The World Bank's Global Economic Prospects report projects UAE GDP growth at 3.9% for 2024 and 4.1% for 2025 — an upward revision from the January estimate of 3.7% — reflecting the country's diversified economic activity and a stable, improving oil market backdrop.
UAE GDP Growth Forecast for 2024 and 2025
According to the World Bank's Global Economic Prospects report, the UAE's economy is on track to expand at 3.9% in 2024, rising further to 4.1% in 2025. The revised outlook reflects the breadth of the UAE's economic base and a favourable oil market environment, both of which continue to attract high-net-worth investor interest from around the globe.
MENA and GCC Regional Projections
The wider Middle East and North Africa (MENA) region is projected to grow at 2.8% in 2024, accelerating to 4.2% in 2025. The Gulf Cooperation Council (GCC) mirrors that trajectory, with growth forecast at 2.8% in 2024 and reaching 4.7% in 2025 as non-oil sector activity strengthens across member states.
Oil Exporters and Oil Importers
Among oil-exporting economies in the region, growth is projected at 2.9% in 2024 and 4.2% in 2025. Oil-importing economies are expected to expand at 2.9% in 2024, rising to 4.0% in 2025 — a path that closely tracks the broader regional recovery narrative.
What the Forecast Signals
The upward revision for the UAE underscores the economy's resilience and the effectiveness of its diversification drive. Robust non-oil sectors — from tourism and financial services to logistics and technology — continue to offset the volatility typically associated with hydrocarbon-dependent growth models, keeping the UAE's outlook among the strongest in the region.
