The emirate ranked third globally in "economic performance"
Hamdan bin Mohammed: Dubai's D33 economic agenda has raised the ceiling of ambitions
His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai, said that the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has achieved leadership for Dubai, and the Dubai Economic Agenda (D33) has raised the bar of ambitions.
His Highness Sheikh Hamdan bin Mohammed said in a tweet through his official account on Twitter: "Dubai ranked third globally in the Global Economic Performance Report issued by The Economist magazine, which monitored various economic and development indicators over the past three years and future prospects for growth. Sheikh Mohammed bin Rashid's vision has achieved leadership for Dubai, and the Dubai Economic Agenda (D33) has raised the bar of ambitions."
His Highness added: "We thank the work teams in the government and semi-government sectors and partners from the private sector, who are working to consolidate Dubai's global position in various indicators and sectors."
According to the Economist report, Dubai ranked third globally on the economic performance index, outperforming New York, London, Sydney, Tokyo, Johannesburg, Paris and San Francisco, which came in fourth to seventh places, respectively, while Miami was the United States, while Singapore came in second place. The index, developed by the British magazine, is based on changes in four key metrics, including population, economic growth, job vacancies and house prices over the past three years.
Dubai ranked third, after achieving outstanding performance on three sub-measures within these four metrics: "population growth", "vacant office ratios" and "real prices of houses".
Dubai's population increased by 5.8% between 2019 and 2022, and only two other cities (Johannesburg and London) were among the 10 cities that recorded an increase in their population during that period.
As for the "vacant office ratios", Dubai was the only one of the 10 cities that recorded a decrease in the percentage of office space vacant during the period covered by the index, reflecting the extent of the demand by international companies to establish offices in Dubai.
In terms of 'real house prices', real house prices in Dubai increased by 11.9% during the period covered by the index.
The report pointed out that Dubai and Singapore shared an important advantage, which contributed strongly to winning two places ahead of the index, namely the clear ease of doing business.
Crown Prince of Dubai:
"Mohammed bin Rashid's vision has achieved leadership for Dubai, and we thank the teams in the government and semi-government sectors and partners from the private sector."