IMF says UAE overall real GDP projected to grow 4% in 2024.
The International Monetary Fund (IMF) has projected that the UAE's overall real GDP will grow by 4% in 2024, a notable increase from earlier estimates. This optimistic outlook is driven by the country's diverse economic activities and strategic reforms, positioning the UAE as a significant player on the global economic stage. The UAE's growth is underpinned by strong performances in key sectors such as tourism, construction, and financial services, reflecting the robust domestic activity that continues to propel the economy forward. One of the primary drivers of this growth is the substantial foreign demand for real estate in the UAE. The country's safe haven status has led to a surge in housing prices and rents, which has, in turn, boosted domestic liquidity. This trend highlights the UAE's attractiveness to foreign investors and underscores the importance of the real estate sector in the broader economic landscape. The increased bilateral and multilate...