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The United Arab Emirates is a high-income developing market economy.The UAE's economy is the 4th largest in the Middle East (after Turkey, Saudi Arabia and Israel), with a gross domestic product (GDP) of US$415 billion (AED 1.83 trillion) in 2021-2023.
This article lists the countries of the Arab League sorted by their gross domestic product (GDP) at nominal values.GDP is the value of all final goods and services produced within a nation in a given year.
Based on latest figures and estimates, the Arab League has a GDP of approximately US$3.5 trillion at nominal values and $9.4 trillion at purchasing power parity (PPP). The member states with the largest nominal GDP are Saudi Arabia at US$1.115 trillion, followed by the UAE at $507.18 billion and Egypt at $489.4 billion.
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The United Arab Emirates has been successfully diversifying the economy. 71% of UAE's total GDP comes from non-oil sectors. [86] Oil accounts for only 2% of Dubai's GDP. [87] The UAE is also making an effort to attract foreign direct investment by offering 100% foreign ownership and no taxes. [88] Tourism is one of the main sources of revenue ...
This is a list of Arab League countries by gross domestic product at purchasing power parity (PPP). Gross domestic product is the value of all final goods and services produced within a nation in a given year.
Tourism is a major economic source of income in Dubai and part of the Dubai government's strategy to maintain the flow of foreign cash into the emirates. [19] The tourism sector contributed in 2017 about $41 billion to the GDP, making up 4.6% of the GDP, and provided some 570,000 jobs, accounting for 4.8% of total employment. [20]
Since the independence of the United Arab Emirates from Britain in 1971, Egypt and the UAE relations (Arabic: العلاقات المصرية الإماراتية) were always at a good level and developing at an unprecedented rate. Egypt has an embassy in Abu Dhabi and consulate-general in Dubai while the UAE maintains an embassy in Cairo.