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Dubai and Abu Dhabi Economic Growth Update 2023

Jonathan Wong

Jonathan Wong

22 January 2024

The first nine months of 2023 saw 3.3% growth in Dubai's economy, with significant gains in accommodation, food, transportation, and storage industries.

Executive Director Hadi Badri aims for Dubai to become a leading hub for foreign investment and economic innovation, with a strategic focus on diversification and market opportunities.

Sheikh Mohammed bin Rashid al-Maktoum approved a $67.1 billion government budget for 2024-2026, projecting strong public revenue and operating surplus for financial sustainability.

Abu Dhabi also experienced 2.8% real GDP growth and 8.6% non-oil activity growth, further indicating positive economic expansion on a national scale.