Sheikh Hamdan reviews DET’s strategy to achieve goals of Dubai Economic Agenda D33

Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, today visited the Department of Economy and Tourism (DET), accompanied by Sheikh Ahmed Bin Mohammed Bin Rashid Al Maktoum, Second Deputy Ruler of Dubai.

Speaking during the visit, Sheikh Hamdan emphasised the importance of promoting closer cooperation between the government and private sectors to strengthen efforts to achieve the objectives of the Dubai Economic Agenda D33 launched earlier this year by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai.

Commending DET's projects and initiatives aimed at raising the growth of key economic sectors, Sheikh Hamdan said Dubai is committed to generating new opportunities for the private sector to contribute to efforts to consolidate the emirate’s rise as the world's best city to live, work and visit. Sheikh Hamdan said that Dubai stands on the cusp of a new phase of rapid growth and is poised to script new success stories as a global hub for trade, enterprise and innovation and a magnet for talent and investment.

Dubai continues to embrace global changes and leverage next-generation technologies to raise its future readiness, he said. With its robust infrastructure, business-enabling services and flexible globally-benchmarked legislative framework combined with high levels of safety and security, the city offers entrepreneurs and investors an exceptional platform to realise their aspirations, he added.

Sheikh Hamdan and Sheikh Ahmed were received at the DET headquarters by Helal Saeed Al Marri, Director-General of Dubai's Department of Economy and Tourism, and a number of senior officials of DET. 

Providing an overview of the work done by DET and its subsidiaries, as well as the progress made in various activities and projects based on the Dubai Economic Agenda D33,  Helal Saeed Al Marri highlighted the significant growth in new business establishments in Dubai in the first quarter of 2023. According to the latest DET data, Dubai recorded an increase of over 30 percent in new business licenses issued during Q1 2023 compared to the same period in 2022 while the number of business licenses automatically renewed registered a year-on-year (YoY) growth of 14 percent in the first three months of the year.

In line with D33’s goal of increasing government spending, the Government Procurement Programme of DET delivered an exceptional performance in 2022. The programme awarded contracts and purchases worth a total of approximately Dhs1.12 billion to members of the Mohammed bin Rashid Establishment for the Development of Small and Medium Enterprises, a growth of over 21.5 per cent compared to 2021.

Al Marri also highlighted the achievements of the manufacturing sector, emphasising the Department's efforts to strengthen the sector’s contribution to the emirate's GDP. In 2022, the manufacturing industry accounted for 8.6 percent of GDP, a share that is projected to reach 9 percent in the next two years. The Department is actively diversifying the manufacturing base, optimising supply chains, and adopting advanced technology in industrial solutions within the framework of initiatives designed to cement Dubai's position as a global hub for industry and export.

Global marketing campaigns and initiatives launched by the Dubai Corporation for Tourism and Commerce Marketing (DCTCM) attracted a significant share of international visitors. The continuous efforts made by DCTCM to promote Dubai worldwide was directly responsible for driving 57 per cent of the total visitation of 14.4 million international visitors in 2022, and generating millions of prospective travellers for the future, especially an anticipated substantial increase in travellers from 2023 to 2025. These marketing activities have further reinforced Dubai's position as  a first choice destination for global travellers and influenced 11 million individuals to plan their Dubai trips.  The campaigns have also inspired 6 million people to add Dubai to their ‘bucket list’ of destinations to visit between this year and 2025.

Building on the momentum across the tourism sector, Dubai welcomed 6.02 million international visitors during the first four months of this year, an 18 percent increase compared to the same period in 2022, a testament to its growing global appeal as a must-visit destination. This has further validated Dubai’s ranking as the No.1 global destination for the second consecutive year in the Tripadvisor Travellers’ Choice Awards 2023.

Dubai has also consistently outperformed major global destinations such as London, Paris and Bangkok in terms of travel bookings across 2022 and so far in 2023. The average visitor spending in Dubai increased by 6 percent compared to 2019, further consolidating its position as a leading global travel and tourism destination.

WAM