Latest news with #YounusAlNasser
Arabian Post
a day ago
- Business
- Arabian Post
Dubai Economy Posts Solid 4 % Gain Driven by Health and Property
Dubai's gross domestic product in the first quarter of 2025 rose to AED 119.7 billion, a 4 % increase compared with the same period in 2024. This expansion was underpinned by strong performances in health, real estate, finance, trade, and other strategic sectors, according to official data. The standout contributor was human health and social work, which surged 26 % to AED 1.9 billion—accounting for 1.5 % of GDP and adding 0.3 percentage points to overall growth. Real estate followed closely, increasing 7.8 % to AED 9 billion, contributing 7.5 % of GDP and 0.6 percentage points. Financial and insurance activities also grew by 5.9 %, reaching AED 16 billion and adding 0.8 percentage points. Wholesale and retail trade remained the largest overall contributor, representing 23 % of GDP. It grew 4.5 % to AED 27.5 billion, which contributed 1.03 percentage points to economic expansion. Accommodation and food services advanced by 3.4 % to AED 4.9 billion; information and communications rose 3.2 % to AED 5.3 billion. ADVERTISEMENT Manufacturing expanded by 3.3 % to AED 8.7 billion, while transport and storage grew 2 % to AED 15.7 billion—supported heavily by air transport. The category labelled 'other activities' accounted for 26 % of GDP and rose 1.9 %, contributing 0.5 percentage points to growth. Younus Al Nasser, Chief Executive of the Dubai Data & Statistics Establishment at Digital Dubai, emphasised the growing importance of data and artificial intelligence in economic policymaking. He noted that up-to-date, accurate statistics are essential for enabling policymakers, researchers and businesses to make informed decisions. Dubai's performance underscores the value of reliable data in shaping future direction. Hadi Badri, Chief Executive of the Dubai Economic Development Corporation, highlighted ongoing momentum through 2024 and into this quarter, attributing it to Dubai's appeal to investors, strong public–private collaboration and strategic initiatives tied to the goals of the Economic Agenda D33. He indicated that continued efforts to unlock new opportunities and foster innovation were key to maintaining the emirate's economic dynamism. The Q1 figures build on last year's expansion, when GDP grew 5.8 % at current prices to reach AED 541 billion, and 3.2 % at constant prices to AED 443 billion. That growth was driven by trade, real estate, financial services, transport, and industry—sectors that accounted for nearly 78 % of the overall increase.
Hi Dubai
4 days ago
- Business
- Hi Dubai
Dubai's GDP Hits AED119.7 Billion in Q1 2025, Grows 4% Year-on-Year
Dubai's economy recorded a GDP of AED119.7 billion in the first quarter of 2025, achieving 4% growth compared to the same period last year, according to official data from the Dubai Data & Statistics Establishment, Digital Dubai. The expansion was driven by notable performances across several key sectors. Human Health and Social Work activities registered the highest growth at 26%, contributing AED1.9 billion and adding 0.3 percentage points to overall growth. Real Estate grew by 7.8% to reach AED9 billion, while Financial and Insurance activities expanded by 5.9% to AED16 billion. Wholesale and Retail Trade, the largest contributor to the economy, rose by 4.5% to AED27.5 billion, making up 23% of GDP and adding 1.03 percentage points to growth. Accommodation and Food Service activities saw a 3.4% rise to AED4.9 billion, and the Information and Communications sector increased by 3.2% to AED5.3 billion. Manufacturing grew 3.3% to AED8.7 billion, while Transport and Storage—heavily supported by air transport—expanded by 2% to AED15.7 billion. Other activities, accounting for 26% of GDP, grew by 1.9%. Commenting on the results, His Excellency Younus Al Nasser, CEO of the Dubai Data & Statistics Establishment, said: In an era defined by data and AI, reliable statistics are indispensable for understanding current trends and anticipating future developments. The Q1 2025 results reflect Dubai's economic progress, enabling informed decisions at all levels. His Excellency Hadi Badri, CEO of the Dubai Economic Development Corporation, noted: Dubai's sustained and diversified growth underscores its global appeal. Guided by the city's visionary leadership, we remain focused on unlocking new opportunities, enabling innovation, and turning ideas into scalable successes. The first quarter results follow a strong 2024 performance, during which Dubai's GDP rose by 5.8% at current prices to AED541 billion and by 3.2% at constant prices to AED443 billion. The Dubai Data and Statistics Establishment is now expanding its survey base and recalibrating GDP time series in line with international classifications, aiming to enhance the quality and usability of economic data. News Source: Dubai Media Office
Gulf Today
4 days ago
- Business
- Gulf Today
Dubai's GDP reaches Dhs119.7 billion in Q1 2025, rising 4% YoY
