Browsing: UAE

The Meetings, Incentives, Conferences, and Exhibitions (MICE) industry itslef in the UAE is expected to grow at 8.5% during the 2023-30

Attracted by better wages, the Emirates has witnessed an influx of professionals and workers from Asia, the US, Europe and the Middle East

The Central Bank of the United Arab Emirates (CBUAE) saw its balance sheet soar to touch AED734.61 billion at the end of January 2024, marking a significant surge in its financial strength. This impressive growth is revealed in the bank’s latest balance sheet report.

Small and medium Enterprise (SME) sectors in the UAE have moved from a stage of resilience to prosperity after the Covid-19 pandemic, with two out of three expressing a positive view of the future business environment in the country, according to RAKBank SME Confidence Index.

The UAE capital’s GDP reached AED1.14 trillion ($310 billion) in 2023, according to The Statistics Centre – Abu Dhabi. 

The UAE Central Bank has projected a 5.2 per cent GDP growth forecast for 2025 but revised down projection for 2024.

About 178,000 new jobs – direct, indirect and induced – will be created in the next six years, boosting the contributions of Abu Dhabi’s tourism sector to the economy, according to the Abu Dhabi Tourism Strategy 2030.

The insurance sector comprised 23 traditional national companies, 10 Takaful national and 27 foreign companies

Dubai’s population continued to increase in the first quarter of 2024 as more and more foreign workers and investors flocked to the emirate.

The Central Bank noted that the UAE’s consolidated fiscal balance for the first nine months of 2023 posted a surplus of AED61 billion, equivalent to 4.4 percent of GDP