Dubai’s economy is increasingly based on non-oil sectors such as tourism and services, resulting in an eight percent growth rate, one of the highest in the region, reported as the official Kuwait news agency, KUNA, citing a recent report.
The report notes that non-oil based sectors of Dubai’s economy came to represent 89 percent of gross national product (GDP) last year, breaking the 60 million dirham mark (or more than $16 billion).
The report says that the non-traditional sectors of tourism and services have turned Dubai into a popular destination for tourists, who number about three million annually.
The commercial sector, which depends to a large degree on re-exporting goods to nearby regions, accounted last year for 17 percent of the GDP, the industrial sector 16 percent, banking and finance about 10 percent, construction 8.4 percent, and real estate 9.6 percent – Albawaba.com