Dubai recorded a GDP of Dhs119.7 billion in the first quarter of 2025, marking a 4 percent growth from the same period in 2024, in a testament to the continued resilience and vitality of the emirate's economy. The growth recorded in Q1 2025 was driven by strong performances across a wide range of strategic sectors. Human Health and Social Work activities registered the highest growth rate, rising 26 percent compared to the same period last year. Real Estate activities grew by 7.8 per cent, while financial and insurance activities expanded by 5.9 per cent. Accommodation and food service activities recorded a 3.4 percent increase, and transport and storage rose by 2 per cent. The GDP growth in the first quarter of this year marks a continuation of the strong performance achieved in 2024, when Dubai's economy expanded by 5.8 percent at current prices to reach Dhs541 billion, and by 3.2 per cent at constant prices, totalling Dhs443 billion. This growth was driven by standout performances in trade, real estate, financial services, transport, and industry sectors that collectively contributed nearly 78 per cent of the total growth achieved during the year. Younus Al Nasser, Chief Executive of the Dubai Data and Statistics Establishment at Digital Dubai, said, 'In an era defined by data and AI, reliable statistics are indispensable for understanding current trends and anticipating future developments. The Q1 2025 results reflect Dubai's economic progress, enabling policymakers, researchers, and businesses to make well-informed decisions. "As part of our mission at Dubai Data & Statistics Establishment, Digital Dubai, we remain focused on fostering integration with relevant entities to ensure that data serves stakeholders across all levels — supporting the overarching goals of the government and the forward-looking vision of our leadership.' Hadi Badri, CEO of Dubai Economic Development Corporation (DEDC), the economic development arm of the Dubai Department of Economy and Tourism (DET), said, 'Guided by the city's visionary leadership and powered by strong public-private collaboration, Dubai's performance through 2024 and into the first quarter of 2025 reflects our continued momentum towards achieving the goals of the Dubai Economic Agenda D33. "As we look to accelerate further growth, our focus remains on implementing strategic initiatives and building both local and international partnerships, in turn unlocking new opportunities, enabling innovation, and turning ideas and plans into scalable, commercial successes.' The human health and social work sector reached Dhs1.9 billion in the first quarter of 2025, achieving a 26 per cent growth compared to the previous year's first quarter. It accounted for 1.5 per cent of Dubai's total GDP, contributing 0.3 percentage points to overall economic growth. The real estate sector, a cornerstone of Dubai's economic structure, grew by 7.8 percent in Q1 2025, contributing 7.5 per cent to the emirate's GDP, with a total value of Dhs9 billion and driving economic growth by 0.6 percentage points. The finance and insurance sector achieved a real growth of 5.9 percent in Q1 2025 compared to the same period last year, reaching Dhjs16 billion, up from Dhs15.12 billion in Q1 2024. It accounted for 13.4 per cent of Dubai's economy and contributed 0.8 percentage points to overall growth. For the accommodation and food services sector, it recorded 3.4 per cent growth, reaching Dhs4.9 billion, contributing 4.1 percent to the GDP and driving growth by 0.14 percentage points. The information and telecommunication sector grew by 3.2 percent, with a total value of Dhs5.3 billion, contributing 0.14 percentage points to economic growth and accounting for 4.4 percent of the emirate's GDP. The wholesale and retail trade sector contributed 23 per cent to the economy, with a value of Dhs27.5 billion, up from Dhs26.3 billion in the same period in 2024, marking a 4.5 per cent increase and boosting economic growth by 1.03 percentage points. Trade activity supports all other economic sectors by providing a wide variety of goods that serve multiple functions — whether as inputs, intermediates, final consumption products, or for capital formation purposes. The manufacturing sector grew by 3.3 per cent, reaching Dhs8.7 billion in Q1 2025 compared to Dhs8.4 billion in the same period last year. It contributed 7.3 per cent to GDP and 0.24 percentage points to economic growth. The transport and storage sector grew by 2 percent compared to the same period last year, reaching Dhs15.7 billion, up from Dhs15.4 billion in Q1 2024. It contributed 13 per cent to Dubai's GDP and added 0.27 percentage points to growth. The sector encompasses all activities pertaining to land, water or air transport involving individuals, goods, handling and storage activities, and postal services. Air transport remains the largest contributor within this sector due to its high output. Other activities accounted for 26 percent of the GDP in the first quarter of 2025, recording a growth of 1.9 per cent compared to the same period last year and contributing 0.5 percentage points to overall economic growth. The Dubai Data and Statistics Establishment is currently expanding the survey base and recalibrating the GDP time series, along with other economic indicators. This initiative is part of a broader transformation plan to adopt updated international classifications and implement global best practices, ensuring data outputs better serve the needs of users. WAM
