Thanks to business-friendly government policies implemented over the past 10 years Abu Dhabi is now home to a rapidly diversifying economy that is among the largest in the region, with GDP reaching a total of Dh952.68bn ($259.32bn) at current prices in 2014.
The development of a knowledge-based economy and a highly skilled and productive workforce are key priorities of Abu Dhabi Economic Vision 2030. To this end the government continues to invest significantly in education, with 21% of federal spending under the UAE’s $38.11bn draft budget for 2014-16 going towards public and higher education. Meanwhile private schools have played an increasingly...
Hydrocarbons revenues still form the bulk of Abu Dhabi’s GDP and while falling prices are a concern, the emirate has been moving steadily towards its economic diversification targets in line with Abu Dhabi Economic Vision 2030. The past 10 years has seen the non-oil sector expand strongly on the back of business-friendly government policies, as a result of which non-oil sector growth now outpaces that of the oil sector.
While hydrocarbons continue to make up the lion’s share of the emirate’s GDP, oil revenues are supporting long-term efforts to diversify the economy. Oil and gas accounts for about 52% of real GDP, down on previous years, followed by construction, manufacturing and real estate. High-quality transport infrastructure, meanwhile, is boosting trade activity and free zones in Abu Dhabi.
Stay updated on how some of the world’s most promising markets are being affected by the Covid-19 pandemic, and what actions governments and private businesses are taking to mitigate challenges and ensure their long-term growth story continues.
Register now and also receive a complimentary 2-month licence to the OBG Research Terminal.
Register Here×