Page 209 - MOE ENGLISH PR REPORT - DECEMBER 2024

1/2/25, 5:42 PM UAE’s economy expands by 3.6% in H1 2024, driven by non-oil growth

Hanan Mansour Ahli, Managing Director of the Federal Competitiveness and Statistics Centre

(FCSC), said, “By leveraging its capabilities, the UAE aims to strengthen its economic standing on
both regional and global levels as one of the most dynamic and diversified economies, driven by

forward-thinking strategies and sustainable diversification plans.”

Other key growth sectors
Information and communication activities ranked fourth, achieving a growth rate of 5.3 per cent.

The restaurants and hotels sector secured the fifth spot, achieving 5.1 per cent growth in the first

half of 2024, fueled by exceptional tourism activity nationwide. Hotel revenues exceeded Dh24.6

billion during this period, registering a 7 per cent increase, while the total number of hotel guests

across the UAE’s seven emirates reached around 15.3 million, representing a 10.5 per cent growth.

Key contributors to non-oil GDP

Trade activities contributed the largest share to the UAE’s non-oil GDP, 16.5 per cent, followed by

manufacturing at 15 per cent. Financial and insurance activities took third place with a 12.5 per cent
contribution, while construction accounted for 11.6 per cent. Real estate activities ranked fifth,

contributing 7.6 per cent.

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