Economic

Growth

  • Tourism:

    • Daily visitors expected to grow by 53%

  • Land Requirements:

    • Aligning with Dubai's Vision, using existing land for sustainable growth and planning for future industries

    Population Growth

  • Projected Population:

    • 5.8 million by 2040 (from 3.3 million in 2021)

  • Residential Population:

    • 75% increase to 5.8 million

  • Working Population:

    • 4.9 million workers in high-tech sectors

    Source: Government of Dubai

    Dubai Economic

    Agenda D33

    Dubai's ambitious D33 Agenda, unveiled on January 4, 2023 by Sheikh Mohammed, aims to transform Dubai into a global economic powerhouse through sustainable growth, innovation, and strategic development.

    The D33 Agenda aims to double Dubai's GDP by 2033 through investments in human capital, technology, and infrastructure, creating a thriving business environment for innovation.

    Key aspects of the D33 Agenda include:

  • Economic Diversification:

    • Expanding beyond traditional sectors to explore new industries and markets.

  • Sustainable Development:

    • Prioritizing environmental sustainability and resource efficiency.

  • Digital Transformation:

    • Embracing emerging technologies to drive economic growth and improve quality of life.

  • Global Competitiveness:

    • Enhancing Dubai's position as a leading international business hub.

    Source: Government of Dubai

    Vision

    2040 Dubai

    Dubai's Green Vision for 2040 (2040 Agenda)

    Dubai has set an ambitious goal to double its population from 3.5 Million to 5.8 Million by 2040. To support this
    growth, the city plans to significantly expand its green and recreational spaces.

    Key aspects of the D33 Agenda include:

  • Nature Preservation:

    • 60% of Dubai's total area will be dedicated to nature reserves and rural natural areas.

  • Green Connectivity:

    • Green Corridors will be established to connect service areas, residential zones, and workplaces,
    promoting pedestrian, bicycle, and sustainable transportation.

  • Tourism & Commercial Expansion:

    • Land for hotels and tourist activities will increase by 134%, while commercial land will expand to 168 square kilometers.

  • Education & Healthcare Growth:

    • Education and healthcare facilities will see a 25% increase in land area.

  • Coastal Development:

    • Public beaches will be extended by 400%.
    Plan aims to create a sustainable, environmentally friendly. and vibrant city for Dubai's growing population.

    Source: Government of Dubai

    Five Pillars of the

    UAE Economy in 2024

    The economy of Dubai's Gross Domestic Product (GDP) of the calendar year 2023 as of January 2024 is AED 429 billion ($USD 116.8 billion).

  • Tourism:

    • Strong recoverywith DubaiAirport returning to pre-pandemic traffic levels, increased
    hotel capacity, and high occupancy rates.

  • Real Estate:

    • Surge in property transactions,values, and prices,with Dubai remaining relatively
    affordable compared to other major global cities.

  • Population Growth:

    • Significant increase due to effective pandemic management, the UAE GoldenVisa,
    and tax incentives, driving demand for high-end properties and boosting consumption.

  • Non-Oil GDP:

    • Diversified economywith 72% of GDP from non-oil sectors, high business activity, and
    leading global rankings in luxury home sales.

  • Fiscal Strength:

    • Robust government spending, budget surpluses, low debt-to-GDP ratio, and substantial
    externalreserves supporting economic stability.

    Source: Government of Dubai