What's Hot

    Father’s Day – Stepping into father’s shoes

    June 18, 2022

    4 Expert-Backed Strategies for Managing Anxiety

    April 15, 2022

    Boris Johnson slams Russia’s ‘despicable attacks’ on Bucha citizens

    April 4, 2022

    UK could open seven new nuclear power stations to reduce Russian oil dependence

    April 4, 2022
    Facebook Twitter Instagram
    Facebook Twitter Instagram LinkedIn
    United Business OutlookUnited Business Outlook
    NOMINATE FOR AWARDS
    • Home
    • Top Global News
    • INFO-TECH
      1. Social Media
      2. How-To
      3. Computer & Laptops
      4. Mobile & Tablets
      5. Gadgets
      6. View All

      5 Best Video Editing Apps For Social Media

      March 30, 2022

      Social Media Strategies To Follow

      March 15, 2022

      WeChat: What You Need To Know

      March 7, 2022

      Social Media Content You Need to Create.

      February 5, 2022

      Things to know before starting a business with friends

      March 25, 2022

      How to get a job in the finance industry

      March 2, 2022

      How modern technology helping us solve problems

      February 28, 2022

      Legal requirements to start a business

      February 28, 2022

      Cloud computing basics

      March 9, 2022

      OnePlus 10 Pro- The launch we are waiting for!

      March 29, 2022

      The most valuable brands in 2022

      March 14, 2022

      How modern technology helping us solve problems

      February 28, 2022

      Huawei launches Smart Glasses with Detachable Front Frame along with MateBook X Pro.

      December 25, 2021

      Father’s Day – Stepping into father’s shoes

      June 18, 2022

      4 Expert-Backed Strategies for Managing Anxiety

      April 15, 2022

      Boris Johnson slams Russia’s ‘despicable attacks’ on Bucha citizens

      April 4, 2022

      UK could open seven new nuclear power stations to reduce Russian oil dependence

      April 4, 2022
    • Markets
    • Crypto
    • Funding
    • More
      • Retail
      • Entrepreneurs
      • Automotive
      • Healthcare
      • Industries
      • Technology
      • Companies
        • Apple
        • SamSung
      • Fintech
      • Marketing
      • Real Estate
      • Sales
    United Business OutlookUnited Business Outlook
    Home»Top Global News»In 2022, Sheikh Mohammad approves $49.3bn Dubai budget

    In 2022, Sheikh Mohammad approves $49.3bn Dubai budget

    Anjali SinghBy Anjali Singh3 Mins Read Top Global News January 4, 2022
    Facebook Twitter LinkedIn Telegram Pinterest Tumblr Reddit WhatsApp Email
    Sheikh Mohammad approves $49.3bn Dubai budget@unitedbusinessoutlook.com
    Source : Writecaliber
    Share
    Facebook Twitter LinkedIn Pinterest Email

    The emirate plans $16.3bn in expenditure this year, prioritizing social and infrastructure spending.

    UAE’s budget includes AED59.9 billion in expenditures for 2022, and the new budget will aid Dubai’s macroeconomic recovery efforts.

    Dubai’s deputy ruler said in a tweet that ruler Sheikh Mohammed bin Rashid Al Maktoum approved the AED181 billion ($49bn) budget for fiscal years 2022-2024. 

    Sheikh Mohammad approves $49.3bn Dubai budget@unitedbusinessoutlook.com
    Source : Linkedin

    Dubai’s new budget aims to boost the macro-economy, according to the tweet, with a spending amount of AED 59.95 bn for 2022. 

    This year, 42 percent of government expenditures were set aside for infrastructure and transportation and 30 percent for social development. Taxes are expected to generate 57 percent of revenue, while value-added and customs taxes will account for 20 percent. 

    In 2022, revenues are projected to reach AED57.5bn, and by 2023, revenues are expected to reach AED59bn, with expenditures at just over AED60bn. By 2024, expenditure and revenue are expected to equalize at AED61bn. Despite the economic fallout caused by the Covid-19 pandemic, the budget was passed.

    The tweet said Dubai’s budget for 2022-2024 supports its Strategic Plan 2030 goals and enhances public-private partnerships. 

    Last March, Dubai’s Strategic Plan 2030, which extends the Dubai Plan 2021, was approved. It aims to “create the framework for new projects and initiatives that will consolidate the emirate’s sustainable development and global leadership”, a statement at the time said.

    To diversify the economy of the emirate, Dubai passed the budget and has increased its tourism offerings to attract visitors. Expo 2020 Dubai is currently taking place in the emirate, a six-month mega-event that is expected to draw millions of visitors.

    Bloomberg reported that business conditions in Dubai improved the most in two years in October as a result of a rebound in new orders and increased tourism as Expo 2020 got underway.

    In the first 11 months of 2021, the Dubai Land Department reported a surge of 88.37 percent in property sales in Dubai following the pandemic. This was the best year in terms of total sales since 2014, with 55,640 deals worth Dh135.4 billion from January to November 2021, according to data.

    Tourism is rebounding, too, as the emirate received 4.88 million visitors from January to October 2021. In October alone, Dubai’s tourism industry attracted more than a million international visitors.

    According to the latest statistics released by the Dubai government’s media office, the hotels in the emirate sold 9.4 million rooms in the first 10 months of 2020, growing by 34 percent over the same period in 2019, driven by an increase in domestic and international visits.

    A Department of Economy and Tourism report shows that the number of business licenses issued by the emirate jumped by 69 percent to 55,194 in the first 10 months of 2021.

    Similarly, the number of e-commerce licenses – allowing businesses to do business online and through social networking accounts – grew by 63 percent in the first half of last year, to 3,243 from 1,989 a year earlier.

     

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Previous ArticleAlpha Dhabi raises stake in Abu Dhabi’s Aldar Properties to 29.8%
    Next Article Tech Giant Apple becomes the first U.S company to hit $3tn
    Anjali Singh
    • Tumblr

    I'm Anjali Singh. Writing is what I do. I look out for opportunities where I can learn and grow. I'm a creative and witty person. I'm quite artistic & I admire the art of different forms.

    Related Posts

    Boris Johnson slams Russia’s ‘despicable attacks’ on Bucha citizens

    April 4, 2022

    UK could open seven new nuclear power stations to reduce Russian oil dependence

    April 4, 2022

    Tesla: Despite obstacles, Tesla produces a record number of automobiles

    April 4, 2022
    Add A Comment

    Leave A Reply Cancel Reply

    Subscribe to Updates

    Get the latest sports news from SportsSite about soccer, football and tennis.

    Advertisement
    advertisement@unitedbusinessoutlook.com

    United Business Outlook Is An Online Magazine Providing Comprehensive Coverage And Analysis Of International Businesses From All Industries.

    We're social. Connect with us:

    Facebook Twitter Instagram YouTube LinkedIn
    Top Global News

    Boris Johnson slams Russia’s ‘despicable attacks’ on Bucha citizens

    April 4, 2022

    UK could open seven new nuclear power stations to reduce Russian oil dependence

    April 4, 2022

    Tesla: Despite obstacles, Tesla produces a record number of automobiles

    April 4, 2022
    Get Informed

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    © 2023 United Business Outlook | A Venture by Famezop Media.
    • Home
    • Get In Touch
    • Our Authors
    • Privacy & Policy

    Type above and press Enter to search. Press Esc to cancel.