Whether we call it a recession or not, one thing is sure, we are going through a severe economic crisis, which will be discussed (once over) in the Economics syllabus and debates, in coming years. In this global economic crisis, where the likes of United Estates or European economies are feeling the heat, United Arab Emirates economy continues to head into positive direction. All the economic indicators and reports are also confirming to the fact that there will be no slowdown in near future. Let's have a look at this thriving economy and the contributing factors.



Oil & Gas reserves:

UAE has almost 10 percent of world's oil (proven reserves), while the gas reserves amount to 4 percent of global reserves. According to UAE government portal, these reserves can last well over 150 years. Recently when soaring oil prices took a toll on all and sundry, this part of the world remained mostly unscathed. Among the seven estates, Abu Dhabi is the biggest producer, producing more than 80 percent of the total UAE oil and gas production. There's hardly any chance that oil consumption and demand will go down in future, so the black gold will continue to fuel economic growth of UAE.

Construction & Real Estate:

Dubai has done remarkably well as far as real estate market is concerned. Grand projects like ?The Palm?, ?Burj ul Arab? or ?The World? managed to draw investors from all over the world. Abu Dhabi and other estates are also working in this sector. The demand will be much stronger than the supply even after the completion of ongoing projects. Real estate investors are now much more interested in UAE real estate, after the credit crunch in US market, considering it a safer option than others.

High-Class Tourism Industry:

Biggest shopping mall, tallest building of the world, indoor ski resort, white beaches, deserts, man-made islands, some of the most luxurious hotels in the world, crime free environment, rich cultural heritage, international sports event, to sum up, UAE has got tourists attractions in abundance. Tourism industry contributes significantly in over all GDP of UAE and it will continue to do so in the coming years. Many development projects are in progress; world-class airports, bridges and other infrastructure programs are about to complete.

It's not that UAE is somehow immune to whatever happens globally, but with ample oil reserves, strong real estate market, foreign investments and an exuberant tourism industry, UAE is better equipped to put up with such situations.