The hydrocarbons sector accounts for about 80% of all government revenues in the UAE. However, the sector’s GDP share varies substantially, from over 50% in Abu Dhabi to less than 6% in Dubai. Given its modest hydrocarbons endowment, Dubai continues to import most of its energy feedstock. The emirate is working to diversify its energy mix on both the supply and demand side. With 70% of...
The emirate posted robust economic expansion across all sectors in 2013, and its resilience in the years following the global economic downturn has helped to re-build confidence among the global business community. Dubai has set itself the target of reaching 20m visitors per year by 2020 and the emirate received a major boost to this end when it won the right to host World Expo 2020 in November 2013.
The sultanate’s economy continues to enjoy the benefits of petroleum wealth, which has provided budget surpluses in most years and served as a backbone for growth. However, planning is well under way for an era in which oil will not be the main economic driver, with the twin goals of diversification and creating an increased number of private sector jobs at the top of the government’s current agenda.
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×