Economy

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. At the country level hydrocarbons account for 30% of GDP and oil exports for less than 40% of revenues. Economic development programmes for the emirate have been designed to leverage its strategic location between Europe and Asia, and the airline Emirates has played a significant role in bringing foreigners to Dubai, which accounts for two-thirds of tourist arrivals in the country. This chapter contains interviews with Hamad Buamim, President and CEO, Dubai Chamber of Commerce and Industry; Sami Al Qamzi, Director-General, Department of Economic Development; and Ahmed bin Sulayem, Chairman, Dubai Multi Commodities Centre.