AED 32.5 billion contribution of residence activities to the UAE’s GDP during 2018

Abu Dhabi 25-08-2019
The Gross Domestic Product (GDP) of the Accommodation and Food Services Sector at constant prices increased to AED 32.5 billion in 2018, a growth of 4.2% compared to AED 31.2 billion in 2017.
The contribution of the accommodation and food services sector to the GDP of non-oil sectors at 6.8% in 2018, according to the Federal Competitiveness and Statistics Authority.
The statistics show that the sector maintained good growth rates during the last period, which qualified it to be one of the strong supporting sectors of the national economy.
The development of accommodation and food services activities coincides with the growth in the tourism infrastructure in the country, which is considered the best in the region, in addition to the increase in the food services sector in the UAE hotel establishments.
According to the monitoring of the movement of the sector growth index during the past three years, the total output of accommodation and food services activities increased from AED 28.5 billion in 2016 to about AED 31.2 billion at the end of 2017 and continued to rise to the level recorded in 2018.
The UAE has made many gains as a result of its policy of economic diversification over the past years, according to the monitoring of the movement of indicators of economic sectors, which formed the main nerve of this approach aimed at preparing for the post-oil era that the state seeks to achieve in the coming period.
Among the sectors that have contributed to the increase in the country’s gains in economic diversification include manufacturing industries as well as knowledge industries, aerospace industry, transport, storage, financial services, tourism, new and renewable energy and other economic sectors.