The Dubai International Financial Centre (DIFC) yesterday issued its fifth annual Economic Activity Survey Report which showed that the GDP of the centre’s sub-economy grew 7 per cent to $3.13 billion (Dh11.49 billion) in 2011 from $2.92 billion in 2010.
The report estimates the DIFC’s contribution to the UAE’s non-hydrocarbon GDP is approximately 1.4 per cent. “The report highlights DIFC’s advancement as a global hub of finance and business. We are confident that DIFC will continue to be a catalyst of growth for the region, by providing a platform of world-class infrastructure for financial and business institutions to extend their reach and access new economies,” said Abdullah Mohammed Al Awar, CEO of DIFC Authority.
The survey, undertaken by the DIFC Economics team, is based on international best practices in national accounting, and measures output, intermediate consumption and ultimately the gross value added produced within the DIFC district by entities registered in the Centre.
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