Key Indicators of Economic Development in the UAE and Overcoming the Economic Recession Caused by the COVID-19 Crisis

Document Type : Research

Authors

1 PhD student of International Relations, Allameh Tabatabai University

2 Master of International Relations

Abstract

In recent years, the countries on the southern coast of the Persian Gulf have been making progress in various fields. Among them is the United Arab Emirates (UAE). The UAE, especially Dubai, ranks first globally in some development indicators. Along with other countries in the region like Qatar and Saudi Arabia, the UAE has responded to global trends and adjusted its relations accordingly. Therefore, by joining two major international and regional organizations, the World Trade Organization (WTO) and the Organization of the Petroleum Exporting Countries (OPEC), the UAE has sought to achieve economic development. Given its significant role in regional and trans-regional affairs, studying the economic development of the UAE and the key indicators that influence it is of great importance, particularly as the global pandemic posed a challenge to the country's economy. The aim of the current study is to examine the key indicators of the UAE's economic development and its recovery from the economic crisis caused by COVID-19, relying on neoliberalism theory. The main research question is: What are the key indicators of the UAE's economic development, and how have these indicators contributed to overcoming the COVID-19 crisis? The findings suggest that indicators such as GDP growth, non-oil revenues (including non-oil trade, tourism, and foreign investment), growth of the Human Development Index (HDI), innovation in business and industrial technologies, and low unemployment rates have contributed to the country's economic development. Economic development driven by these indicators has facilitated the UAE to navigate through the COVID-19 crisis. This study uses a descriptive-analytical method and relies on library research for its findings.

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References

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International Political Economy Studies
Volume 7, Issue 2
December 2025
Pages 97-116

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History

  • Receive Date: 10 December 2023
  • Revise Date: 29 April 2024
  • Accept Date: 08 October 2024

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