As home to the capital of the UAE, the emirate of Abu Dhabi hosts many of the institutions that oversee the nation’s social and economic development. Over recent decades these bodies have put the country’s hydrocarbons resources to good use, employing the sizeable revenues to underpin an ambitious strategy of economic diversification. The results of this effort are...
The expansion of the UAE’s non-oil sector over the past 10 years has been one of the major economic success stories to emerge from the country. A number of factors have combined to bring this about, nearly all of them a direct result of government policy. The nation’s openness as a business destination, the resulting expansion of the workforce and expatriate population,...
A new financial centre for Abu Dhabi is taking shape on Al Maryah Island. Due to formally launch in 2015, Abu Dhabi Global Market (ADGM) is designed to promote the emirate as a global financial centre, develop the economy and make Abu Dhabi an attractive environment for financial investments. Developing the financial services sector is one of the seven pillars of Abu...
The best way of using public funds to encourage entrepreneurship has long been a source of debate. Market purists argue that a government’s role is primarily that of an enabler, in that its core focus should be on creating an environment in which capital can flow from investors to new businesses. The classic example of this approach is Silicon Valley, where a confluence...
Having seen a five-fold increase since 2001, Abu Dhabi’s GDP reached an estimated $260bn in 2013 at current prices. The hydrocarbons industry comprised 55% of output, a two-point drop in comparison to the year before, highlighting the increasing diversity of the emirate’s economy.
Trade relations between the GCC and Asian economies have been growing steadily for some time now. Recent developments suggest, moreover, that they are set to expand further over the next decade. While there are some risks associated with Asian markets, the GCC as a bloc is deepening its commitment to the region. This is signalled by a number of potential trade agreements...
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