Dubai: Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Crown Prince of Dubai and Chairman of Dubai Executive Council, recently visited the Department of Economy and Tourism (DET) in Dubai. Accompanied by Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, the Second Deputy Ruler of Dubai, Sheikh Hamdan emphasized the importance of closer cooperation between the government and private sectors to achieve the objectives of the Dubai Economic Agenda D33, which was launched earlier this year by Sheikh Mohammed bin Rashid Al Maktoum, the Vice President, Prime Minister, and Ruler of Dubai.
During his visit, Sheikh Hamdan praised DET’s projects and initiatives aimed at boosting the growth of key economic sectors. The Crown Prince reaffirmed Dubai’s commitment to creating new opportunities for the private sector, consolidating the city’s reputation as the world’s best place to live, work, and visit. Sheikh Hamdan highlighted Dubai’s potential for rapid growth, positioning it as a global hub for trade, enterprise, innovation, talent, and investment.
Dubai remains committed to embracing global changes and leveraging next-generation technologies to enhance its future readiness. With its strong infrastructure, business-friendly services, flexible legislative framework, and high levels of safety and security, Dubai provides an exceptional platform for entrepreneurs and investors to realize their ambitions.
The visit also showcased the achievements of DET and its subsidiaries. Notably, Dubai witnessed a significant increase in new business establishments in the first quarter of 2023, with over 30 percent more new business licenses issued compared to the same period in 2022. The Government Procurement Programme of DET also performed exceptionally well, awarding contracts and purchases worth approximately $304.38 million to small and medium enterprises, marking a growth of over 21.5 percent compared to 2021.
Furthermore, DET is actively diversifying the manufacturing sector to strengthen its contribution to Dubai’s GDP, with a projected share of 9 percent within the next two years. The Dubai Corporation for Tourism and Commerce Marketing (DCTCM) has successfully launched global marketing campaigns that have attracted a significant share of international visitors, contributing to Dubai’s ranking as the No.1 global destination for the second consecutive year.
Dubai’s continued success in the tourism sector is evident, with an 18 percent increase in international visitors during the first four months of 2023 compared to the same period in 2022. The city’s appeal as a must-visit destination is further reinforced by its outperformance of major global destinations in terms of travel bookings. Dubai aims to maintain its appeal through various initiatives, including global marketing campaigns, the promotion of its gastronomy scene, the expansion of the Holiday Homes sector, and improved transparency and governance in the short-term rental market.
DET’s strategies align with Dubai’s vision to become one of the top three urban economies globally, establishing itself as a center for a green and sustainable economy and a leading city in the digital economy. With its relentless pursuit of growth and development, Dubai remains at the forefront of global business and tourism, attracting visitors from around the world and solidifying its position as a leading global destination.