Dubai's positive report: Growing visitors, surging markets
During the first six months of 2023, Dubai solidified its position as a world-leading tourist destination by welcoming over 8.5 million international visitors. Simultaneously, the Dubai Financial Market experienced remarkable growth, with a 14% rise in its index and a Dh71 billion increase in market value .
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Dubai Shines as a Top Global Tourist Destination and Economic Powerhouse
The real estate sector also witnessed substantial demand growth, culminating in total transactions worth Dh285 billion. These achievements reflect the extraordinary economic progress outlined in a report reviewed by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, highlighting Dubai's resilience, strategic planning, and the confidence it has inspired in global investors, institutions, and business leaders.
Dubai's Optimistic Outlook and Ambitious Goals
Dubai's economic performance in the first half of 2023 surpassed expectations, paving the way for potentially record-breaking results in the upcoming months. Sheikh Hamdan expressed enthusiasm for a strong start in 2024, aiming to enhance the business environment, accelerate economic growth, and contribute to the goals outlined in the Dubai Economic Agenda D33. The city's determination to continually elevate itself and achieve economic excellence reflects its commitment to shaping a prosperous future.
Dubai: A Global Magnet for Wealth and Success
In addition to its tourism achievements, Dubai solidified its status as one of the world's three most attractive cities for the wealthy and one of the fastest-recovering cities from the COVID-19 pandemic. This recognition can be attributed to Dubai's strategic location, robust infrastructure, and sustained economic growth. The emirate's growing appeal to wealth owners aligns with the goals of the Dubai Economic Agenda D33, which aims to attract an annual average of Dh60 billion in foreign direct investment over the next decade. Efforts to foster investor confidence and enhance regulatory frameworks further contribute to Dubai's attractiveness as a global financial and economic powerhouse.
Dubai: A Financial Hub of Excellence
The Dubai Financial Market emerged as one of the best-performing stock markets in the first half of 2023, with its index surging 14% to close at 3,792 points. The market value of listed companies reached Dh652 billion, reflecting an impressive Dh71 billion increase. Trading volumes exceeded Dh46 billion, with institutional trading accounting for 57% and foreign trading representing 48%. Nasdaq Dubai also experienced substantial growth, establishing itself as one of the world's leading hubs for Sukuk listings, with the value of listed Sukuk reaching $75 billion. These outstanding financial market results support the objective of the Dubai Economic Agenda D33 to position Dubai as one of the top four global financial centers.
Dubai's Resilient Real Estate Sector
The real estate sector in Dubai continued to thrive in the first half of 2023, witnessing significant demand growth and achieving total transactions valued at Dh285 billion. This robust performance aligns with the goals of the Dubai Economic Agenda D33, which aims to create a highly competitive environment and infrastructure, making Dubai the ultimate place to live, visit, and work. Dubai's real estate sector plays a vital role in driving economic growth and fostering a prosperous environment for residents, businesses, and investors alike.
