Connect with us

Announcements

Dubai’s Economy Surges: GDP Hits Dh115 Billion in Q1 2024 with 3.2% Growth

Published

on

Dubai’s economy has grown 3.2 per cent in the first quarter of the year compared to the same period last year — with the emirate’s gross domestic product (GDP) reaching Dh115 billion.

“Dubai’s ambition is limitless, and its success story will remain a role model for cities wishing to create a promising future for their coming generations,” said Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE, and Chairman of The Executive Council of Dubai.

The goal, he said, is to “sustain success and establish a culture of excellence and leadership” across all sectors in the emirate. The economic growth in the first quarter of the year mirrors the success story of 2023, when the GDP reached approximately Dh429 billion, marking an increase of 3.3 per cent compared to the 2022 figure of approximately Dh415 billion.

Numbers show that Dubai is booming across sectors — from transportation and storage to food services and real estate.

Here’s how each sector has grown in the first quarter of the year:

  • -Transportation and storage sector: 5.6%, amounting to Dh15.4 billion
  • -Financial and insurance activities sector: 5.6%, amounting to Dh15.1 billion
  • -Wholesale and retail trade sector: 3%, amounting to Dh26.3 billion (the top GDP contributor at 22.9%)
  • -Information and communications sector: 3.9%, amounting to Dh5.1 billion
  • -Accommodation and food services activities sector: 3.8%, amounting to Dh4.7 billion
  • -Real estate sector: 3.7%, amounting to Dh8.4 billion
  • -Utilities and waste management: 7.5%. amounting to Dh3.2 billion
  • -Manufacturing sector: 1.6%, Dh8.4 billion
  • -Other activities: 0.46% (These include agriculture, mining, construction, professional services and administrative services, among others.)

Sheikh Hamdan said the emirate’s successes highlight the combined efforts and teamwork of various stakeholders to realise the objectives of the emirate’s comprehensive development plans for 2033, especially the Dubai economic Agenda (D33) and Dubai Social Agenda 2033.

“Dubai is progressing in accordance with a clear vision whose foundations were laid down and whose goals were defined by Sheikh Mohammed bin Rashid Al Maktoum,” the Crown Prince said.

“What we witness today is a practical reflection of this vision, which has placed Dubai among the leading economic and commercial centres of the world.”

Announcements

Dubai Welcomes Kabaddi with a Spectacular Exhibition Match

Published

on

The Real Kabaddi League (RKL), known for redefining grassroots sports in India, is set to captivate the Gulf region with an exhilarating Kabaddi exhibition match at Al Ahli Sports Club, Dubai, at 6 PM onwards. This highly anticipated event will feature two specially created dummy teams—Indian Warriors and Gulf Gladiators, showcasing raw and emerging talent on an international platform.

Supported by the Dubai Sports Council, the event symbolizes a monumental step in introducing the traditional Indian sport to a global audience, particularly the Gulf region. With a blend of sportsmanship, entertainment, and education, this evening is poised to leave an indelible mark on the world of Kabaddi.

The evening kicks off with a breathtaking Arabic Emirati performance, setting the stage for an unforgettable cultural exchange.
A high-energy dance performance post-match (by Zara Khan) will close the event on a vibrant note.

Bollywood legend Suniel Shetty and Indian Wrestler Sangram Singh will lend their star presence, elevating the event’s appeal.

To familiarize Gulf audiences with Kabaddi, RKL has developed animated explainer videos that simplify the sport’s rules in an engaging format, ensuring everyone in attendance can fully immerse themselves in the action.

True to its mission, RKL will showcase young and raw Kabaddi players, making this match a gateway for unexplored talent to shine on a global stage.

Lavish Choudhary, Co-Founder in RKL, emphasized: “The aim behind RKL is always to promote young, raw, and rural unexplored talent and give them a stage to shine.”

Shubham Choudhary, Founder of RKL, added: “This exhibition match serves as the base ground for the Kabaddi sport to enter Gulf countries, and I believe people are going to love it.”

The match will be broadcast live on the Real Kabaddi League’s YouTube channel, enabling fans worldwide to experience the unmissable action. The event is open to all sports enthusiasts, welcoming everyone intrigued by Kabaddi’s dynamic energy and team spirit.

Continue Reading

Announcements

Saudi Arabia to Host 2034 FIFA Men’s World Cup; 2030 edition to span three continents

Published

on

World soccer’s governing body, FIFA, has confirmed that Saudi Arabia will host the men’s FIFA World Cup in 2034, while the 2030 tournament will be held in Spain, Portugal, and Morocco, with special celebratory matches in three South American countries. The announcement was made on Wednesday by FIFA President Gianni Infantino following an extraordinary virtual Congress.

Both tournaments were awarded through uncontested bids and confirmed by acclamation. “We are bringing football to more countries, and the number of teams has not diluted the quality. It has actually enhanced opportunities,” said Infantino, highlighting the expanded global reach of the tournament.

The 2030 World Cup will be a landmark event, taking place across six nations and three continents. Morocco, Spain, and Portugal will serve as the primary hosts, while Uruguay, Argentina, and Paraguay will hold celebratory matches to mark the centenary of the inaugural World Cup, hosted by Uruguay in 1930.

While Argentina and Spain have previously hosted the tournament, Uruguay will host again for the first time in a century. Portugal, Paraguay, and Morocco will join the World Cup’s history as first-time host nations.

In 2034, Saudi Arabia will become the second Middle Eastern nation to host the FIFA World Cup, following Qatar’s 2022 edition. This milestone further cements the region’s growing influence in the world of football.

4o

Continue Reading

Announcements

Ring in the New Year on Dubai’s waters: Abra, Taxi & Ferry with Atlantis views

Published

on

As Dubai residents and tourists gear up to celebrate New Year, they can ring in 2025 with celebrations in the waters of the emirate.

The Roads and Transport Authority in Dubai has announced special offers and exclusive services during the New Year’s Eve, December 31, 2024, on marine transport means including the Dubai Ferry, the Abra, and the Water Taxi.

Passengers can enjoy views of the Burj Khalifa, Bluewaters, Atlantis, Burj Al Arab and Jumeirah Beach Towers. Residents can cruise into 2025 aboard the Dubai Ferry, Water Taxi, and Abra, with the backdrop of the Dubai coastline, adorned with hotels, heritage areas and landmarks such as The World Islands.

Continue Reading

Popular

© Copyright 2024 HEADLINE. All rights reserved

https://headline.ae/