Arab Today, arab today trade tourism spur dubai gdp growth
Last Updated : GMT 18:52:34
Arab Today, arab today
Arab Today, arab today

Trade, tourism spur Dubai GDP growth

Arab Today, arab today

Arab Today, arab today Trade, tourism spur Dubai GDP growth

Dubai - Arabstoday

Propelled by strong trade flows and rising tourist traffic, Dubai’s economy expanded by 3.4 per cent in 2011, at a pace higher than what had been forecast. Arif Obaid Al Muhairi, executive director of Dubai Statistics Centre, or DSC, said the emirate’s economy gained around Dh10 billion in 2011 to reach Dh306.2 billion as its growth picked up momentum on the back of surging trade and tourist traffic. In 2012, Dubai’s economy is on track to gain more tail winds with the number of visitors expected to rise 10 per cent this year. Shaikh Ahmad bin Saeed Al Maktoum, Chairman of the Dubai Supreme Fiscal Committee, has forecast a growth of up to five per cent for the emirate in 2012 thanks to its strategy of creating new opportunities through diversification. Most analysts had earlier estimated Dubai’s 2011 growth at around a modest three per cent. DSC figures revealed that most non-oil sectors recorded positive growth while trade remained a key growth driver as it expanded by nearly 5.8 per cent last year. The growth in gross domestic product, or GDP, was accompanied by sharp growth in the emirate’s exports, which leaped by nearly 44.3 per cent in 2011. The manufacturing sector grew at an impressive 11.7 per cent, contributing to the GDP growth by 1.5 per cent. Dubai’s transport and communications sector recorded 2.7 per cent growth while the hotels and restaurants sector increased by nearly 13.9 per cent, spurred by the growth in the number of hotels. Dubai’s 575 hotels generated revenues of Dhs16 billion last year, up 20 per cent. The year saw a five per cent increase in the number of hotel rooms and hotel apartments, which stood at 53,828 rooms and 21,015 hotel flats respectively. The International Monetary Fund pointed out that the recovery of the UAE economy was continuing despite an uncertain global economic environment. “High oil prices and increased production, strong growth in Asia, and the UAE’s perceived safe haven status in the context of the regional turmoil contributed to an estimated real GDP growth of 4.9 per cent in 2011.” The Federation of GCC Chambers of Commerce and Industry (FGCCI) predicted that the UAE’s GDP would climb to its highest level of around $385 billion in current prices in 2012 to maintain its position as the largest Arab economy after Saudi Arabia. At that level, the UAE will account for more than a fifth of the combined GDP of the GCC, forecast at around $1.46 trillion this year, its highest ever, the FGCCI said. It projected the real GCC growth in 2012 at 4.6 per cent and around seven per cent in current prices.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today trade tourism spur dubai gdp growth Arab Today, arab today trade tourism spur dubai gdp growth

 



Arab Today, arab today
Arab Today, arab today Fadi Kataya explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Messi visit will contribute in tourism

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Mental conflict endures

GMT 07:36 2017 Friday ,24 February

Mental conflict endures

GMT 21:36 2017 Wednesday ,22 February

Opec needs to prolong cuts to eliminate surplus

GMT 16:32 2017 Wednesday ,22 February

US Treasury chief tells IMF to monitor currencies

GMT 16:08 2017 Wednesday ,22 February

Qatari banks merger to rebalance financial sector

GMT 05:57 2017 Wednesday ,22 February

Britain risks clash with EU over RBS bailout

GMT 05:26 2017 Wednesday ,22 February

Singapore carbon tax would hit refiners, help renewables

GMT 05:18 2017 Wednesday ,22 February

Chinese PM: US should avoid ‘trade war,’

GMT 20:59 2017 Tuesday ,21 February

Economy good, but homes in German cities overpriced
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Wafaa Amer is happy for Sherihan’s return

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday