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UAE economy booming with $817bn trade target, thriving tourism sector and advancing global reputation

The UAE's economy is experiencing significant growth, with ambitions to reach a trade target of $817 billion by 2031, as highlighted by the UAE International Investors Council. This economic surge is supported by a thriving tourism sector, which saw a 17% increase in international visitors in the first half of 2023, reaching 14.9 million, and a notable rise in hotel occupancy rates. The country's global reputation is also on the rise, evidenced by its ranking in the Kearney Global Cities Report where Dubai and Abu Dhabi are recognized for their economic performance, innovation, and livability. Furthermore, the UAE's strategic initiatives like the Comprehensive Economic Partnership Agreements (CEPAs) are fostering economic diversification and enhancing its position as a global trade hub. The nation's focus on sustainability, highlighted by hosting COP28, and its advancements in technology and infrastructure, are key drivers in its economic narrative, positioning the UAE as a leading destination for business, tourism, and investment.

Read the Full Arabian Business Article at:
[ https://www.arabianbusiness.com/politics-economics/uae-economy-booming-with-817bn-trade-target-thriving-tourism-sector-and-advancing-global-reputation ]