The global organisation hailed the progress of the the UAE’s travel and tourism sector…reports Asian Lite News
The UAE’s non-oil sector is expected to continue its robust growth in 2023, building on the solid growth momentum of 2022, according to OPEC’s Monthly Oil Market Report – June 2023.
The global organisation hailed the progress of the the UAE’s travel and tourism sector, noting that it’s “recovering robustly, with a 55.8% y-o-y increase in passengers at Dubai International Airport in 1Q23, reaching 95.6% of its pre-pandemic levels. ”
It is anticipated, continues the report, that passenger figures will surpass those of 2019 this year.
“This revival in tourism, coupled with a growing population and government support, is contributing to the overall economic growth and the UAE’s capability to withstand global economic challenges.”
The country’s Purchasing Managers’ Index (PMI) has remained at a high level, but retracted slightly in May to a level of 55.5, after 56.6 in April, therefore suggesting that the expansionary trend will be maintained, according to the report.
OPEC had earlier offered its full support UAE’s COP28 Presidency. It called UAE as a recognised global leader in tackling the challenges related to energy, climate change and sustainable development.
“Not only in words, but also in its actions with major investments into the development and deployment of renewables and technologies focused on reducing greenhouse gas emissions,” said OPEC in a statement.
“Dr. Al Jaber is a well-respected and renowned global energy leader. As Chairman of Masdar and Group CEO of the Abu Dhabi National Oil Company (ADNOC), he has guided Masdar into becoming a global leader in renewables and continues to lead ADNOC on an unprecedented decarbonisation path, with ADNOC today having some of the lowest emissions per barrel of oil produced globally,” added the statement, published on the organisation’s website.”
“OPEC believes that COP28 needs every voice at the table to achieve practical, pragmatic and realistic solutions. We wish the UAE and Dr. Al Jaber every success.”
ALSO READ: President, VP meet to discuss UAE’s development
