The Dubai Economic Vision

GDP, GDP per capita, growth and components of economy

By 2010 the Emirate of Dubai – if it were a separate state - would be counted as a developed nation on the strength of a diversified non-oil economy with a annual GDP of US$ 30 Billion and a per capita GDP of US$ 23,000 with annual GDP growth of over 6% p.a. The non-oil economy has been predicted to contribute 96% of GDP by 2010 out of which 25% of GDP will contributed by the knowledge economy whilst the service sector will represent 70% of GDP.

Development of the existing core economic sectors

Dubai will strengthen the current core economic sectors of Tourism, Trade and Commerce, Transportation and Real Estate with the aim of becoming a Trade and Transportation hub for the entire Middle East, North Africa, the CIS and the Indian Sub-Continent and will become one of the worlds leading year – round Tourism destinations.

The Knowledge Economy

Dubai will leverage the growing Knowledge Economy to become a regional hub and a crucial node in global networks supporting Financial Services, ICT, Education and Healthcare Services. Dubai aims to be the base for R&D and intellectual property creation and will build on this to transform the present manufacturing sector to higher value-added manufacturing.  

Investment Destination

Dubai aims to become the location of choice in the region for investment activities, running back office operations and doing business. Supported by a favorable business environment and liberal and supportive economic Policies, the Dubai Government expects that annual FDI will be at least 4% of GDP.

Entrepreneurship

Dubai will champion innovation, dynamism and entrepreneurship and an integral part of the economy will be Small and Medium Businesses.
 

Source: The Executive Office of Dubai, November 2004