A 3.2% growth in Dubai’s economy in H1 2023

On October 15th, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Crown Prince of Dubai and the Chairman of the Dubai Executive Council, posted a tweet about the strong performance of Dubai’s economy. The economy has achieved a tremendous growth of 3.2% in H1 2023 as compared to H1 2022, with the value now reaching a total of AED 223.8B (USD 61B).

According to Sheikh Hamdan, the economic expansion goes hand-in-hand with the target of the Dubai Economic Agenda, D33. This strategy involves doubling the city’s GDP over the next 10 years and making Dubai one of the top 3 economies worldwide.

The economy’s growth is being fuelled by major successes in such sectors as real estate, information and communication, manufacturing, transportation, finance and insurance, accommodation and food services, as well as others. These sectors accounted for about 93.9% of the increase in growth.

Helal Saeed Almarri, Director General of Dubai’s Department of Economy and Tourism, stated that the acceleration of projects under the D33 plan will help create an efficient economic ecosystem and enhance the global appeal of Dubai for investing and living.

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