Sheikh Hamdan leads Executive Council meeting at Dubai's striking new library

Crown Prince says knowledge economy growth is top priority

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Dubai's Executive Council met on Thursday to review gross domestic product growth and plan the development of a stronger knowledge economy.

Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, led decision-makers in a meeting at the new Mohammed bin Rashid Library.

GDP growth hit 6.2 per cent in 2021 and 5.9 per cent in the first quarter of 2022, he said, marking a strong recovery after the coronavirus pandemic stalled economies across the globe.

“We realise that the next stage of our development journey and our economic achievements will be based more on knowledge and the knowledge economy, and we are ready for the next stage of Dubai's development march,” he said on Twitter.

The government has plans to make the city a global centre for technology, coding and cryptocurrency trading, along with research and development.

Earlier, Dubai authorities said 6.17 million international visitors were recorded between January and May 2022, buoyed by Expo 2020 Dubai.

That marked growth of about 200 per cent compared to the same period in 2021, at the height of the pandemic.

“As we look ahead to the remainder of 2022 and beyond, we will harness the key elements that have ensured the industry’s steady growth year after year since we reopened to international visitors in 2020 — providing an unparalleled diverse destination offering that offers unique value and memorable experiences for our guests,” said Helal Almarri, director general of Dubai’s Department of Economy and Tourism.

Inside Mohammed bin Rashid Library: in pictures

Updated: June 23, 2022, 5:49 PM