He was a founding member of the Dubai chapter of The Institute of Chartered Accountants of India and once served as general manager of Khaleej Times
uae12 hours ago
Dubai’s population continued to increase in the first quarter of 2024 as more and more foreign workers and investors flocked to the emirate.
The emirate’s population grew faster in the first quarter of 2024 as compared to the same period last year.
The Dubai Statistics Centre’s data showed the population of the region’s trade, finance and tourism hub grew by 25,776 during the January-March 2024 period to 3,680,785. While the population during the same period last year grew by 25,489, reflecting that the flow of foreign professionals continued at a faster pace.
Stay up to date with the latest news. Follow KT on WhatsApp Channels.
The latest residency schemes – golden and silver visas – have been quite popular among foreigners who are looking to make UAE their home, attracting thousands of high-net-worth individuals from across the globe.
This increase in population has resulted in higher demand for properties for rentals and consumer goods. For 2024, the UAE Central projected inflation to accelerate to 2.5 per cent, but still much lower than the world average.
However, migration of foreign workers is likely to slow down following massive inflow over the past three years. As per Dubai Statistics Centre data, the emirate’s population has increased by 269,300 since January 2021, an average increase of 6,900 new residents every month.
“Inflationary pressures from domestic demand are expected to be subdued in light of the deceleration in migration inflows, a slowdown in non-oil output, and some inertia from the previous year,” the Central Bank of the UAE said in its fourth quarter 2023 report.
The population of Dubai and UAE will continue to increase in the coming years as strong economic growth will attract more foreign companies to set up bases here. This will generate more job opportunities, resulting in an increase in the population.
He was a founding member of the Dubai chapter of The Institute of Chartered Accountants of India and once served as general manager of Khaleej Times
uae12 hours ago
No casualties were reported by authorities in Aurora province, but thousands of homes were damaged, and heavy losses were sustained
uae12 hours ago
Omar Al Marzooqi is determined to qualify for the 2025 World Cup in Switzerland; his next big goal is the 2028 Olympics
uae14 hours ago
Tamim Al Tamimi had some of his shots displayed at Duroor Nights, an event that celebrated the Duroor system and its profound impact on Emirati life, in Ras Al Khaimah
uae14 hours ago
The budget covers UAE-themed decorations, cash prizes, Emirati-themed photo corner, and giveaways such as chocolates and perfumes
uae14 hours ago
These companies can offer services to GCGRA-approved commercial gaming operators
uae14 hours ago
Health experts have said many of these are triggered by improper food storage, poor dietary habits, or viral infections contracted in group settings
uae22 hours ago
The people suffering on the ground cannot wait any longer, UAE Mission to the UN said
uae22 hours ago