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Downtown Dubai at night. The economy of Dubai represents a per capita gross domestic product as of 2022 of US$46,665. [1] Dubai has substantially transformed over the last couple of decades. [2] More than 90% of the population are foreigners. [2] The International Herald Tribune described it as "centrally-planned free-market capitalism". [3]
The UAE's economy is the 4th largest in the Middle East (after Turkey, Saudi Arabia and Israel ), with a gross domestic product (GDP) of US$415 billion (AED 1.83 trillion) in 2021-2023. [1] The UAE economy is heavily reliant on revenues from petroleum and natural gas, especially in Abu Dhabi. In 2009, more than 85% of the UAE's economy was ...
Dubai ( / duːˈbaɪ /, doo-BYE; Arabic: دبي, romanized : Dubayy, IPA: [dʊˈbajj], Gulf Arabic pronunciation: [dəˈbæj]) is the most populous city in the United Arab Emirates (UAE) and the capital of the Emirate of Dubai, the most populated of the country's seven emirates. [7] [8] [9] Founded in the 1800s as a fishing village, Dubai has ...
The UAE has 7% of global proved oil reserves, about 100 billion barrels. [1] Primary energy usage in 2009 in the UAE was 693 TWh and 151 TWh per million persons. [2] The UAE is currently transitioning from an electricity generation system nearly 100% powered by gas power plants (2010) to 100% powered by solar, other renewables and nuclear in ...
according to International Monetary Fund estimates [n 1] [1] Countries by estimated nominal GDP in 2024. [n 2] > $20 trillion. $10–20 trillion. $5–10 trillion. $1–5 trillion. $750 billion – $1 trillion. $500–750 billion. $250–500 billion.
In 1973, the UAE adopted the UAE dirham as its currency. Abu Dhabi adopted the UAE dirham in place of the Bahraini dinar, at 1 dinar = 10 dirhams, while in the other emirates, the Qatar and Dubai riyal were exchanged at par. Coins. In 1973, coins were introduced in denominations of 1, 5, 10, 25, and 50 fils and 1 dirham.
In 2018, the country topped the list for the fourth year in a row with a total spend of $30.82 billion, a 3.8% increase over 2017 ($29.70 billion). The average spend per day was $553. [14] In 2019, Dubai attracted a total of 16.73 million tourists, which was an increase of 5.09% on the previous year.
Total installed solar power capacity in the UAE was over 5 gigawatts (GW) after switching on the 2 gigawatt (GW) Al Dhafra solar project in November of 2023, up from 133 MW in 2014. [3] Solar energy provided 4.5% of national electricity generation in the UAE in 2022, compared to 0.3% in 2014. [4]