As we progress into 2024, the UAE’s economic outlook is highly promising. According to the World Bank’s Global Economic Prospects report, the UAE is set to experience robust real GDP growth, with projections indicating a 3.9% increase in 2024 and a rise to 4.1% in 2025². This growth is driven by active diversication from oil dependency, probusiness reforms, and a strategic focus on technology and innovation, positioning the UAE as a regional leader attracting high-tech industries and startups.

Economic growth in the UAE is broad-based, led by robust activity in tourism, construction, manufacturing, and nancial services. Foreign demand for real estate and the UAE’s safe haven status are driving rapid growth in housing prices and rents,
contributing to ample domestic liquidity. Hydrocarbon GDP growth is expected to rise with higher crude oil production. Despite geopolitical tensions and recent ooding, the UAE’s real GDP is projected to grow to approximately USD 527.8 billion in 2024, with average ination expected to remain around 2%.