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UAE Economy


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 The answer was prepared by Joel Greene, a licensed real estate broker, who specializes in condo hotels and the Dubai real estate market.

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