Dubai economy grows by 3.2% in Q1 2024

Dubai: Dubai’s economy grew by 3.2 per cent in the first quarter of 2024, raising the emirate’s GDP to Dh115 billion and maintaining its steady trajectory of economic performance and growth.

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, announced the emirate's economic numbers for Q1 2024 on his official X account.

Sheikh Hamdan stated that this performance reflects the success of Dubai’s strategy in achieving the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, to establish Dubai as a leading global economic and commercial hub.

“In the first quarter of 2024, Dubai's economy grew by 3.2 per cent, increasing the emirate's GDP to Dh115 billion. This performance underscores the success of Dubai's strategy to achieve the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum. We remain committed to achieving the goals of the Dubai Economic Agenda D33, which aims to double the size of our economy and position Dubai among the world’s top three urban economies,” Sheikh Hamdan said.