ECONOMIC INFORMATION

Population: 960,000

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Population growth: 5.5% (2002)

Gross domestic product: $26.7bn (2004 est.)

GDP growth: 16.7% (2004)

Oil sector as % of GDP (2004 growth): 5.7% (10.9%)

Non-oil sectors as % of GDP (2004 growth): 94.3% (17%)

Fastest growing sectors: Construction, growth (share of GDP) 29% (11.3%)

Real estate, growth (share of GDP) 22% (10.5%)

Largest sectors: Telecommunications, transport, travel & freight, growth

(share of GDP) 19.3% (16.6%)

 

Industrial sector, growth (share of GDP) 16.6% (15.3%)

Other sectors: Financial sector, growth (share of GDP) 13% (9.9%)

Government services, growth (share of GDP) 4% (7.6%)

Tourism hospitality & catering growth (share of GDP) 16.4% (4.5%)

Languages: Arabic (official), English

Business environment information not available

 

 

 

FDI INFORMATION

Region: UAE

No. of projects (Jan-Sep 2004) : 195

Market-share of projects in the region: 74.4%

Value of projects relative to GDP: n/a

Top 3 destination sectors: IT & software, textiles, hotels, tourism & leisure

Top 3 business functions: Sales marketing & support, retail, business services

Top 3 source countries: UK, US, India

Top 3 investors: Kerzner International, International Financial Advisers, Canadian Aviation Electronics

 

 

 

IPA

Name: Dubai Development & Investment Authority

Web address: www.ddia.ae

* World Economic Forum Growth Competitiveness Ranking assesses an economy’s ability to grow consistently

** World Economic Forum Business Competitiveness Ranking assesses the microeconomic factors that contribute to economic growth

*** The difficulty of hiring workers and the difficulty and expense of firing workers is reflected as an index where the higher the value the more rigid the regulations