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- 📈 Dubai's GDP Grows by 3.2% in Q1 2024, Reaching Over $31.3 Billion
📈 Dubai's GDP Grows by 3.2% in Q1 2024, Reaching Over $31.3 Billion
Augustus Media FZ LLC
July 25, 2024
Marhaba folks! 🌞In today's edition, we discuss Dubai's 3.2% GDP growth in Q1 2024, the focus of over 70% of Saudi real estate investors on the UK property market, and King Khaled International Airport's lead in the 15M+ passenger category for June. Yalla, let’s go 🏃🏻♀️
📈 Dubai's GDP Grows by 3.2% in Q1 2024, Reaching Over $31.3 Billion
Dubai
What is it about:
Dubai's GDP grew by 3.2% in Q1 2024, reaching $31.05 billion, driven by wholesale/retail, transport, and financial sectors.
In 2023, Dubai’s GDP increased by 3.3% to $115.83 billion.
Abu Dhabi’s GDP also expanded by 3.3% in Q1 2024 to $77.42 billion, with a 4.7% rise in the non-oil sector.
Why does it matter:
Shows Dubai’s economic strength and diversification, with key sectors contributing significantly.
Highlights positive economic trends in both Dubai and Abu Dhabi, indicating resilience and growth potential.
What is next:
Watch for continued economic performance and sector contributions.
Focus on investment strategies and further diversification in response to global and domestic changes.
📈 Markets
EGX 30 | 29,132.30 | –62.94 |
DFMSI | 4,228.65 | +12.50 |
ADX | 9,263.44 | +0.32% |
Tadawul | 12,103.46 | –2.08 |
🏠 Over 70% of Saudi Real Estate Investors Target UK Property Market
Saudi
What is it about:
Over 70% of Saudi real estate investors are targeting the UK property market, reflecting a shift towards international investments.
Why does it matter:
Highlights growing Saudi interest in the UK for its stable market and high return potential.
Indicates a broader trend of Saudi investors seeking opportunities outside the local market.
What is next:
Monitor the impact of this shift on the UK property market.
Observe potential changes in Saudi investment strategies and their effects on local markets.
Quote of the day
“There’s no shortage of remarkable ideas, what’s missing is the will to execute them.” – Seth Godin
✈️King Khalid International Leads 15M+ Passenger Category in June, Surpassing King Abdulaziz for Third Month
King Khalid International Airport
What is it about:
King Khalid International Airport led the 15M+ passenger category in June 2024, surpassing King Abdulaziz International Airport for the third month in a row.
Why does it matter:
Demonstrates King Khalid's consistent excellence in passenger experience metrics, such as flight delays and check-in efficiency.
Highlights the competitive performance across various passenger categories in Saudi Arabia.
What is next:
Track ongoing performance trends and metrics of these airports.
Watch for potential shifts in rankings and the impact on regional airport competition.