In the first quarter of 2024, Dubai’s population grew even more as a result of an influx of foreign investors and laborers.
When comparing the first quarter of 2024 to the same period the previous year, the emirate’s population increased more quickly.
According to data from the Dubai Statistics Centre, the population of the trade, finance, and tourism hub of the region increased by 25,776 to 3,680,785 between January and March of 2024. The population increased by 25,489 during the same period last year, indicating a faster-paced flow of foreign professionals.
The most recent residency programs, the golden and silver visas, have drawn thousands of wealthy foreigners from all over the world who are seeking to settle in the United Arab Emirates.
There is now a greater demand for consumer goods and rental properties as a result of population growth. The UAE Central predicted that inflation would pick up speed to 2.5% in 2024, but it would still be significantly below the global average.
However, after a huge influx over the previous three years, the movement of foreign laborers is probably going to slow down. The population of the emirate has grown by 269,300 since January 2021, or 6,900 new residents on average every month, according to data from the Dubai Statistics Centre.
“Inflationary pressures from domestic demand are expected to be subdued in light of the deceleration in migration inflows, a slowdown in non-oil output, and some inertia from the previous year,” the Central Bank of the UAE said in its fourth quarter 2023 report.
In the upcoming years, Dubai’s and the UAE’s population will rise even further as more international businesses choose to establish headquarters here due to the robust economic growth. More job opportunities will arise from this, which will lead to population growth.