H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, today approved the Dubai Economic Report 2017, as part of implementing the directives of the Vice President, Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum.

The report, issued by the Dubai Economic Department, highlights Dubai’s economic development in 2016 and reviews the growth of the emirate’s economy in 2017, based on the latest official data and economic indicators.

"The journey of comprehensive and sustainable development in Dubai is based on innovation and high productivity, which have created a strong foundation for growth. Effective government policies to stimulate various economic sectors, mainly tourism, transportation and real estate, have helped strengthen the emirate's economy and develop productive global linkages. This has paved the way for greater foreign investment and stimulated growth in tourism and foreign trade," Sheikh Hamdan said.

"Our objective is to create a conducive environment for our economic sectors to develop into the best in the world. Dubai has established a strong economic foundation and proved its ability to meet the requirements of both the local and international business community. Our initiatives in the area of legislation have helped create a supportive environment that has encouraged major global companies to choose Dubai as their regional headquarters, which in turn has led to Dubai emerging as the economic hub of the region," he added.

The Dubai leadership’s conviction that comprehensive economic planning is key to achieving development objectives is reflected in the Dubai Plan for 2007-2015, the current plan for 2015-2021 and the Industrial Strategy 2030. The report compares the economic performance of Dubai with other regions in the world.