12% of Dubai GDP from DIFC

The Dubai International Financial Centre (DIFC), ranked as the world’s fastest-growing international financial centre, contributed 12.1 per cent to Dubai?s gross domestic product (GDP) in 2013 with the contribution of financial services sector being over 15 per cent, according to DIFC Governor.

?Contribution of financial services sector in general and DIFC in particular was very significant to the overall economic growth of Dubai. While Dubai?s GDP grew at an average rate of 3.1 per cent between 2000 and 2013, the financial services sector grew at an average rate of over 15 per cent,? Essa Kazim said, who is also the Chairman of DIFC Authority.

In 2013, the number of active registered companies stood at 1,039; 55 new financial services firms, including Bank of London and the Middle East, Napier Park Global Capital, Carnegie Asset Management, Samena Capital and Wells Fargo, joined the Centre.

The combined workforce of companies jumped by 11 per cent to 15,600 compared to the previous year, representing over 131 nationalities.

via 12% of Dubai GDP from DIFC – Emirates 24/7.

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