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The collaboration will leverage Omada’s relationships with more than 450 regional retailers through its e-commerce platform.
Business3 days ago
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Dubai unemployment rate at just 0.5% as population crosses 3.5-million mark
The increase in population is attributed to an influx of foreigners
Dubai’s population has crossed the 3.5 million mark in April, according to Dubai Statistics Centre’s latest data.
Data showed the Emirate’s population has increased by over 100,000 since 2020, despite the outbreak of the Covid-19 pandemic.
The increase in the Emirate's population is attributed to an influx of foreigners, especially the high net worth individuals, after the successful handling of the Covid-19 pandemic.
As a result of strong economic recovery, private companies in human-intensive sectors such as retail, hospitality, aviation, tourism and real estate have also been increasing their headcount, resulting in an increase in population.
The Emirates' total population, according to Dubai Statistics Centre, stood at 3.478 million at the end of 2021, 3.411 million in 2020 and 3.355 million at the end of 2019.
Females accounted for 1.07 million, while males accounted for 2.4 million of the total population at the end of last year.
The population of the region’s finance and trade hub has been consistently increasing since 1975 when the local population stood at just 183,187.
Interestingly, the Emirate’s population didn’t result in a decline even during the global financial crisis of 2008 and the Covid-19 pandemic.
Since Dubai was one of the first cities to open after the Covid-19 pandemic, many people moved back to Dubai as the economy recovered and there were more business and job opportunities in the market, attracting expatriates from all over the world.
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Importantly, despite a consistent increase in population, the unemployment rate in Dubai stood at just 0.5 per cent, according to Dubai Statistics Centre. The unemployment rate is calculated based on the results of the labour force survey for Dubai.
The survey covers households and individuals who are permanent residents in Dubai regardless of the place of work. It is one of the – if not the – world’s lowest unemployment rates.
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