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United Arab Emirates Economic Overview and Outlook

United Arab Emirates Economic Overview and Outlook. Population: 31/12/2012 is 9.21 Million. VIEW MORE INDICATORS. Jan/13. Unemployment rate as of 31/12/2012 = 4.20%.

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United Arab Emirates Economic Overview and Outlook

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  1. United Arab Emirates Economic Overview and Outlook

  2. Population: 31/12/2012 is 9.21 Million VIEW MORE INDICATORS Jan/13

  3. Unemployment rate as of 31/12/2012 = 4.20% Unemployment Rate: The percentage of the total labor force that is unemployed but actively seeking employment and willing to work. Calculated: Unemployed people divided by labor force times 100

  4. UAE Inflation rate as of 31/12/2012 = 1.3% Inflation: The rate at which the general level of prices for goods and services is rising, and, subsequently, purchasing power is falling.

  5. UAE GDP Growth rate as of 31/12/2012 = 4.4% GDP is an indicator of the economic health of a country, as well as to measure a country's standard of living. Critics of using GDP as an economic measure say the statistic does not take into account the underground economy - transactions that, for whatever reason, are not reported to the government

  6. Euro Area Source: TURKSTAT, IMF

  7. UAE GDP Per Capita Growth rate as of 31/12/2012 = $37,392 GDP per capita is product divided by midyear population. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products

  8. The Travel & Tourism Industry in the UAE Dubai and Abu Dhabi are synonyms for the Tourism industry which has traveled miles to achieve the status of being the tourism hub of the region. As per MasterCard’s survey, Dubai’s ranking has left behind cities like Tokyo, Bangkok, Seoul, Rome, New York, Amsterdam and the rest of the MENA region making it the 9th most favorable and preferred destinations for the tourists. Dubai recorded a 9.3 per cent rise in hotel guests and cruise passengers in 2012 to 10.16 million people.

  9. The Travel industry in the UAE Road, Air, Sea, Railways Travel agents Travel supplier Government departments Taxi, Insurance Agencies Associations/ organizers

  10. Etihad railway project

  11. The Tourism industry in the UAE Hotels, villas, apartments…etc Associations and Agencies

  12. Main oil fields in UAE

  13. Shopping center supply in UAE Source: JLL

  14. Shopping center supply in GCC Source: Alpen Capital

  15. Summary • Political • Each Emirate has its own governmental institution. • The ruling family of each Emirate is a member of the Supreme Council, which is responsible for policy-making and electing the president and vice president for five-year terms. • Economic • Wealth is based on oil and gas exports (Abu Dhabi) • The government increased spending for infrastructure and job creation, and there is a greater opportunity for private sector investment. • Social • Islam plays a large role in business • Women are seen as equals and are protected by rights and privileges • Technological • Telephones (land line and cell), radio broadcast stations, television, internet • Legal • Court proceedings in the UAE are time-consuming. • There are no juries; only a single judge or a three-judge panel (depending on the case) hears cases. • All evidence submitted to the court must be in Arabic. • Environmental • Dry, sandy desert, and coastal areas.

  16. Summary • The UAE is a Federation comprised of seven separate emirates. • Each emirate retains a high amount of political and economic independence within the federal system. • Each emirate has control over its own natural resources and regulates its commercial activity. • The central government makes laws dealing only with defense, foreign policy, communications, and immigration. Between the seven emirates they serve as members of the Supreme Council of the Union (SCU) and elect a President from among themselves. • The UAE’s currency is the dirham. • The principal growth sectors are energy production and manufacturing.

  17. Summary • The UAE is a Federation comprised of seven separate emirates. • Each emirate retains a high amount of political and economic independence within the federal system. • Each emirate has control over its own natural resources and regulates its commercial activity. • The central government makes laws dealing only with defense, foreign policy, communications, and immigration. Between the seven emirates they serve as members of the Supreme Council of the Union (SCU) and elect a President from among themselves. • The UAE’s currency is the dirham. • The principal growth sectors are energy production and manufacturing.

  18. Summary • United Arab Emirates is now the second-richest country in the Muslim world. This is because the UAE claims the world's third largest proven oil deposits. • The GDP per capita fell by 42% in the 1980s, but successful diversification helped to provide a positive growth of 48% in the 1990s. • Immigrants make up a large percentage of the UAE’s workforce. • The UAE government wants to preserve its traditional forms of art and culture.

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