The Economic data:
| Interest rates (Trading Economics, 2018) | 2.25% |
| Unemployment (Central Intelligence Agency, 2014) | 3.6% |
| Inflation (Central Intelligence Agency, 2017) | 2.1% |
| GDP (Central Intelligence Agency, 2016) | $691. 9 billion |
| GDP growth rate (Central Intelligence Agency, 2017) | 1.3% |
| Exchange rates against USD (Central Intelligence Agency, 2018) | 1 Emirati dirham = 0.27 USD |
| Exchange rate regime (Central Intelligence Agency, 2018) | Floating |
| Labor force major industries (International Trade Center, 2018 | Petroleum, food and beverages, construction, hotels and restaurants, chemicals and chemical products. |
| FDI rates (International Trade Center, 2018) | $10, 975.8 million (2015 inflow) |
Physical infrastructure:
| Major airports and seaports |
United Arab Emirates has nine ports (World Port Source, 2018): Port Zayed, Port of Dibba Al-Fujairah, Port Rashid, Port of Fujairah, Port of Jebel Ali, Port of Khor Fakkan, Port Khalid and Port of Hamriyah Airports (World Aero Data, 2018): some of the airports include Abu Dhabi International, Abu Dhabi Northeast, Al Ain International, among others |
| Railway stations | Source (Government.ae, 2018): some of the major railway lines in the UAE include the Etihad rail, the Abu Dhabi Metro, the Dubai Metro and Tram |
| Internet users (Central Intelligence Agency, 2018) | 5, 370, 299 |
| Mobile providers (txtNation, 2018) | Etisalat, Du |
| Logistics performance index rating (The World Bank, 2016) | 13 |
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Business observations:
• UAE seemingly has an extensive connection regarding airports and seaports. The nine seaports are sufficient for the seaport transport. UAE also has superior ships that meet the sea transport needs of the country. The UAE airports such as the Abu Dhabi International Airports is one of the best airports in the world. UAE also has some of the best air transport companies such as the Fly Emirates that is renowned for its quality services. The thriving of UAE’s major airlines signifies the country’s economic performance. Although the expansion of the railway transport is still ongoing, the available railway coverage places the UAE at par with the other developing countries.
• With a population of slightly over nine million people, UAE has over five million people connected to the internet. That means that approximately 60 percent of the population using the internet. The figure is impressive and shows that the country is developed in regards to access to information. The internet users represent an online market base, where various business stakeholders can explore as a target. It also signifies the shift of the UAE economy.
• The exchange rate of the Emirati dirham against the USD is stable. The exchange rate of 0.27 also symbolizes that the UAE’s currency is strong, meaning that the country’s economy is among the world’s best.
• UAE has an LPI rank of 13 and an LPI score of 3.94. Germany leads the pact with an LPI score of 4.23 (FDI, 2018). Thus UAE is not very far from the leading country. UAE is ahead of all the countries in the Middle East and other countries such as Canada. It signifies that the UAE has a strong economy and might even be among the ten best world economies in the future.
• Based on the mega construction projects in the UAE, tourism may be the main source of revenue for the country in future. Some of the most promising sectors to invest in are the hotel and catering industry, recreation, as well as tours and travel.
• The exchange rate regime in the UAE is not static. The present regime is more liberal. However, the exchange rate is monitored and intervention measures put in place when necessary.
• The unemployment rate of 3.6 percent is fair considering the rates of other countries in the world. The rate signifies that the government can take care of the population that is ready to enter the workforce.
References
FDI statistics . (2018). Intracen.org . Retrieved 8 February 2018, from http://www.intracen.org/itc/market-info-tools/statistics-inward-country-industry/
Government.ae (2018). The United Arab Emirates Government Portal. https://government.ae/#/
The World Bank . (2016) | The World Factbook . (2018). Lpi.worldbank.org . Retrieved 8 February 2018, from https://lpi.worldbank.org/international/global
The World Factbook — Central Intelligence Agency . (2018). Cia.gov . Retrieved 8 February 2018, from https://www.cia.gov/library/publications/the-world-factbook/geos/ae.html
Trading Economics . (2018). Tradingeconomics.com . Retrieved 8 February 2018, from https://tradingeconomics.com/
txtNation. (2018). All Countries - List of Mobile Operators by Country (slow loading) . (2010). txtNation Support . Retrieved 8 February 2018, from https://clients.txtnation.com/hc/en-us/articles/218714228
World Aero Data (2018). Worldaerodata.com . Retrieved 8 February 2018, from http://worldaerodata.com/countries/
World Port Source . (2018). World Port Source . Retrieved 8 February 2018, from http://www.worldportsource.com/index.php
