Today: 1 August 2025
23 June 2024
2 mins read

CBUAE projects UAE’s GDP growth to reach 6.2%

Boosting its status as a global travel and tourism hub, Dubai approved an ambitious AED128 billion project for a new passenger terminal at Al Maktoum International Airport…reports Asian Lite News

The real estate, tourism and hospitality sector, and transportation sectors collectively represent around 30 per cent of the non-oil GDP, the report highlighted.

The number of residential real estate sales transactions in Abu Dhabi in January-April 2024 was estimated to have increased by 7.7 per cent YoY. Growth was mostly driven by the sales of ready units, which increased by 24.9 per cent YoY, while off-plan sales increased marginally by 0.8 per cent YoY.

Data for Q1 2024 indicated that Dubai sustained its role as a top international tourism hub. The emirate’s hotel occupancy rates stood at 83 per cent, equal to the previous year’s figures, while the average duration of stay per visitor was almost unchanged at 3.9 nights, yet there was a 2 per cent YoY increase in the total occupied room nights, totalling 11.2 nights.

Furthermore, Dubai recorded an 11 per cent rise in tourist arrivals in the first three months of 2024 compared to the same period last year, taking advantage of the revival of worldwide travel demand. During this period, the emirate welcomed 5.2 million international overnight visitors, an increase from 4.7 million tourists in the first quarter of the previous year.

Zayed International Airport welcomed over 6.8 million passengers in the first quarter of 2024, taking advantage of the top-tier facilities and services at its newly opened terminal in Abu Dhabi. This emphasises Abu Dhabi’s status as a major transportation hub, with a 36 per cent increase in passenger numbers compared to the first quarter of 2023.

Dubai International Airport had an exceptional start in 2024, recording its busiest quarter ever, which highlights its importance as a global aviation hub and a major contributor to Dubai’s economy. During the first quarter, there was a remarkable increase in passenger traffic, with 23 million travellers passing through its facilities. This represents an 8.4 per cent rise compared to the same period last year, emphasising its strong connection to key global markets and its role in strengthening Dubai’s status as a prime destination for both tourism and business.

Boosting its status as a global travel and tourism hub, Dubai approved an ambitious AED128 billion project for a new passenger terminal at Al Maktoum International Airport. This expansion will increase the size of Dubai’s main international airport five times, to become the largest in the world by size and capacity, capable of handling up to 260 million passengers annually. (ANI/WAM)

ALSO READ-UAE Finance Ministry launches new transformational projects

Previous Story

Ghazouani urges West African states to rally against extremism

Next Story

UAE contributes to FAO efforts in Sudan

Latest from -Top News

IBPC Dubai charts new growth path

Former Tata Motors CEO Ravi Kant headlines exclusive event as Indian business council sets course for transformation….reports Asian Lite News The Indian Business & Professional Council (IBPC) Dubai has signalled a significant

Miles in the Malls!

Dubai Mallathon kicks off today – The emirate’s biggest malls transform into indoor fitness arenas, inviting residents to walk, run, and win — all while staying cool, healthy, and community-connected….reports Asian Lite

Famine grips Gaza, WHO warns

WHO said Gaza’s population is facing acute food insecurity under the Integrated Food Security Phase Classification…reports Asian Lite News The World Health Organisation (WHO) has issued its starkest warning yet about the

Lifeline from UAE to Gaza

UAE’s Operation Chivalrous Knight 3 sustains Gaza’s collapsing health system with hospitals, treatment, aid, and vaccines, offering vital relief to thousands amid deepening crisis….reports Asian Lite News The United Arab Emirates has

Modi, MBZ talk big ties

The call reaffirmed their keenness to “strengthen relations in line with their shared vision to leverage opportunities and deepen strategic cooperation.”…reports Asian Lite News In a significant diplomatic engagement, Prime Minister Narendra
Go toTop

Don't Miss

UAE congratulates new Israeli PM Naftali Bennett

Naftali Bennett, the head of a small ultranationalist party, was

3 Emirati armed forces members killed in Somalia

Authorities initially said three Emirati officers were killed and two