Economies around the Gulf region have faced a challenging economic environment since the second half of 2014, but a more optimistic outlook for international oil prices in 2017 has offered some welcome relief. The process of fiscal reform that the oil price decline precipitated is, however, set to continue. The restructuring of Abu Dhabi’s public finances has taken into account the federal...
The Middle East Economy
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With substantial financial buffers and hydrocarbons reserves that are among the world’s largest, Abu Dhabi has increased its political and economic influence in recent years, both regionally and globally. From renewable energy to health care and aviation, a rapidly diversifying economy means that the emirate is well placed to weather the prolonged period of reduced oil prices that continues to...
While reduced oil prices are undoubtedly a concern for the emirate’s authorities, economic diversification efforts of recent years mean Abu Dhabi is well placed to weather a prolonged period of subdued prices. Vision 2030 meanwhile contains a raft of goals that will further reduce the emirate’s reliance on hydrocarbons, and continue to foster the emergence of a more sustainable and knowledge-based economy in the years ahead.
Chapter | Table of Contents from The Report: Sharjah 2017
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The guide contains listings of some of the leading local hotels and resorts and contacts for important government offices and services. It also contains useful tips and information for business and leisure visitors, first-time or regulars.
Among the most diversified economies in both the UAE and the wider GCC region, Sharjah has developed strong manufacturing, tourism and logistics industries, among other non-oil sectors. Against a backdrop of reduced oil prices and lower economic growth, local and federal authorities are working to develop the economy further through a range of measures intended to improve the business...