Dubai's Economy Poised for 5% Growth in 2024, Fueled by Infrastructure and Favorable Business Environment

UAE, 23 February, 2024 : Abdul Aziz Abdulla Al Ghurair, Chairman of Dubai Chambers, expects Dubai's economy to grow by around 5 percent this year, fueled by robust infrastructure and a favorable business environment. 

He anticipates a decline in interest rates starting mid-year, which will further support growth. Al Ghurair highlights the role of DP World's ports in facilitating trade and emphasizes the significant increase in new licenses issued by Dubai Chamber in 2023, indicating strong business growth.

Looking ahead, Al Ghurair sees continued expansion in various sectors, with a notable increase in digital companies aiming to contribute over 20 percent to Dubai's economy by 2031. He underscores the importance of past achievements in creating a conducive environment for present and future growth, projecting positive trends in foreign trade and the establishment of large companies in the emirate.

Source : https://www.wam.ae/