The UAE economy grew by 3.8% over the first nine months of 2024 with non-oil sectors driving expansion. As per official reports, the efforts to diversify the country’s economy are showing dividends, reiterating it as a center of business around the world. Good performances across trade, tourism, and the technology sector supported the upbeat tone.
The trade industry became the highest non-oil contributor with a share of 16.5% of the economy. With expanding partnerships, increased re-exports, and an energetic logistics sector, trade remains an important cornerstone of the economic vision of the UAE. Real estate, finance, and manufacturing sectors are the other significant contributors and are showing stable growth.
Investor-friendly policies and government initiatives have spurred this growth. The UAE’s emphasis on sustainable energy projects, digital transformation, and infrastructure development has drawn investors from across the world and improved economic resilience. The tourism sector also witnessed a strong recovery, as it was boosted by international events and a stream of visitors.
As the nation ahead, professionals foresee steady growth on the back of innovation and economic reforms. With non-oil sectors becoming more and more crucial, the UAE is poised to continue its positive trend and reaffirm its position as a vibrant global economy.
