OPEC Reports Strong Growth in UAE's Non-Oil Sector for 2024

UAE, 11 September, 2024 : OPEC’s September 2024 Monthly Oil Market Report highlighted the UAE's robust non-oil sector performance. Dubai’s tourism sector saw 10.62 million international visitors from January to July, an 8% rise compared to 2023.

The UAE continues to attract foreign investors and skilled professionals by allowing 100% foreign ownership of onshore companies, reducing business setup costs, and reforming visa and job security laws.

The report also noted a rise in the S&P Global UAE PMI to 54.2 in August, reflecting growth in new orders driven by increased consumer and business spending. Hiring in the non-oil sector also continued, though at a slower pace.

Source : www.wam.ae