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UAE's economy set for 4.4% growth in 2024, fueled by diverse government initiatives

UAE's economy set for 4.4% growth in 2024, fueled by diverse government initiatives

Posted on October 16, 2023   |  

In 2024, the UAE's economy is set to grow by 4.4%, primarily due to the government's diversification efforts.

The government is actively working to boost growth and diversify the economy, making the UAE more appealing for investment and businesses.

Initiatives like visa programs, full foreign ownership, and new trade agreements are in line with the "We are the Emirates 2031" vision. 

Dubai's "D33" Economic Agenda emphasizes growth, foreign investment, and trade, while Abu Dhabi aims to double its manufacturing sector by 2030. 

Diversification strategies have contributed to a 4.2% growth in non-oil GDP this year.

The UAE has seen a 40% increase in international visitors this year, largely attributed to the UAE's National Tourism Strategy, with its low tax rates and exemptions for various entities, the UAE aims to foster a business-friendly environment.



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