chapter 8

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Cards (44)

  • before the discovery of oil, the UAE economy simply depended on selling pearls.
  • The pearl is referred to as the mother of all jewels
  • by the early 1900s the Japanese discovered a way to make artificial and flawless pearls.
  • artificial pearls caused the pearl industry in the UAE to plummet
  • The discovery of oil and the manufacturing of artificial pearls caused locals to shift from the pearl industry to the oil sector
  • oil was found in the UAE in the late 1950s
  • The UAE government witnessed important economic and social developments since 1971
  • UAE is ranked fifth in the world in terms of oil reserves (2008)
  • The UAE is ranked 2nd in the Arab world and 4th in the world in terms of its reserves of natural gas.
  • Abu Dhabi owns more than 90% of the oil and gas reserves.
  • UAE has 6 ports and 6 international airports
  • Dubai airport is over 61 years old as of 2021
  • Dubai Airport has been voted the best airport in the middle east multiple times.
  • Fujairah is the 3rd in the world in terms of supplying ships with fuel.
  • In 2009 the UAE hosted the International Atomic Renewable Energy, where 120 countries participated
  • Oil represents about 26.5% of GDP (2022)
  • Other sectors represent 73.5% indicating the growth of non-oil economic sector.
  • The private sector achieved 40% of total investments in 2015-2018. It relies on the manufacturing sector, trades, restaurants, hotels and crude oil.
  • Re- exports amounted to 6.6% in 2023
  • Free zones imports amounted to 30% in 2020
  • In the educational field 227 additional schools were built in the Northern Emirates.
  • The average annual growth in wages in the period 1972 to 1998 was about 19.1%
  • Global Trade Index

    Dubai 44/75
  • Ownership rights index

    23/115
  • Ease of doing business index
    46/181
  • Competitiveness in travel and tourism index
    33/133
  • Ease of acess to capital
    29/122
  • 150 million trees were planted in the desert to prevent forestation
  • More than 30 million palm trees are planted making the UAE one of the largest producers of dates in the world.
  • Ports and airports had a growth rate of 9.3%
  • Dubai Metro Project (9/09/2009) helped reduce congestion and attracted tourists saving time and effort.
  • The (without-driver) Dubai Metro's line is the longest in the world.
  • Tourism is one of the biggest non-oil sources of revenue in the UAE.
  • Tourism accounts for up to 13% of the GDP in the UAE as of 2021
  • The Green Economy initiative was first launched in January 2012 by Sheikh Mohammed.
  • Masdar City was first established in 2006 in Abu Dhabi
  • Masdar city is active in more than 30 countries worldwide
  • 90% of construction waste is reused or recycled in Masdar City
  • The first nuclear power plant in the UAE and in the Arab world is located in Al Dhafra Abu Dhabi
  • The Global Financial crisis was in 2008