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International Monetary Fund (IMF) expected UAE's economic growth to increase to 4.5% in 2015, compared to 4.3% in 2014. The IMF ascribed UAE's potentially strong economic growth in World Economic Outlook Report to the increased contribution of non-petroleum sectors, which registered a growth average of more than 6% in 2014 and 2015.
Tourism is a major economic source of income in Dubai and part of the Dubai government's strategy to maintain the flow of foreign cash into the emirates. [19] The tourism sector contributed in 2017 about $41 billion to the GDP, making up 4.6% of the GDP, and provided some 570,000 jobs, accounting for 4.8% of total employment. [20]
Dubai [a] is the most populous city in the United Arab Emirates and the capital of the Emirate of Dubai, the most populous of the country's seven emirates. [5] [6] [7] As of 2024, the city has a population of around 3.79 million, [8] more than 90% of which are expatriates.
In the last three years, Dubai saw an increase in 4 and 5 star hotels and number of rooms, but a decrease in standard hotel apartments. The total number of rooms increased by 9,098 from 2015 to 2017, an increase of 9.25%. Prior to the Expo 2020 hotels in Dubai were reducing room rates to stimulate demand as supply accelerated.
Property prices in the Emirates had fallen 58% from their peak in the fourth quarter of 2008. [24] The world economic recovery from the Great Recession resulted in a rebound for the Dubai real estate market: it was reported that "residential prices [in Dubai] rose by 17.9% from August 2012 to 2013, while rents soared by 14.9% in the same period".
The population of Dubai, the most populous city in the United Arab Emirates, is estimated to be 3.655 million as of December 2023 according to government data. [1] [2] As of 2021, 3.2 million were non-Emirati, and 69% were male. [3] About 58.50% of the population is concentrated in the 25-44 age group.
Source: Social Security Administration. The projected 2025 COLA for Social Security is 2.5%, according to an emailed September 11 TSCL press release, resulting in another drop.
The United Arab Emirates experienced a significant population increase in recent years as a result of major economic growth. This led to an influx of workers from diverse cultural and religious backgrounds, increasing the population from 4 million in 2004 to roughly 8 million in 2009. [4]