Macroeconomic Outlook Report: United Arab Emirates

Macroeconomic Outlook Report: United Arab Emirates

Summary

Mining, manufacturing, and utilities contributed 44.2% to the gross value added (GVA) in 2023, followed by financial intermediation, real estate and business activities (21.4%), and wholesale, retail, and hotels (13.4%). In nominal terms, the three sectors are forecast to grow by 5.3%, 5.6%, and 4.4%, respectively, in 2024.

The Emirates of Abu Dhabi, Dubai, and Sharjah were among the best performing regions in the UAE in 2023, according to GlobalData cities database.

DFMGI exhibited a volatile trend over past year. As of May 7, 2024, the index stood at 4,152.1, compared to 3,583.1 on May 7, 2023.

Scope

• As of April 2024, Abu Dhabi's Department of Culture and Tourism plans to invest over $10 billion in infrastructure by 2030, aiming to increase hotel rooms from 34,000 to 52,000 to support the emirate's tourism strategy.

Reasons to Buy

• Macroeconomic Outlook Report identifies the potentials of the country as an investment destination by analyzing the political, economic, social, technological, legal and environmental (PESTLE) structure.
• PESTLE Insights provides 360 degree view of the economy which can be used as a strategic tool to understand the market dynamics, business potentials and direction of operations
• Along with providing the country’s snapshot, the report captures the risk factors pertaining to the macroeconomic risks, political environment, legal environment, demographic and social structure effectiveness, technology & infrastructure and natural and geographic aspects that might impact business.
• This report also highlights key clusters/cities which contribute significantly to the country GDP and population along with major companies’ presence in these areas.