What role did the scape play in the development of the u.a.e economy?
Answers
Answer:
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 based on the oil exports.Dubai has far smaller oil reserves than its counterparts. Tourism is one of the bigger non-oil sources of revenue in the UAE.
Answer:
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 based on the oil exports.[15][16] In 2011, oil exports accounted for 77% of the UAE's state budget.[17] In recent years, there has been some economic diversification,[18] particularly in Dubai. Abu Dhabi and other UAE emirates have remained relatively conservative in their approach to diversification. Dubai has far smaller oil reserves than its counterparts.[19]
Tourism is one of the bigger non-oil sources of revenue in the UAE. A massive construction boom, an expanding manufacturing base, and a thriving services sector are helping the UAE diversify its economy. Nationwide, there is currently $350 billion worth of active construction projects.[20]