UAE economy to grow >5% this year, S&P says
Dubai’s hospitality, wholesale, retail, and financial services sectors are expected to drive growth
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Dubai’s hospitality, wholesale, retail, and financial services sectors are expected to drive growth
The upgrade comes on the back of a stronger rebound in oil activity and export growth.
Transport, storage, and hospitality were among the largest growing sectors
The country ranked third in most competitive economy worldwide
The country is expected to reverse the decline seen in 2023
Oxford Economics expects GDP to grow to by 4.8%
The projections are more bullish than the World Bank’s
GDP is weighed down by lower oil output and a global economic slowdown
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