UAE becomes world’s second most economically stable country

The UAE is the world’s second-most stable country economically because of its entrepreneurial prospects, easy access to finance, the availability of a trained labor force, adaptability, competitiveness, and robust commerce, among other factors.

According to US News & World Reports, the UAE has a per capita GDP comparable to that of top Western European nations, as well as the most competitive economy in the Arab world.

The UAE’s overall GDP is $508 billion (AED 1.86 trillion), with a per capita income of $87,729.

The second-biggest economy in the Gulf Cooperation Council (GCC) area aims to achieve AED 3 trillion by 2030 through new economic diversification policies, including embracing the Fourth Industrial Revolution and applying sophisticated technology to expand research capacity, ensure future industries, and promote foreign direct investment.

According to official statistics, the UAE’s GDP in 2022 at constant prices would be AED 1.62 trillion, representing a 7.9% increase.

In 2022, the economy reached AED 1.86 trillion at current prices, a rise of more than AED 337 billion over 2021 and a 22.1% increase.

The UAE also possesses some of the world’s largest sovereign wealth funds, including Abu Dhabi Investment Authority, Mubadala, Investment Corporation of Dubai, Dubai World, ADQ, and others, which store trillions of dirhams in assets to offer a cushion against global economic instability.