UAE’s Fintech Sector Powers Growth, Contributes 8.7% to GDP
Abu Dhabi [UAE], February 26: The UAE’s financial technology (Fintech) sector continues to be a major driver of economic growth, contributing 8.7 percent to the country’s Gross Domestic Product (GDP), according to Abdullah bin Touq Al Marri, Minister of Economy.
During Investopia 2025, which began today in Abu Dhabi, Al Marri emphasized the fintech sector’s vital role in driving sustainable economic growth. He stated that the industry is on track for further expansion, aiming to boost its GDP contribution to approximately 12% by 2031.
He highlighted the United Arab Emirates’ dedication to creating an atmosphere that is conducive to investment and encourages new industries, such as the space economy. By promoting additional businesses to enter and grow in this sector, the UAE hopes to solidify its standing as a world leader in space-related developments.
The minister also mentioned agricultural innovation as a major area influencing the economic climate in the United Arab Emirates. This industry is committed to attaining food diversity, drawing in investments, and incorporating cutting-edge technology, all under the direction of a strong food security plan. The aim of these initiatives is to strengthen the UAE’s position as a major food export hub.
Al Marri also discussed the UAE’s expanding business environment, noting that 200,000 new business licenses were issued across various industries in 2024. The ministry is committed to increasing the number of companies and economic entities in the country, which currently exceeds 1.1 million, to promote long-term growth and economic diversification.