Dubai’s economy continues to defy global headwinds. In the first nine months of 2024, Dubai recorded a GDP of AED 339.4 billion, marking a 3.1% year-on-year growth — a testament to the emirate’s strategic vision, resilience, and economic diversification, guided by the Dubai Economic Agenda D33.
Let’s break down the sectors driving this impressive performance:
📦 Wholesale & Retail Trade
- Output: AED 83.12B
- Growth: 2.9%
- GDP Share: 24.5%
- Contribution to Growth: 22.6%
As Dubai’s largest economic pillar, this sector continues to deliver steady momentum, powered by strong consumer and trade activity.
✈️ Transport & Storage
- Output: AED 42.14B
- Growth: 5.3%
- GDP Share: 12.4%
- Contribution to Growth: 20.8%
Fueled by booming international flights and logistics demand, this sector saw its fastest growth—aviation leading the charge.
💰 Finance & Insurance
- Output: AED 39.44B
- Growth: 4.5%
- GDP Share: 11.6%
- Contribution to Growth: 16.6%
A magnet for both local and international capital, this high-value sector reinforces Dubai’s status as a global financial hub.
🌐 Information & Communications Technology (ICT)
- Output: AED 15.86B
- Growth: 4.1%
- GDP Share: 4.7%
- Contribution to Growth: 6%
The momentum of Dubai’s digital economy continues, accelerated by the “Digital Dubai” initiative.
🏨 Accommodation & Food Services
- Output: AED 11.54B
- Growth: 3.7%
- GDP Share: 3.4%
- Contribution to Growth: 4.1%
Dubai’s popularity as a global tourism hotspot keeps demand high in hospitality and F&B.
🏭 Manufacturing & Real Estate
- Manufacturing: AED 28.34B (Growth: 2.3%)
- Real Estate: AED 27.29B (Growth: 3.6%)
These traditional sectors remain stable contributors amid evolving market dynamics.
🔌 Utilities & Waste Management
- Output: AED 11.20B
- Growth: 2.9%
- Supporting Dubai’s green, sustainable infrastructure goals.
🏗️ Other Sectors at a Glance
- Construction: Growth of 2.2%, contributing 4.6%
- Other sectors: Average growth of 1.2%
💡 What This Means for Businesses
Dubai’s consistent performance, policy clarity, and forward-thinking economic reforms make it one of the most attractive global hubs for investment, expansion, and innovation.
🚀 Now is the time to set up a business in Dubai or relocate your company to the UAE.
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