Sheikh Hamdan: Aiming for Sustained Success and a Culture of Excellence in Dubai
Dubai’s economy has shown a significant growth of 3.2% in the first quarter of this year compared to the same period last year, with the emirate’s GDP reaching Dh115 billion.
Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE, and Chairman of The Executive Council of Dubai, stated that Dubai’s ambition is limitless, and its success story continues to serve as a role model for other cities aspiring to create a promising future for their generations.
“Our goal is to sustain success and establish a culture of excellence and leadership across all sectors in the emirate,” Sheikh Hamdan emphasized.
This economic growth in the first quarter mirrors the success story of 2023, when Dubai’s GDP reached approximately Dh429 billion, marking a 3.3% increase from the 2022 figure of Dh415 billion.
Dubai is experiencing a boom across various sectors, including transportation, storage, food services, and real estate. Key sector contributions to the GDP are as follows:
- Transportation and Storage: 5.6%, Dh15.4 billion
- Financial and Insurance Activities: 5.6%, Dh15.1 billion
- Wholesale and Retail Trade: 3%, Dh26.3 billion (22.9% of GDP)
- Information and Communications: 3.9%, Dh5.1 billion
- Accommodation and Food Services: 3.8%, Dh4.7 billion
- Real Estate: 3.7%, Dh8.4 billion
- Utilities and Waste Management: 7.5%, Dh3.2 billion
- Manufacturing: 1.6%, Dh8.4 billion
- Other Activities: 0.46% (including agriculture, mining, construction, professional services, and administrative services)
Sheikh Hamdan highlighted that these achievements underscore the collaborative efforts and teamwork of various stakeholders to achieve the goals of Dubai’s comprehensive development plans for 2033, particularly the Dubai Economic Agenda (D33) and Dubai Social Agenda 2033.
“Dubai is advancing with a clear vision laid down by Sheikh Mohammed bin Rashid Al Maktoum,” the Crown Prince said. “What we witness today is a practical reflection of this vision, positioning Dubai among the leading economic and commercial centers globally.”
