Maritime sector contributes Dh26.9 billion to Dubai GDP
dubai — With over 5,500 companies practicing in 13,000 activities, the maritime sector here contributes Dh26.9 billion to the emirate of Dubai’s GDP, and supports Dubai Economy with 76,000 jobs.
Official data showed that the maritime sector’s contribution to Dubai economy grew 25 percent from 2011 to 2015, and the sector accounts for seven per cent of Dubai’s gross domestic product (GDP).
The ship owners, ports, maritime engineering operations, maritime are further supporting services among most effective components of maritime clustering, according to a top official.
Sultan bin Sulayem, Chairman of Dubai Ports, Customs and Free Zone Corporation and President of the Dubai Maritime City Authority, said that shipping had the largest share, followed by ports, maritime engineering, and maritime support services.
“The latest figures reflect the increasing contribution of the maritime sector to the local economy which grew at an unprecedented rate of 25 percent between 2011 and 2015.”
This confirms Dubai’s continuing success in becoming one of the most globally competitive, distinguished and comprehensive maritime cen- ters in the world, he added. “The Maritime Sector Strategy implemented by the Dubai Maritime City Authority has been instrument in promoting the competitiveness of the local maritime sector and keeping pace with rapid regional and international developments in order to maintain a safe, sustainable and integrated industry.”
Bin Sulayem said the maritime industry was among the five major sectors that positively impacted the economic growth of the emirate in 2015. “The maritime authority continues to develop strategic initiatives centered on nurturing a maritime environment that attracts leaders of maritime industries all over the world.”
It also provides all the necessary legislative and infrastructure to enhance the components of the maritime cluster, especially shipping, ports, maritime engineering, training and maritime support services, he pointed out. “These components collectively form a strong foundation for maximising the contributions of the maritime sector to the local economy.”
The Dubai Maritime Cluster Office will present the full details of Dubai maritime sector economic performance at the upcoming Dubai Maritime Summit taking place in Dubai, on November 2. — ahmedshaaban@khaleejtimes.com