With a substantial percentage of the world’s oil reserves and a reputation for careful economic and political oversight, Abu Dhabi has become a major regional player in recent years. In 2011 and 2012, despite ongoing political instability in the Middle East and concerns about long-term financial volatility in many Western markets, the emirate’s...
Over the past 40 years Abu Dhabi has grown into a major economic power in the Middle East. A series of ambitious long-term development policies have transformed the emirate, turning it into a regional economic, political and cultural heavyweight. As the capital of the UAE, the bustling city of Abu Dhabi (as opposed to the emirate with which it...
A key aim of Abu Dhabi’s labour policies is to increase participation by nationals in the workforce. The government takes a multi-pronged approach, combining employment quotas enforced at the federal level with emirate-specific policies – including investments in education and training, and job placement programmes – designed to develop an Emirati...
As one of the fastest-growing economies in the world in the early 2000s, the emirate’s GDP grew by 18% between 2006 and 2007 alone, according to the Dubai Statistics Centre. The biggest achievement during this period, however, was the successful diversification of the economy away from oil. While the government was the main driving force behind this...
A business-friendly environment and prime location have helped Dubai maintain a long-standing reputation a centre for trade. Building on a historical model that gave tax breaks to pearl traders, the emirate has attracted foreign investment by developing free zones that appeal to investors and businesses alike. Dubai’s free zones generally offer a...
Total government revenues for Dubai have quadrupled from Dh10bn ($2.7bn) in 2003 to an estimated Dh42bn ($11.4bn) in 2011, according to the IMF. The 2011 figures include an estimated Dh10bn ($2.7bn) in cash transfers from Abu Dhabi. Expenditures have been traditionally balanced to control the budget deficit, but the financial crisis in 2008 prompted...
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