UAE ECONOMY

UAE Economy

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Abstract

This report analyzes and discusses economic patterns of UAE over the last decade by performing what follows (Data and analysis should be presented in tables or charts with brief explanation of the findings). Fetch data for unemployment rate, GDP nominal, GDP real, and investment spending for the last 10 years. Estimated real GDP, unemployment, and investment spending data and analyze periods of recession and periods of economic peak (possibly inflation). Compare real GDP and nominal GDP, what can you say about inflation in the UAE and what can you conclude about the data and charts you have constructed. The report discusses in detail the areas of construction, real-estate, industrial zones, shipping hubs, logistics, financial Sector, tourism and telecommunication in UAE.

Table of Contents

Introduction4

Overview of UAE Economy4

GDP4

FDI4

Labor Force4

Diversification of UAE Economy4

UAE Non-Oil Sector and Drivers of Diversification5

Construction Sector in UAE5

UAE Logistics6

Financial Sector in UAE6

UAE Workforce7

E-Commerce in UAE8

Tourism Sector in UAE8

Telecom Sector in UAE9

Future Prospects9

References11

Appendix12

UAE Economy

Introduction

United Arab Emirates (UAE) is one of the wealthiest nations in the Middle East with one of the biggest per household earnings in the world, approximated to be Dh 61,000 ($ 16,610) in 2005 according to the UAE Federation of Chambers of Commerce and Industry. The UAE has an open and generous economic climate with no taxation on income or earnings, complete independence of investment activity, and 100 % foreign possession permitted within free areas.

Overview of UAE Economy

GDP

During the last several years the UAE economical climate has shown stable development and the value of complete GDP has more than bending. Whilst oil's share has dropped, non-oil GDP has been the significant car owner behind the UAE's economical development (representing 73% in 2005). The significant non-oil areas in the UAE economical climate are: manufacturing; trade; actual estate; construction; transportation, storage & communication; and finance. Abu Dhabi and Dubai lead the most to the nation's GDP (59% and 28.9% respectively). However, the latter is mainly responsible for the amazing development experienced in the majority of nonoil areas (Istatieh, Hugo, & Hussain, 2007).

FDI

In 2005 the UAE had drawn AED 68 million of FDI, a significant improvement on previous years. The UAE has mainly been a net device of FDI inflows over the past decade; the main traders into the UAE being the USA and the UK. Business and economical services are currently getting the highest attention of tasks, getting 22% of all UAE FDI tasks, thus showing the future development of this industry (Istatieh, Hugo, & Hussain, 2007).

Labor Force

In 2004 the UAE employees made up 2,731 million of the people in this country (4,320 million), comprising a complete of 63.2%. The unique structure of the UAE's employees, with its reliance on worldwide workers, has meant that lack of employment levels in the UAE are especially low; 3% in 2004 (Istatieh, Hugo, & Hussain, 2007).

Diversification of UAE Economy

Our research determined a clear link between economical variation and maintainable development. It also revealed how variation can reduce a nation's economical movements and increase its actual ...