Dubai continues to demonstrate economic resilience as its gross domestic product (GDP) experienced a commendable growth of 3.3% in the period spanning January to September 2023, according to data released by the state news agency WAM on Sunday.
In this impressive economic landscape, key sectors played pivotal roles in driving growth. Accommodation and food services experienced a remarkable surge of 11.1%, showcasing the city's appeal as a global destination. Transportation and storage services also contributed significantly, registering a substantial growth of 10.9%. Moreover, the information and communications sector demonstrated its importance by recording a robust growth of 4.4%.
Widely recognized as the trade and tourism hub of the Gulf region, Dubai's economic momentum aligns with its strategic 10-year plan, known as D33, launched in January of the previous year. This ambitious initiative aims to double the size of Dubai's economy and position the city among the top four global financial centers within the next decade.
The positive trajectory of Dubai's GDP growth underscores the effectiveness of the D33 economic plan, showcasing the city's commitment to fostering a dynamic and resilient economic environment. As a global business and trade center, Dubai's achievements in the first three quarters of 2023 signal promising prospects for the future, reinforcing its status as a key player on the international economic stage.