Business : UAE may see 3.3% real GDP growth

The UAE is expected to achieve a 3.3 per cent real GDP growth in 2011 as the country continues to improve its economy during the year on increased trade, tourism, consumer confidence and rising oil prices, according to a new study and recent forecasts.

“We have left our 2011 real GDP growth forecast of 3.3 per cent unchanged for now, and reiterate our belief that the UAE is among one of the only countries that has seen its growth outlook improve since the start of 2011,” Business Monitor International (BMI) said in its latest forecast.

This is also confirmed by reports out of the UAE showing hotel occupancy rates improving and consumer confidence hitting all-time highs at the start of the second quarter, underpinning BMI view that it is not simply the domestic hydrocarbon sector that is benefitting from the regional crisis, it added.

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