UAE’s economic growth over the recent years has been nothing short of astonishing. Supported by the government, businesses can thrive and grow in a positive, conducive environment. WAM reports highlighted a 3.6% increase in the country’s GDP from 2022-2023. More interestingly, non-oil GDP grew by a positive 6.2%.

Over the years, a few industries have displayed an incredible potential for growth in the UAE. Thus, we have decided to review a few of the nation’s most promising industries. This will be a useful tool for people to bear in mind as they consider their professional futures.

Logistics

The UAE has a long history of being a logistics hub. From its centuries of success as a shipping port to its thriving air freight space today, it is an ideal logistics hub. Its globally central location is a big reason for this. Today, as the UAE diversifies beyond oil, its import, export, and re-export industry has skyrocketed. Maersk reports state that its 2024 logistics market is estimated to be worth $20.03 Billion. And what’s more, experts predict that it will touch $27 Billion by 2029. UAE’s economic growth is represented quite well in this industry.

A potential student researching UAE Economic Growth before making a decision will benefit from knowing this. Thus, the value of an MBA in Logistics and Supply Chain Management becomes apparent. Further, reports suggest that the growing industry is facing a shortage of skilled labor.

Healthcare

Few people remain unaware that the UAE is poised to become the regional healthcare hub. The government is investing hugely in healthcare infrastructure. Additionally, the UAE is the single highest spender on healthcare amongst GCC countries. A full 5% of its annual GDP is allotted to the industry. Thus, it is estimated that the market will be worth $3.59 Billion by 2030.

The UAE’s Economic Growth is represented quite well by its rising healthcare industry. For those considering a future in the growing sector, an MBA in Healthcare Management will help. Explore your local online options through trusted degree providers like LUBM.

Real Estate

Perhaps you are already aware that a thriving real estate market signifies a successfully growing population. This certainly reflects the UAE’s growth. The Dubai local market especially has bloomed. A report by CBRE UAE states that average prices increased by 20.7% in March 2024 alone. This can be partially explained by the influx of Chinese and Russian nationals into the country. As investments from these burgeoning nationalities grow, the local real estate market is enjoying an upward rise. Much like the UAE’s Economic Growth.

Food and Beverage

It is no secret that the residents of the UAE are gourmands, and open to new culinary experiences. The UAE has more restaurants per capita than New York, according to the New York Times. It should come as no surprise that experts predict growth to $19.98 billion by 2024 for its  F&B Sector. Besides, its F&B sector is supported and upheld by a strong logistics industry. Thus, the nation is able to import and re-export ingredients and drinks from around the world with ease. The UAE Economic Growth in F&B is also tied to the increasing number of people choosing to live in the UAE.

Renewable Energy

Those familiar with the groundbreaking initiatives issued by the UAE government will know of the Net Zero by 2050 Strategic Initiative. In keeping with that, it has diversified its business interests outside of O&G. A part of that has been a 70% increase in the UAE’s total renewable capacity between 2022 and 2023. Thus, the nation has expanded its efforts in the Solar, Wind, and Nuclear energy sectors. The last is poised to provide up to 25% of the country’s energy needs in time. It even aspires to become one of the largest producers of hydrogen by 2031. Those entering the renewable energy sector are expected to thrive in the upcoming years. However, this may be true of many places apart from the UAE.

Education

Education has become one of the single biggest growing markets worldwide. The Pandemic pushed online distance education to the forefront of conversation and practice. Thus, that particular part of the education sector, which had already seen a 900% growth since its inception, grew further.

The UAE’s Economic Growth is characterized nicely by this sector. That is because the UAE has positioned itself as the regional education hotspot. This can be seen in the sheer number of international education centers that set roots in the nation, in their attempts to capture the Middle Eastern market. Besides, its own home grown schools are moving towards excellence in quality, teaching methods, and facilities. The growing population also adds to this, with more schools opening to accommodate the growing number of people setting roots in the land.

Those interested can pursue an MBA in Educational Management to embark on a bold career shaping lives across the UAE.

Conclusion

Exploring the nation through its most prominent industries gives us a strong insight into the UAE’s Economic Growth. It highlights where opportunities lie, and how well the government adapts its decisions to the global market. However, this list isn’t comprehensive. Other sectors also contribute to the nation’s success, like project management. Wise readers can use this to better their futures.

If you’re interested in pursuing a strong career in the UAE, we suggest getting an MBA to support it. LUBM has been providing local residents with accredited UK degrees for over 10 years now. We are proud to report that over 5000 graduates have earned their MBAs 100% online through us. Further, they have gone on to build excellent lives. Join them, and empower your future with us.