The UAE’s economy is expected to experience an acceleration in growth, with the country forecasted to grow from 3.3% in 2023 to 4% in 2024, according to BMI Research, a subsidiary of Fitch Solutions. This growth is driven by the recovery of the oil sector, which is projected to increase from 1% in 2024 following a contraction of 3.2% in 2023.
The success of the UAE’s economic diversification efforts has been highlighted, with significant progress made in plans aimed at reducing dependence on oil and gas revenues. Abu Dhabi’s growth is projected to increase from 3% in 2023 to 3.8% in 2024, while Dubai’s growth is anticipated to accelerate from 3.6% in
