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Dubai, together with the United Arab Emirates, aspires to consolidate itself as a global leader through strategic investments in four fundamental pillars: education, economy, government development and community cohesion.
This comprehensive approach seeks to promote sustainable growth and progress in each of these areas, thus consolidating its position.
According to projections from Standard and Poor's Global Ratings, growth of more than 5% is expected by 2024, significantly exceeding the projected global growth of 2.8%.
This growth will be driven by increased oil production and continued support from non-oil sectors. The non-oil sector is likely to continue its expansion, particularly due to the robust performance of the hotel sectors, as it is consolidating itself as a world leader in tourism, real estate, thanks to the security/transparency it provides, and financial services.
Many other activities are also showing growth. Among them, professional, scientific and technical activities, which grew by 1.9%, construction activities, which increased by 1.6%, and wholesale and retail trade activities, which grew by 1.5%.
In addition, the increase in Gross Domestic Product (GDP) is supported by the growth of non-financial revenues, reflecting an intensification of business and commercial activity.
This whole scenario underlines a dynamic and expanding economic environment.
Thanks to the numerous advantages offered by the city, which we have discussed in another blog, Dubai is emerging as a rapidly growing hub in the coming years. According to the data, more than 80% of the population is foreign, and it is expected that this percentage will continue to increase.
The Dubai government has established a target ambitious: to reach a population of 5.8 million people For the year 2040. This growth will be largely driven by the influx of foreign residents, who find Dubai a favorable environment to live and work.
Dubai's commitment to developing world-class infrastructure is reflected in its impressive skyline, modern transportation systems and state-of-the-art facilities.
The city's advanced infrastructure provides a solid foundation for businesses to thrive, attracting international investors and consolidating Dubai as a global center for business and economic development. It is planned to build new iconic structures which will not only impress, but will also attract an increasing number of tourists and make the lifestyle more comfortable, further reinforcing Dubai's position on the global stage.
Technologically, Dubai is at the forefront of the technological revolution, providing innovative companies and start-ups with the necessary center of excellence to thrive.
Foreign direct investment in Dubai-based artificial intelligence and robotics industries is the largest in the world, reflecting the trust that international investors have in government initiatives and in the innovative environment that has been created, which is destined to continue to grow.
Dubai aspires to become a world leader in sectors such as artificial intelligence, intelligent mobility and renewable energy, further consolidating its global position of innovation and technological development.
