Dubai, a global economic powerhouse known for its impressive skyline, luxurious lifestyle and strategic business environment, has registered a commendable 3.3% rise in real gross domestic product (GDP) during the first nine months of 2023, according to a recently published article by Khaleej Times (2024).
This achievement highlights the city's economic strength, resilience and unwavering growth potential. The success can be attributed to the emirate's sustainable development strategies and its position as a dynamic leader in the global economic landscape.
HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, praised the consistent economic growth, attributing it to the visionary leadership of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice-President, Prime Minister of the UAE and Ruler of Dubai.
The strategic directives set by HH Sheikh Mohammed have laid the foundation for Dubai's sustained economic attractiveness and competitiveness on the global stage:
"Dubai's sustained economic growth is a testament to the vision and strategic directives of Sheikh Mohammed bin Rashid Al Maktoum, Vice-President, Prime Minister of the UAE and Ruler of Dubai," HH Sheikh Hamdan said.
"This success is the result of the harmonious collaboration between all of Dubai's economic stakeholders, including its public and private sectors. It is also a reflection of Dubai's favourable economic climate, robust world-class infrastructure, pro-business regulations and deep talent pool which together consistently draw in a diverse array of investors and entrepreneurs from all corners of the globe."
Favorable Economic Climate Supporting Dubai GDP Growth:
Dubai's economic climate, characterised by pro-business regulations, world-class infrastructure and a deep talent pool, has significantly contributed to its continued appeal for investors and entrepreneurs.
The city's commitment to providing a business-friendly environment enables companies to thrive and expand, further solidifying Dubai's status as a global economic hub.
Global Magnet for Investment:
Dubai's ability to consistently attract a diverse array of investors and entrepreneurs from around the world underscores its position as a global magnet for investment. The city's reputation for innovation, economic stability and a forward-thinking approach continues to draw interest from businesses seeking a dynamic and growth-oriented environment.