
According to the Dubai Statistics Centre, the population has grown by 269,300 since January 2021, averaging 6,900 new residents per month. The Central Bank anticipates subdued inflation due to reduced migration inflows, slower non-oil output growth, and inertia from the previous year. Despite this, Dubai and the UAE are expected to continue attracting more foreign companies, leading to further population growth and job opportunities in the coming years.
News Source: Khaleej Times
