UAE National Day: Exploring remarkable economic milestones of Gulf state

The UAE is proudly celebrating its 53rd National Day, also called Eid al-Etihad, reflecting on the impressive progress seen under the leadership of President HH Sheikh Mohamed bin Zayed. In 2024, the Gulf state experienced substantial development across key sectors.

The UAE has made great progress in legislation, space exploration, sustainability, housing, infrastructure and education. Numerous projects have been launched to strengthen the country’s status as a beacon of progress and innovation on the global stage.

The UAE’s national economy continues to demonstrate progress, reinforcing its position as one of the most dynamic and competitive economies across the globe. On the occasion of the 53rd National Day, it is time to explore the Gulf state’s milestones.

I was honoured to join my brothers, the Rulers of the Emirates, to witness the 53rd UAE Eid Al Etihad celebrations in Al Ain. Inspired by the legacy of our Founding Father, the late Sheikh Zayed, we reaffirm our commitment to sustainability, preserving resources for future… pic.twitter.com/BnLL0K8gIh

— محمد بن زايد (@MohamedBinZayed) December 2, 2024

1. Economic partnerships

The Emirates has been reinforcing its global trade relationship by concluding approximately 18 comprehensive economic partnership agreements in 2024. The Cepa programme is a key part of the UAE’s ambition to improve its economic landscape even more.

2. Incredible exports

The UAE’s exports in the first half of 2024 surpassed pre-pandemic numbers. The country’s non-oil foreign trade is nearing Dh1.4 trillion in just six months. The UAE seeks Dh4 trillion by 2031 and appears to be on track to meet its target.

3. Tourism

The UAE’s tourism sector is one of the most burgeoning ones globally. The revenues generated by hotel establishments in the country surpassed Dh24.6 billion in the first half of 2024, up 7% compared to the corresponding period last year.

4. Sustainability and climate action

In 2024, the UAE leadership amplified their commitment to sustainability, designating the year as the ‘Year of Sustainability’. Since assuming the COP28 Presidency, the UAE has solidified its leadership in climate action and development.

5. Global competitiveness

The Gulf state ranked first regionally in the 2023/2024 Human Development Index report issued by the UNDP, climbing nine places in the global ranking from the previous report, to rank 17th globally out of 193 countries covered in the report.