Boosting economic integration among the Gulf states has been a central objective of the GCC since the organisation was established in late May 1981. Indeed, while the six countries that make up the GCC – namely Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE – have implemented joint projects in a wide variety of sectors, economic...
The government’s significant role in the domestic economy, and the sizeable fiscal spending that underwrites much of the UAE’s infrastructural development, sometimes obscures another important facet of the nation’s economic development. The role played by charitable organisations in the UAE is a prominent one, and a wide array of institutions...
As Abu Dhabi seeks to transform itself from a resource-based economy to one in which knowledge-based activity accounts for a far greater share of GDP, its labour market faces a transition point. To date the emirate has, like much of the rest of the GCC, had great success in attracting skilled and unskilled foreign labour to work within its...
The UAE celebrated the 42nd anniversary of its establishment in 2013. Over this relatively short period of time, the country’s capital, Abu Dhabi, has rapidly developed to become a thriving metropolis. Although the emirate’s economic growth can be primarily attributed to its vast hydrocarbon resources, it has also made admirable progress...
A number of reasons combine to make Abu Dhabi an attractive location for foreign direct investment (FDI), the most obvious of which is the emirate’s sustained positive economic performance. Indeed, Abu Dhabi’s real GDP grew at a compound rate of 5.6% between 2001 and 2012, according to the Abu Dhabi Department of Economic Development (ADDED),...
The role of small and medium-sized enterprises (SMEs) is crucial in any economy. According to the International Finance Corporation (IFC), formal SMEs account for up to 45% of employment and up to 33% of GDP in emerging economies, while in high-income countries they account for 62% of employment and nearly 64% of GDP. Given the significant role...
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