Sample Term Paper
The economical conditions of UAE have become quite strong as there is an abundance of natural resources like oil and natural gas. The economy of the Emirates depends heavily on oil and in recent years the emirates have seen a huge amount of inflows in the form of foreign investment especially in the oil and real estate sector. According to IMF UAE had a GDP of $164.2 billion and the estimated GDP of 2009 is $255 billion.
The IMF also indicates that the growth during 2007-08 was rather strong although the last quarter of 2008 witnessed decline due to the worsening global economic crisis (Imf.org, 2009). UAE also has a very high Human Development Index – HDI and is ranked 31 in all countries of the world in the United Nations Human development reports (Human Development Report Office – United Nations Development Programme, 2008).
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