Presentation Transcript

1. United Arab Emirates
2. Location
3. History and Politics Government type: Federation with specified powers delegated to the UAE federal government and member emirates. 7 emirates- Abu- Dhabi (capital), Sharjah, Dubai, Quwayn, Ajman, Al Fujairah, Ra’s al Khaymah. It was colonized by UK and gained its independence in 1971. Chief of state : President Khalifa bin zayid since 2003, also the ruler of Abu Dhabi Vice President and Prime Minister : Muhammad Bin Rashid Al-Maktum since 2006. No political parties.
4. Dubai, prior to all the development in the 1990’s.
5. The Burj al-Arab hotel in Dubai. The worlds tallest hotel. Considered the only '7 star' hotel and the most luxurious hotel in the world. It stands on an artificial island in the sea.
6. Upon completion, the resort will have 2,000 villas, 40 luxury hotels, shopping centers, movie theaters, and many other facilities. It is expected to support a population of approximately 500,000 people. It is advertised as being visible from the moon
7. The World Islands. 300 artificially created islands in the shape of the world. Each island will have an estimated cost of $25-30 million.
8. The Burj Dubai. Construction began in 2005 and is expected to be complete by 2008. At an estimated height of over 800 meters, it will easily be world's tallest building when finished.
9. Ski Dubai, which is already open, is the largest indoor skiing facility in the world. This is a rendered image of another future indoor skiing facility that is being planned.
10. Dubailand. Currently, the largest amusement park collection in the world is Walt Disney World Resort in Orlando, which is also the largest single-site employer in the United states with 58,000 employees. Dubai land will be twice the size.
11. Hydropolis, the world's first underwater hotel. Entirely built in Germany and then assembled in Dubai, it is scheduled to be completed by 2009 after many delays.
12. The first moving building in the world will be built, where else, in Dubai, home to all the revolutionary architectural wonders in recent years. The "Dynamic Tower
13. UAE Population: 4,621,399 Population growth rate: 3.8% Religion: 96% Muslims,4% others Literacy: 77.9%
14. Population
15. Economy: UAE UAE’s economic strategy has been consistent in terms of maximizing the benefits of its oil and gas resources. Foreign investment is a key component of UAE’s strategy for economic growth. Example are the free trade zones. The UAE’s location in relation to the global capital markets make it a natural venue as a financial center. They are utilizing their revenues to create a socio-economic infrastructure that is less and less dependent upon oil or natural gas as the main source of income.
16. GDP GDP (purchasing power parity): $164.4 billion GDP- real growth rate: 7.5% GDP per Capita: $37,000 Unemployment: 2.4% Inflation rate: 14% Exchange rates: Emiratis Dirham's per US dollars -3.673
17. UAE’s GDP in comparison to other Asian countries
18. Inflation
19. GDP: UAE During the year 2007 GDP growth rate was 25.6 per cent at current prices, while real GDP growth was estimated at 7.5% per cent. Main components were : Strong oil market, Active development of public joint stock companies, Increased involvement of free zones Buoyant local stock markets, Launches of a number of significant new projects.
20. GDP Annual percent change
21. GDP
22. Current account balance
23. Oil & Natural Gases OIL Oil proved reserves:97.8 billion bbl Oil- Production: 2.51 million bbl/day Oil-Consumption:372,000 bbl/day Oil-Exports:2.54 million bbl/day Oil-Imports:137,000 bbl/day NATURAL GAS Natural gas- production:45.07 billion cu m Natural gas- consumption: 39.56 billion cu m Natural gas- Exports:6.848 billion cu m Natural gas- Imports:1.343 billion cu m Natural gas- proved reserves: 5.823trillion cu m
24. OIL & GAS Abu-Dhabi owns more than 90% of the UAE’s oil and natural gas resources, Dubai produces about 6% of the production. Sharjah is the hydrocarbon producer and on the east coast, Fujairah is the second largest bunkering port in the world handling about 1 million tons of fuel from neighboring countries every month. The oil and gas is handled by the Abu- Dhabi national oil company (ADNOC). The sharp rise in oil and gas prices in the world markets which began in 2004, continued through 2005 and much of 2008, resulted in higher than anticipated revenues from oil and gas sales.
25. Investment Stock of direct foreign investment-at home: $44.37 billion Stock of direct foreign investmentabroad:$14.14 billion While the foreign companies have been pursuing investment in UAE, several of the UAE’s private sectors and the government –owned investment institutions have been actively pursuing investments abroad. Its their form of savings for the future generations- who will one day face a depletion of the country’s energy resources. Abu- Dhabi Investment Authority’s reserves are as high as $500 billion, making it the second largest institutional investor in the world after the Bank of Japan
26. Inward Investment Stock of direct foreign investment-at home: $44.37 billion To attract foreign investment UAE has set up some areas known as the free trade zone . UAE currently has 23 free trade zones. These free trade may be under 100% foreign ownership, enjoy corporate taxes, no personal taxes and 100% import or export tax exemption, no currency restriction.
27. Outward investment Stock of direct foreign investmentabroad:$14.14 billion The UAE is an important participant in the global markets through several investment institutions like, the Abu Dhabi investment council, The Dubai Ports and free zone world, etc. The Abu Dhabi investment council was established in 2006 and all of its investments are to be tax exempted in the UAE. The council will use money set aside by the government for investment inside and outside the country. It will mainly be involved in launching major real estate and tourism projects.
28. Trade Economic Openness : 1571.275 UAE’s trade surplus for the year 2007 was- $550 billion Free trade is is the key factor behind the competitiveness and productivity. The UAE considers that high tariff barriers and technical barriers to trade would only result in stagnant and inefficient private sectors. The UAE has signed several free trade agreements, one such with the USA. The trade between USA and UAE amounted to $10 billion in 2005, making it the third largest US trading partner.
29. Trade:
30. UAE feels a chill as credit tightens The credit crisis is steadily reducing demand from buyers, who will have harder time getting mortgages. The shrinkage will be more severe if the financial crisis worsens here. Real estate prices and rents are widely expected to start dropping soon. Harming investor confidence, and jeopardizing Dubai’s long term ambition of becoming a financial capital.
31. conclusion The UAE is in the midst of an infrastructure boom. Virtually every economic sector is undergoing rapid development and expansion as they seek to lay solid ground work for future economic growth. Oil and gas production still remain hugely important to the UAE economy even as the country seeks to diversify into other economic sectors. The current crisis is jeopardizing their real estate plans with prices and rents dropping. This will certainly slow their economy . It is one of the best business platforms in the world and one of the most inviting environments in which to work.