A recent study, conducted by the Research Unit at Mashreq Bank in conjunction with Macroeconomic Research Centre, has projected that the UAE’s population in 2010 will be over 6.41 million, as compared to 5.19 million in 2007, an increase of 1.2 million (18 per cent). The population is expected to hit 6.88 million in 2011.
The study revealed that the UAE population rose by 250,000 over the course of last four years. The population will increase annually by 400,000 until the end of 2011, it claimed and indicated that Dubai alone will attract over 50 per cent of the new expatriates.
The study also forecast that the UAE’s Gross Domestic Production (GDP) in 2010 will reach around $218.4 billion (Dh802.1bn), as compared to $170.7bn in 2007 and $187.7bn in 2008. It indicated that the annual growth rate of the GDP was 28 per cent annually from 2004 and 2011.
The study clarified that the individual’s average share of the GDP is expected to rise to over $34,000 annually, compared to around $31,000 per year in 2007 and $33,000 in 2008.
It also noted that the UAE’s commercial balance will total $90bn in 2010, compared to $48bn in 2007.
Population will increase to 6.41m by 2010