Located off the mainland on a number of islands, the city of Abu Dhabi is both the capital of the emirate and of the UAE. Under the constitution of 1971 the UAE operates as a federation of seven emirates and each of its constituent emirates has a high level of political and economic autonomy. Abu Dhabi’s ruler customarily serves as president of the UAE, while the ruler of Dubai serves as the...
UAE: Abu Dhabi
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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.
As with the rest of the banking sector across the GCC region, Abu Dhabi’s financial institutions are seeing liquidity conditions tighten as part of the fallout from weaker energy revenues.
Wide-ranging reforms aimed at regulating Abu Dhabi’s real estate sector and encouraging best practices look set to lift investor sentiment despite the challenging regional economic climate.
In a bid to solidify its profile as a travel destination, Abu Dhabi has been channelling investment into development of the emirate’s sports facilities and recreational tourism offering.
Rising demand for processed metals, fuelled by regional infrastructure projects, is set to help Abu Dhabi’s industrial sector build new momentum in terms of both output and sales.