تقرير عن الامارات
العربية المتحدة بالانجليزي اسماء الامارات مدن الامارات
تعبير عن السياحه
تقرير قصير تعبير عن دوله
بالانجليزي تعبير بالانجليزي
عن زيارة دولة
تعبير عن رحله
تقرير انجليزي
عن الامارات معلومات عن دولة الإمارات بالإنجليزي
دولة الإمارات
العربية المتحدة المعاصرة
Economy of the United Arab Emirates
Long based on the Bedouin caravan trade, then on the cultivation of
spices, incense, and finally on the export of pearls, the economy of the United
Arab Emirates is today largely based on oil.
Interestingly, the financial mechanisms of the United Arab Emirates
are very different from those that can exist in Europe for example.
Oil in the United Arab Emirates
The oil, discovered at the end of the 60s, is the main natural
resource of the Emirates, with gas. It is the emirate of Abu Dhabi that has
almost all the resources in "Oil and gas".
The United Arab Emirates exports about 2 million barrels of oil a
day, and this figure is expected to nearly double in 2030 (according to
government forecasts). At about $ 75 per barrel, that makes a relatively
comfortable income of $ 150,000,000 a day. Yes, you read correctly ! That's
close to $ 2,000 per second. A nice sum ...
And this is not about to stop. The United Arab Emirates' reserves
are the third largest in the world and are expected to last at least 80 years
(110 years at the current rate, which is expected to accelerate). With a price
per barrel expected to increase, it gives income that would make Bill Gates
turn his head himself.
Much of this money goes to Abu Dhabi's ruling family, the Al Nahyan
family, who redistributes the money, fueling the country's economy.
Redistribution of oil money
The Al Nahyan family does not keep everything for themselves, you
can imagine. It redistributes the wealth of black gold to its compatriots by
various means. Official statistics on exact oil revenues and redistribution
mechanisms do not exist, but it is possible to get an idea of them.
Each Emirati receives from the government a monthly pension of
about $ 4000 a month, supplemented by an allowance to pay for a vehicle. For
each wedding (since a man can get married up to 4 times), the family receives a
bonus of $ 25,000 and a villa as a gift. The couple also earns a bonus for each
birth.
Of course, you must have the Emirati nationality to be able to
benefit from these premiums, and this nationality can not be acquired otherwise
than by marrying an Emirati for a woman.
At the level of the institutions, the Al Nahyan family
redistributes a large proportion of its wealth to the other Emirates, including
the United Arab Emirates, as well as to the various government institutions.
investments
The Emiratis realize that oil is not eternal (unlike diamonds,
which they also appreciate a lot), and do not wish to return to their pre-oil
condition.
To avoid being bereft when the kiss comes, they invest their money
massively, through powerful sovereign wealth funds. These funds, generously
endowed, buy massively apartments, companies, factories, treasury bills,
football clubs ... everywhere in the world, and especially in Europe. New York,
London and Paris are among their favorite places to buy buildings, which they
then re-rent.
Once again, official statistics are very rare on the subject, but
it is estimated that today, Emirati investments earn them almost as much as the
extraction and export of oil, a little more than 100 million dollars per day.
This is indeed enough to pass unexpected difficulties unexpectedly.
Diversification
of the economy
Apart
from investments abroad, the United Arab Emirates also wants to diversify their
economy. Their stated objective is to increase the share of oil in GDP to 40%
(against more than 60% at the moment).
Among the
favored sectors are metallurgy (the UAE wants to become the world's third
largest producer of aluminum by 2025), automotive, aeronautics, education (New
York University and Sorbonne Abu Dhabi have opened recently their doors), the
media, and to a lesser extent, tourism.
Despite
this desire to diversify, the economy remains very closely linked to oil, if
only because a large number of the sectors mentioned above (metallurgy,
automotive and aeronautics in particular) remain closely linked to price and
the availability of oil resources.
Dubai
Economy
Dubai, as
the main rival of Abu Dhabi, wanted to really exist against Abu Dhabi. Having
very little oil, it was necessary to find another way to exist.
Apart
from trade, it is tourism, and especially luxury tourism, which have been
chosen as a center of activity. This strategy worked well at first.
To
attract more investors the dubai government has decided to open the housing
sector to foreign investment. These foreign investments have been the gateway
to significant speculation, giving rise to a major housing crisis. With the
financial crisis passing through, the economy of Dubai was hit hard, and he had
to rely on the help of his wealthy neighbor to recover. For more information,
read our article on the crisis in Dubai.
However,
since 2012, the Dubai economy is slowly, but surely. That said, many crazy
projects will probably never leave.
The North
Emirates
The
Northern Emirates do not have the chance of Abu Dhabi; they do not have oil.
Today, the Northern Emirates live thanks to the generosity of the emirate of
Abu Dhabi, which has almost everything (water companies, electricity ...). Only
Sharjah is a bit of resistance, and refuses help from the capital. Because this
help is money, of course. All these negotiations are underground, but you can
imagine that the generosity of Abu Dhabi is not completely without
compensation.
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