Page 284 - MOE ENGLISH PR REPORT - SEPTEMBER 2024 (Part 2)

9/19/24, 5:06 PM UAE's GDP hits AED430 billion in Q1 2024
The restaurant and hotel sector secured the fourth spot with a 4.6 percent growth during the first quarter of
2024 compared to the corresponding period in 2023. Moreover, the UAE emerged at the forefront of the

global tourism landscape, attracting a substantial number of tourists from around the world.

In particular, Dubai witnessed a remarkable influx of 5.18 million international tourists, representing an 11
percent increase compared to the corresponding period in 2023. Abu Dhabi also maintained its exceptional
performance in key tourism indicators, including the average hotel occupancy rates and revenue per available

rooms.

Trade activities made the largest contribution to the non-oil GDP, accounting for 16.1 percent. Manufacturing
activities come in second at 14.6 percent, with financial and insurance activities ranking third at a rate of 13.4

percent.

Construction and building activities contribute 11.8 percent, followed by real estate activities with a

contribution of 7.1 percent.

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