Dubai’s economy grew by 4.9 per cent in the first half of the year, according to the Dubai Statistics Centre.

The official estimate for 2012 growth was also revised downwards, from 4.4 per cent to 4 per cent. Economic growth in 2011 was revised upwards to 3.2 per cent from 3 per cent.

Growth in the first half of 2013 was driven by hospitality and manufacturing, which grew by 13.7 per cent and 13.3 per cent respectively. Wholesale and retail trade, which makes up almost a third of the emirates economy, rose by 4.1 per cent. Real estate and business services rose by 3.3 per cent.