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Which one sector alone contributes almost half to Dubai’s economy?
MAGNiTT News 2 years ago - Wed, Jul 11, 2018, 10:38 AM
SOURCE: AMEinfo - Which one sector alone contributes almost half to Dubai’s economy?
Dubai SME, the agency of the Department of Economic Development (DED) in Dubai, mandated to develop the small and medium enterprise (SME) sector, has released a new study on the local SME sector.
Underlining the role and importance of the SME sector in the overall economy in Dubai, the study, which was initiated during the first quarter of 2018, showed that SMEs continued to create a significant number of job opportunities and add substantial value to the emirate’s economy.
SME contribution to Dubai’s economy rose from 40% in 2009 to 47% (almost half) in 2016 while their contribution to job creation rose from 42% to 52.4% during the same period in spite of slow global economic growth, the study showed.