[ad_1]
Dubai – Mubasher: Gross domestic product (GDP) in the UAE constant price housing and food services sector reached about AED 31 billion in 2017, an increase of 8.8% over 2016.
The sector's output accounted for 2.2% of total gross domestic product in the last year, or 1,422 billion dirhams at current prices, and 3.1% of total non-oil GDP, according to statistics released by the government. Federal Authority for Competitiveness and Statistics, according to WAM.
Accommodation and food services have maintained their growth rates in recent years and have become important sectors to support economic diversification policy, a policy in which the United Arab Emirates has become an example in the region. according to the evaluations of specialized international institutions.
The growth observed in the sector is consistent with the growth of the country's tourism infrastructure, considered the best in the region, in addition to the significant growth recorded in the restaurant services sector provided by the Arab Emirates hotels. United.
Tracking the evolution of the sector's growth indicator over the past three years has shown the magnitude of growth observed after growth in gross production of accommodation services and from AED 26.7 billion in 2015 to AED 28.5 billion at the end of 2016, before rising to 31 billion dirhams at the end of last year. .
It should be noted that the UAE achieved many gains through its economic diversification policy at the end of 2017, as evidenced by the monitoring of the movement of economic sector indicators, which were at the heart of this approach, which aims to prepare for the post-petroleum era.
The success of the diversification policy was based on a number of factors, namely: increasing the contribution of the private sector to general development in general and developing the high value-added economic sectors that support the national economy.
The list of sectors that have contributed to the increase in state earnings in terms of economic diversification. Manufacturing industries and knowledge industries, aerospace industries, transportation, storage, financial services, tourism, new and renewable energies and others.
[ad_2]
Source link
