Accommodation, food services’ contribution to GDP up to AED32.5 bn in 2018

ABU DHABI, Accommodation and Food Services contributed AED32.5 bn in real prices to the 2018’s GDP, a growth of 4.2 percent on year, according to the Federal Competitiveness and Statistics Authority (FCSA).

In real (constant) prices, the sector’s contribution to the non-oil GDP amounted to 6.8 percent during 2018, maintaining the high momentum it has created over the past years, driven by the growth recorded in the country’s tourist infrastructure.

According to the FCSA’s figures, the accommodation and food services’ contribution spiked from AED28.5 bn in 2016 to AED31.2 bn in 2017, before hitting AED32.5 bn last year.

The overall improvement in economic performance is driven by the successful diversification policy adopted by the UAE government over the past years and the successive gains made by the manufacturing activities along with the growth in knowledge-based industries, including aviation, space, transportation, logistics, FinTech, renewable energy, tourism, and other shared platforms.

Source: Emirates News Agency