The UAE’s economy is expected to experience an acceleration in real GDP growth from 3.3% in 2023 to 4% in 2024, driven by the recovery of the oil sector, according to BMI Research, a subsidiary of Fitch Solutions. This growth is anticipated to be seen in both Abu Dhabi and Dubai, with Abu Dhabi’s growth recovering from 3% to 3.8% and Dubai’s growth accelerating from 3.6% to 3.9% in 2024. Ramona Mubarak, Head of Risk Management for the Middle East at Fitch Solutions, predicts that real non-oil GDP growth in the UAE will reach 5% in 2024, with Saudi Arabia experiencing growth of 4.6%, Oman at 3%, and Kuwait at 1.8%. Despite an increase in transportation costs, average inflation is expected to decrease from
