GDP of accommodation, food services sector amount to AED31 bn

ABU DHABI, The gross domestic product of the Accommodation and Food Services sector increased to AED31 bn in current prices during 2017, a growth of 8.8 percent as compared to 2016.

The contribution of this sector to the country’s GDP, estimated at AED1.422 trillion, amounted to 2.2 percent last year, and accounted for 3.1 percent of the non-oil GDP, according to statistics recently released by the Federal Authority for Competitiveness and Statistics.

As per the statistics, the GDP of the Accommodation and Food services activities rose from AED26.7 bn in 2015 to 28.5 bn by the end of 2016, before climbing to AED31 bn by the end of last year.

The impressive growth secured by the sector reflects the successful economic diversification policy adopted by the country, aimed at boosting the contributions of the non-oil sectors, including aviation, space, logistics, finance, tourism and renewable energy to the domestic economy.

Source: Emirates News Agency