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Non-oil GDP grew at a 5.9% clip during the first nine months of 2023, Vice President and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum said during cabinet’s first meeting of the year on Friday at Qasr Al Watan, Wam reports.
The breakdown: Transport and storage sectors saw the highest rate of growth at 12.1% y-o-y mainly due to high footfall in the country’s airports. Accommodation and food services secured the second spot in growth at 11.6% y-o-y, fueled by a rise in travelers visiting the UAE’s tourist destinations and events.
An “exceptional” year in the books: “The year 2023 was exceptional, under the leadership of my brother Sheikh Mohamed bin Zayed, along with his deputies and brothers. It was a year during which the UAE witnessed unprecedented economic growth, massive global political presence, scientific advancement, new educational and healthcare developments. The year 2024 will be a new opportunity to achieve further development achievements with greater momentum in all sectors,” Sheikh Mohammed bin Rashid Al Maktoum said.
