Decades of growth in trade and foreign investment have seen the economies of the world become more interconnected and interdependent than ever before. The production of goods and, increasingly, the provision of services has become fractured across borders as corporations create and integrate into regional and global value chains – a process...
One of the major economic changes in Dubai and the UAE in 2018 was the introduction of a 5% value-added tax (VAT). Dubai and other jurisdictions on the Arabian Peninsula have long been popular for their lack of personal and corporate income taxes, and while they remain low-tax jurisdictions overall, this new levy is expected to add...
Global trade faces protectionist headwinds that are dampening the outlook for growth in the coming years. According to the World Trade Organisation (WTO), trade volume grew by 4.7% in 2017 and is expected to have moderated slightly to 4.4% in 2018 and dip to 4% in 2019. Although this means growth will fall below the 4.8% average seen since...
Dubai is the second-largest of the seven emirates that comprise the UAE in terms of economic size, and the main driver of economic diversity in the country. Its tourism, logistics, manufacturing and services sectors provide opportunities for growth beyond oil and gas, the industry upon which many economies in the region are dependent. Dubai’s...
GCC countries have long appreciated the importance of education for their sustained development. However, the sector, and higher education in particular, has risen as a priority over the past decade with the launch of ambitious economic diversification plans across the region. These strategies seek to harness the potential of the GCC’s...
Covering a total area of 83,600 sq km, the UAE borders Saudi Arabia to the west and south and Oman to the east. The country’s coastline stretches approximately 1318 km from the south-eastern shore of the Gulf, nearly reaching the Strait of Hormuz in the north. Most of the country is situated along the Gulf, aside from Fujairah and parts of...
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