| |
Q.
How is the UAE economy? Is it stable? This is an important
consideration for investing in a foreign country.
A.
Yes, it is important, and you'll be glad to know that
the UAE is one of the world's wealthiest countries with
a GDP of over $55 billion. It has the third largest
proven oil reserves in the world. While oil and gas
production form its foundation, Dubai is increasingly
broadening its economic activity to include real estate,
tourism, trading and manufacturing. In fact, oil now
contributes less than 10% of the total economic production
with trading, manufacturing and services including tourism
dominating its economy.
The
above question was submitted via e-mail by a visitor
to www.CondoHotelsDubai.com.
The answer was prepared by Joel Greene, a licensed real
estate broker, who specializes in condo hotels and the
Dubai real estate market.
|
|
