Page 354 - MOE ENGLISH PR REPORT - SEPTEMBER 2024 (Part 2)

9/19/24, 11:59 AM UAE announces 3.4% GDP growth in Q1 2024 - Arabian Business: Latest News on the Middle East, Real Estate, Finance, and More
“Under the guidance of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, and
the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President,

Prime Minister and Ruler of Dubai, the country adopted an innovative economic model
that supports its future vision, along with effective national economic strategies, enhancing

openness to the world, promoting partnerships, and transitioning towards an economic
model based on flexibility and innovation,” Abdulla bin Touq Al Marri, Minister of Economy,

said.

Financial and insurance activities led the non-oil economic sectors with a 7.9 percent
growth, followed by transportation and storage at 7.3 percent, and construction and

building activities at 6.2 percent.

The growth in financial activities was attributed to a significant increase in local credit
granted to the private sector.

Dubai tourism numbers up 11% in early 2024

The transportation sector benefited from a 14.7 percent rise in traveller numbers at UAE

airports, reaching 36.5 million in the first three months of the year.

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