A boom in tourism and strong trade helped to boost Dubai’s economy by 3.4% last year, nearly half a percent higher than originally forecast. According to recent figures from the Dubai Statistics Centre, the emirate’s economy rose by Dh10 billion in 2011 to reach Dh306.2 billion.
Contributing greatly to this economic rise was Dubai’s hotel industry, which posted Dh16 billion in revenue in 2011, up by 20%. Rising trade was also a major contributing factor, up 5.8% last year. Dubai’s economy is on target to gain more momentum this year, with visitor numbers expected to increase by 10%. Experts also say the positive figures witnessed by the trade and tourism industry could help to boost the city’s economy by up to 5% this year.