In 2025, the UAE is set to remain the fastest-growing economy in the GCC region due to its ability to increase oil production earlier than other Opec+ nations a recent report said.
According to the CEO Outlook report by KPMG, the UAE’s economy is forecasted to achieve 6.7 per cent growth in 2025, a significant increase from 3.8 per cent this year. This is likely to be primarily driven by its diversification efforts and strong trade relationships with neighbouring countries. “The nation’s positive economic outlook is supported by its thriving tourism sector and continued economic expansion,” KPMG noted.
Dubai particularly saw a surge in international visitors, with 1.77 million in January and 1.9 million in February 2024. Additionally, hotel guest spending is projected to rise from $723.4 billion in 2023 to $758.61 billion in 2024, according to the Department of Economy and Tourism (DET)… more
(khaleejtimes)