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Business Standard
29-06-2025
- Business
- Business Standard
Dubai taps Indian talent as it races to be global AI capital by 2031
Dubai is positioning itself as a global hub for artificial intelligence—and it is looking to Indian entrepreneurs, startups and talent to help drive the transformation. Speaking on the city's broader digital agenda, Younus Al Nasser, chief executive of the Dubai Data and Statistics Establishment at Digital Dubai, outlined the Emirate's push to become the global capital for AI development and implementation by 2031. 'India is clearly becoming a leader in technology development across several sectors, including AI applications, clean mobility, semiconductors, space and satellite technologies, e-commerce and fintech,' he told Business Standard, adding that Dubai has adopted an 'open-door policy of embracing innovation from across the globe.' The initiative gained momentum in June 2023, when Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum launched the Dubai Centre for Artificial Intelligence. The centre's mandate includes training 1,000 government employees from more than 30 entities on generative AI, supporting over 20 technology startups, and driving government service efficiency. This was followed by the launch of the Dubai Universal Blueprint for Artificial Intelligence—a recurring annual plan designed to align AI adoption with the city's economic goals. A key benchmark: contributing AED 100 billion annually to Dubai's economy through the digital economy and lifting productivity by 50 per cent through digital innovation. As of June 2024, 22 chief AI officers had been appointed across government bodies, and dedicated incubators such as the Dubai AI Campus at the DIFC Innovation Hub had been launched to foster Web3 and AI startups. Indian businesses are responding to the opportunity. 'In 2024, over 73,000 new Indian companies joined the Dubai Chamber of Commerce,' Al Nasser noted. He attributed this surge to proactive reforms. 'We are building the latest infrastructure and regularly updating our technology regulations to ensure any new companies wanting to expand to Dubai have their base already set up and face no regulatory hurdles or bureaucracy.' The long-standing cultural and economic ties between India and the UAE also help smooth the path. 'Today Indians make over 40 per cent of the UAE's population, therefore you can find an essence of Indian culture in almost every vicinity of Dubai and the UAE,' Al Nasser said. As Dubai accelerates towards its AI ambitions, Indian innovators are becoming a pivotal part of the city's digital growth story. Dubai's push to become a fully digital city stems from a long-running commitment to technological transformation beginning in 2000 with Dubai e-Government. It built a city-wide ERP system now serving 75,000 government employees. By December 2021, Dubai achieved fully paperless government operations, with every government-to-individual transaction conducted digitally. The city's digital strategy evolved in 2021 with the creation of Digital Dubai, shifting focus to citywide transformation across seven pillars, including the digital economy and cybersecurity. Regarding data ethics, cybersecurity and AI regulation, Al Nasser said Dubai is pairing its aggressive AI adoption strategy with a strong emphasis on responsible governance, aiming to set a global standard for ethical and secure technology deployment. 'Striking the right balance between AI innovation and safeguarding public trust is central to our strategy,' Al Nasser said. A cornerstone of that strategy is the use of innovation sandboxes—controlled environments where new AI technologies can be tested under regulatory supervision. Through these sandboxes, one can adapt policies based on real-world testing. This is giving innovators clarity on the regulatory landscape while ensuring that public interests are protected. Dubai's ethical framework also includes the 2019 Ethical AI Guidelines and AI Toolkit, alongside the AI Policy for Government Entities. The policy mandates transparency, explainability, human oversight and inclusive design, and requires internal AI ethics review committees. As cities around the world compete to become smarter and more sustainable, Dubai is advancing a data-driven and human-centric model of urban living. This is powered by emerging technologies and global partnerships. Dubai's data infrastructure began with the 2016 Dubai Data Law and Open Data Committee, leading to UAE PASS—the national digital identity platform launched in 2018. Now used by over nine million individuals across 15,000 service providers, it has processed more than 600 million transactions. Today, over 1,200 anonymised data sets from 24 sectors are publicly available, supporting innovation and service delivery. The Dubai Dashboard, built on real-time and predictive analytics, tracks and forecasts across 14 economic indicators—from tourism to traffic. 'Dubai's vision is not solely about technology adoption, but human-centric technology implementation,' Al Nasser added, emphasising the city's openness to international collaboration in building a sustainable, inclusive digital future.
