Page 33 - MOE ENGLISH PR REPORT - JANUARY 2024

Press Release

of 2023, the growth in hotel revenues to AED 32.2 billion between January and September 2023, up
27 per cent compared to the same period in 2022. The UAE achieved the highest number in its history

for FDI inflows totaling AED 84 billion Dirhams (23 billion USD).

Furthermore, H.E. Bin Touq emphasized the UAE’s key role in promoting sustainable economic

development at the global scale, and expansion into new economic sectors, pointing out the country’s

economic fundamentals and its role in promoting the growth of world trade. The UAE is directly
connected to 400+ cities across the world and boasts numerous shipping lines that extend to 88 global

ports, providing an ideal economic environment to establish and grow businesses.

Strong participation from UAE private sector

There was strong participation from the UAE private sector at the World Economic Forum (Davos
2024), where officials from major UAE companies and private enterprises represented about 80 per

cent of the country’s delegation at the forum. It provided an opportunity for national companies to
exchange experiences and knowledge, drive development, and build international partnerships in

various areas. This is the third-largest international participation in Davos and the country’s biggest
participation so far in the forum.

A global platform to address various economic challenges at the regional and global stages

The Davos Forum is a global platform dedicated to addressing economic challenges at the regional
and global stages, and the UAE remains keen to participate in it to strengthen its role and contribution

to supporting international efforts aimed at resolving these issues. At the forum, the UAE highlights
its vision and strategy to achieve sustainable development goals and promote comprehensive

economic development both regionally and globally.

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