UAE Economic Analysis
The given project provides recommendations to improve the economic condition of the UAE with the help of vital economic indicators like real GDP, inflation, the balance of current account, trade account, population, unemployment, etc. To have a better insight, the government budgets for the last 5 years were analyzed. The performance of different industries such as finance banking, oil gas, tourism, and trade was evaluated. Fiscal analysis was also conducted to understand how the government is assisting these vital sectors to boost the economy of the UAE. Finally, based on the analysis, the future economic condition of the UAE was forecasted.The United Arab Emirates (UAE), a federation of seven Arab emirates is one of the richest oil reserves in the world. It is situated in the southeast of the Arabian Peninsula in Southeast Asia. Oman and Saudi Arab are its neighboring country. The UAE includes seven emirates countries. they are Dubai, Abu Dhabi, Sharjah, Ajman, Ras al-Khaimah, Fujairah and Umm al-Quwain. Abu Dhabi is the largest emirates state followed by Dubai. The total area of the UAE is around 82,880 sq. km. and the Abu-Dhabi is the capital and the largest city (U.S. Department of State, “Profile”).The geographical location of Abu-Dhabi (along the coast) proved to be its greatest advantage with traders visiting this place since time immemorial. During the sixteenth century, the Portuguese started trading and established a stronghold in this region. However, the increase in trade also resulted in increased piracy that affected the trade and business of this region. Despite the potential threat, the place did not lose its charm as an attractive business destination and in the eighteenth century, the British laid their foot on this land. The British were responsible for ending the piracy.