Arabian Business
22-05-2025
- Business
- Arabian Business
‘This journey didn't start today': Dubai govt official says AI strategy built on decade of digital transformation
Dubai's artificial intelligence strategy builds on more than a decade of digital transformation rather than starting from scratch, with the emirate implementing AI policies that include built-in expiry dates to stay current with rapid technological change, a senior government official said on Thursday. 'The journey didn't start today with digitisation. We looked at it layer by layer,' Younus Al Nasser, CEO of Dubai Data & Statistics Establishment under Digital Dubai, told a panel at the GITEX Europe technology exhibition in Berlin, referencing infrastructure development from 2014-2020. 'Now with AI, you wrap everything else with security. It's not completely fresh – you tweak it for the purpose of AI,' he said. Dubai's evolving AI governance Al Nasser said Dubai has established a comprehensive AI governance framework that includes automatic policy renewals to ensure they remain relevant as technology evolves. 'For each policy we have an expiry date,' he said during the 'AI's Hidden Costs' panel discussion. 'We need to renew our policy and remain relevant to the time today.' The Dubai official outlined a dual approach to AI implementation, distinguishing between controlled experimentation for future benefits and immediate productivity gains. 'Each organisation needs a governance framework for AI,' Al Nasser said. 'We do have an AI policy that's going into implementation across Dubai, looking at governance elements of data, how you prioritise use cases and identify return on investment.' He highlighted that AI strategies must deliver tangible business value while maintaining ethical standards. 'When you look into future proofing, this is where experimentation comes in, and you definitely need to have in place a safe environment to do that kind of experimentation,' Al Nasser said. 'But when you look into return on investment today, this is where we are enhancing efficiency, increasing productivity.' The policy framework examines whether AI implementations are inclusive, safe, and sustainable, he said. 'At the end of the day, you need to derive value, but you need to do it in a sustainable way,' Al Nasser said. The official stressed the importance of maintaining adaptable policies in the fast-moving AI landscape. 'You need to strike the right balance – adaptable and agile,' he said. Dubai has positioned itself as a regional leader in AI adoption, with Digital Dubai overseeing more than 130 initiatives, including AI roadmaps and ethics frameworks. The UAE has made significant strides in AI readiness, with Boston Consulting Group's 2024 AI Maturity Matrix classifying it as an 'AI Contender' among the top 32 emerging economies. The emirate recently climbed eight positions to rank 4th globally in the IMD Smart City Index 2025, marking its highest-ever placement. The UAE also secured 11th position globally in the UN E-Government Development Index 2024, ranking first globally in telecommunications infrastructure. Europe AI adoption challenges Other panellists highlighted implementation challenges facing European companies. Antonia Bruhn, Head of Data Policy DACH at Amazon Web Services, said European firms spend 40 per cent of their technology budgets on regulatory compliance, describing the regulatory environment as 'playing a puzzle where the pieces keep changing.' Dr. Carolina Pinart, who leads AI strategy for Nestle, said the food giant has adopted a 'responsible AI is the only way' approach with governance frameworks and strategic partnerships. 'We diversify AI products and also have strategic partnerships,' she said, noting that Nestle uses controlled AI instances where 'no data moves out.' GITEX Europe is running from May 21-23 in Berlin, marking the first European edition of the Dubai-born technology exhibition.
