UAE Fintech Sector Powers Growth, Contributes 8.7% to GDP

UAE, 27 February, 2025 : Abdullah bin Touq Al Marri, UAE Minister of Economy, announced that the financial technology (Fintech) sector now contributes 8.7% to the country’s GDP, with plans to increase this to 12% by 2031.

Speaking at Investopia 2025 in Abu Dhabi, he highlighted Fintech as a key driver of sustainable growth and economic diversification.

He also emphasized the UAE’s commitment to fostering new economy sectors, particularly the space industry, by attracting investments and expanding the number of companies in this strategic field.

The Minister noted that agricultural innovation is another promising sector, aligned with the UAE’s food security strategy, which focuses on investment and technology localization to position the country as a global food export hub.

In 2024, the UAE issued 200,000 new business licenses, bringing the total number of active businesses to over 1.1 million. The ministry aims to further expand this figure in the coming years.