Abu Dhabi’s success is a blueprint for other emerging economies
Not a single Fortune 500 company had its headquarters in Abu Dhabi in 1970. The total population was about 66,000, and the city’s first international airport had just opened on a sandy airstrip. Today, more than two million visitors pass through Abu Dhabi International Airport every month. The emirate’s GDP has grown almost 200-fold since the formation of the UAE, the population has surpassed two million and a quarter of the Fortune 500 companies have regional headquarters in the UAE.
UAE’s per capita ranked fifth richest in world
The UAE has become the world’s fifth richest country per capita measured by the value of its built environment according to the latest Global Built Asset Wealth Index published by Arcadis, the leading global Design & Consultancy firm for natural and built assets. The UAE makes up the top five behind Qatar, Singapore, Hong Kong and Japan, with built assets of $140,500 for every citizen. The index, which was compiled for Arcadis by the Centre for Economics and Business Research (Cebr).
Al Tayer holds a series of discussions with finance ministers and officials from IMF and World Bank
Posted on 11/10/2015
LIMA, PERU: Ahead of the annual meetings of the World Bank Group (WBG) and International Monetary Fund (IMF), Obaid Humaid Al Tayer, Minister of State for Financial Affairs headed the UAE delegation participating in the Deauville Partnership Finance Ministers’ meeting. Al Tayer met with a number of finance ministers as well as the Fund and Bank’s international officials for the Middle East and North Africa region. During the meeting, Younis Haji Al Khoori, Under Secretary of the Ministry.
UAE 17th in WEF’s global competitiveness rankings
The World Economic Forum (WEF) has singled out the Emirates’ economy as being “significantly more diversified than other GCC countries” in its latest ranking of states according to their competitiveness. The WEF global competitiveness report ranked this country 17th in the world, scoring highly on infrastructure, the strength of its institutions and its power as a trading hub. “The UAE’s excellent macroeconomic environment, highly developed infrastructure and strong institutions.
credit source: uaeinteract.com