Key View: We believe that passenger EV sales will continue to strengthen in the UAE over our 2023-2032 forecast period as the economies in the wider Gulf Cooperation Council region increasingly diversify to include EV and hydrogen fuel cell manufacturing (along with the wider value chain such as green hydrogen production, mining and battery

Key View

• UAE’s healthcare expenditure will record solid growth over our forecast period, led by an expanding private sector.
• Continued focus on implementing digital health will ensure greater uptake of technological solutions in healthcare over the long term.
• Increasing demand for healthcare services will place pressures on the healthcare

Key View

• Extended OPEC+ oil cuts combined with lower oil prices prompted us to revise down our 2023 growth forecasts for Abu Dhabi by 0.5 percentage points, Dubai (-0.1pp) and by extension the UAE (-0.3pp).
• Meanwhile, we have maintained our 2024 growth forecast for the UAE unchanged at 4.0%, as higher oil prices will offset the impact of

Key View

• We expect that Dubai’s real GDP growth will decelerate from an estimated 4.2% in 2022 to 3.4% in 2023, marking a downward revision from our previous forecast of 3.8% amid lower oil prices and a higher cost of borrowing.
• Still, 2023 growth will remain above trend, supported by stronger activity in key sectors, such as wholesale &

Key View:

• The UAE is strengthening its position as a significant player in the Middle East and North Africa region's data centre market.
• Driven by its strategic location and commitment to digital transformation, the UAE is investing heavily in data centre infrastructure to support its growing digital economy, in alignment with the government

Key View

• We expect the growth of non-hydropower renewables and nuclear power will place the UAE on track to meet its 14GW clean power by 2030 target.
• We believe the UAE’s ambitions to expand oil and gas exports along with its energy diversification strategy will pose a downside risk to gas-powered generation growth.
• Green hydrogen will

Key View

• At Fitch Solutions we expect the UAE’s real GDP growth will slow from an estimated 7.8% in 2022 to 3.5% in 2023.
• Fading base effects, slower hydrocarbon production growth, lower oil prices and slower expansion in the tourism sector will be key drivers of the economic slowdown.
• Risks to the outlook are skewed to the downside. Lower