According to S&P Global estimates, the UAE’s gross domestic product (GDP) is projected to grow by 3 per cent in 2023, rising to 4 per cent next year. Growth is driven by the non-oil sector, which is expected to benefit from strong growth in tourism, government initiatives, and technological advancements, analysts at the credit rating agency said in a statement to state news agency, WAM. Over the years, the UAE has implemented several comprehensive economic and social initiatives that are designed to set the stage for sustained and long-term growth, said S&P Global. Trevor Cullinan, sovereign ratings analyst at S&P Global said key contributors to the country’s economic growth, include oil and gas, wholesale trade, industry, real estate, construction, financial services, and tourism.