DED Ajman Issues Annual Economic Report 2013
Overall, real GDP increased by 4 per cent in Ajman, placing the emirate’s growth rate close to the UAE’s overall rate of 4.4 per cent in 2012, according to the report issued in Arabic and English languages by the Department of Economic Development (DED) in Ajman.
The report refers to the economic indicators of the Emirate of Ajman in 2012 compared to the previous years to document the development in the Emirate as per official statistics.
Sheikh Ahmed bin Humaid, chairman of Ajman’s department of economic development, said, "The economy of the Emirate of Ajman has so far avoided the repercussions of the global financial crisis." He commended the efforts exerted by the DED in Ajman in the implementation of the directives by H.H. Sheikh Humaid bin Rashid Al Nuaimi, Supreme Council Member and Ruler of Ajman and the follow up from H.H. Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman.
The report shows the number of occupied hotel rooms in Ajman, a measure of tourist activity in the emirate, increased from 186,500 in 2009 to 602,033 last year. The Emirate boasted nine hotels in 2005, but now has 27. The revenue of Ajman hotels grew at an average rate of 14 per cent annually across the period.
But tourism accounts for less than 6 per cent of the Ajman economy - compared to the 37 per cent share of the local economy constituted by the manufacturing industry.
The report said the food prices increased by 8.51 per cent, contributing significantly to overall inflation of 3.5 per cent. Meanwhile, the employment in Ajman banks was 48 per cent for Emiratis, suggesting the success of the emiratisation process.
Earlier, the Ministry of Public Works announced that hundreds of millions of dirhams would be spent on construction projects in Sharjah, Ajman and Ras Al Khaimah.
Emirate: Ajman
Date: Dec 5, 2013
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