The Organization of the Petroleum Exporting Countries (OPEC) confirmed the continued strong performance of the non-oil sector in the UAE during the current year 2024..
OPEC stated in its September report issued today that the tourism sector in the UAE continued to achieve strong performance after Dubai received 10.62 million international visitors during the first seven months of this year, an increase of 8% compared to the same period in 2023..
OPEC explained that the UAE continues to work to enhance its attractiveness to foreign investors and skilled professionals through several strategic initiatives, including allowing full foreign ownership of local companies, reducing business establishment costs, improvements to visa and nationality laws, implementing job security measures, and updating local laws..
OPEC pointed out that the UAE Purchasing Managers’ Index issued by “S&P Global” rose to 54.2 in August, compared to 53.7 in July, as new orders witnessed growth in August, supported by an increase in consumer and business spending, while employment in the non-oil sector continued to expand..
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