According to a recent survey, the UAE has been ranked as the second most stable economy in the world because of its many entrepreneurial prospects, easy access to finance, skilled labour force, adaptability, competitiveness, and robust commerce, among other factors. The UAE has the most competitive economy in the Arab world with a per capita gross domestic output that is comparable to that of the most prosperous countries in Western Europe, according to US News & World Reports. The UAE has a per capita income of $87,729 and a total GDP of $508 billion (Dh1.86 trillion).
In addition to supporting new economic sectors and embracing the Fourth Industrial Revolution and advanced technologies to boost research capacities, ensure future industries, and attract foreign direct investments, the second-largest economy in the Gulf Cooperation Council (GCC) region aims to reach Dh3 trillion by 2030.
According to official data, the GDP of the United Arab Emirates increased by 7.9 percent to Dh1.62 trillion at constant prices in 2022. With a rise of 22.1 percent, the economy reached Dh1.86 trillion at current prices in 2022, up more than Dh337 billion from 2021. The United Arab Emirates is home to some of the biggest sovereign wealth funds globally, including Abu Dhabi Investment Authority, Mubadala, Investment Corporation of Dubai, Dubai World, ADQ, and others. These funds manage trillions of dirhams' worth of assets, serving as a buffer against global economic fluctuations.
