Cover of The Report: Abu Dhabi 2019

The Report: Abu Dhabi 2019

Abu Dhabi is the largest of the seven emirates that comprise the UAE, in terms of both its land mass and economy, and home to the majority of the country’s energy production and reserves. While the emirate is home to the world’s sixth-largest proven oil reserves, financial buffers have helped it diversify and yield steady non-oil revenues.

Despite lower external demand and a sharp drop in oil prices from mid-2014, Abu Dhabi’s economy has remained resilient, growing by 9.5% in 2017. The emirate is working to consolidate government spending and reshape the economy through a decreased reliance on oil and gas, investing in areas such as research and development, technologically advanced manufacturing and other high value-added industries that are not necessarily labour intensive. The drive to diversify has resulted in higher levels of focus on both non-conventional hydrocarbons and downstream capacity, as well as in increased participation from an increasing selection of global partners. Centred on the Abu Dhabi Economic Vision 2030, the emirate has made important strides towards securing its growth plans amid global and regional risks, and ensuring wealth for future generations.

 

OBG & UAE: Abu Dhabi