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GDP
2022: GDP size forecast - $0.50 trillion
2021: GDP size - $0.41 trillion
Oil and gas production
2024: Plan to increase oil production to 5 million barrels per day shifted by a year
In May 2024, the UAE is expected to reach its oil production target a year later than forecast.
Abu Dhabi National Oil Co. is likely to reach its target of 5 million barrels per day by the end of 2025 or early 2026.
2022: Increased capacity for oil production and LNG exports
The UAE is accelerating a plan to boost its oil production capacity by trying to profit from its crude reserves before the energy transition begins, sources said in September 2022.
Abu Dhabi National Oil Co., which pumps nearly all of the UAE's oil, wants to be able to produce 5 million barrels a day by 2025. This is earlier than the previously announced goal of 2030.
2021
2018
Eighth country in the world in confirmed oil reserves
Natural gas reserves
Financial system
National debt
2023: State debt - 30% of GDP
Sovereign Wealth Fund
2023: Sovereign Wealth Fund Assets - $993 billion
2022: Sovereign wealth fund assets per capita
Banking system
2019: $0.5 trillion in accounts of foreign individuals
Wealth management of wealthy people
2023: Wealthy people set up 5,000 companies in Abu Dhabi to manage their funds
For decades, many of the world's richest people have preferred to keep their assets abroad - from the Cayman Islands to Switzerland to the British Virgin Islands. However, the new wealth center is becoming increasingly popular among billionaires - the skyscraper-strewn emirate of Abu Dhabi.
Changpeng "CZ" Zhao, the Indian Adani family, hedge fund billionaire Ray Dalio and Russian steel tycoon Vladimir Lisin are among dozens of wealthy individuals who set up special purpose companies in Abu Dhabi's international financial hub in 2023, according to a Bloomberg News review of hundreds of corporate documents in the UAE.
According to reports, more than 5,000 SPVs were created in Abu Dhabi, while in 2016 there were only 46.
Cryptocurrencies
2024: In the UAE, the number of cryptocurrency transactions for the year soared by 42% thanks to Russians
In the period from July 2023 to June 2024, the number of cryptocurrency transactions in the UAE jumped by 42% on an annualized basis. This is stated in a study by Chainalysis, which TAdviser got acquainted with at the end of January 2025.
It is noted that the UAE crypto industry is showing rapid growth. This is due to a combination of regulatory innovations, institutional interest and expanding market activity. In the period from July 2023 to June 2024, the UAE received more than $30 billion in cryptocurrency, which put the country in the Top 40 in the world in this indicator and made it the third largest crypto economy in the MENA region (Middle East and North Africa).
In the
Unlike most countries in the world, as the study says, crypto activity in the UAE is growing in all ranges of transaction amounts. This "testifies to the balanced landscape" of the local crypto-asset market. In the UAE, cryptocurrency transactions worth less than $1,000 and $1,000 to $10,000 year-on-year rose more than 80%. The number of large (from $10,000 to $1 million) and institutional (from $1 million to $10 million) transfers rose by 46.3% and 55.07%, respectively.
The study highlights that the country boasts a diversified cryptocurrency ecosystem. Crypto investments are also growing rapidly, and numerous venture capital funds and blockchain companies are opening representative offices in the UAE. Citizens of the Russian Federation are showing significant interest in the local market. Popular among Russians, the Bybit trading platform has obtained permission to work in the UAE. UAE investors favor stablecoins. In the country, bitcoin accounts for 16.5% of the volume of cryptocurrencies received, while the share of stablecoins is more than half - 51.3% (from July 2023 to June 2024).
 | As global cryptocurrency markets expand, governments are working to create regulatory requirements that balance innovation with the necessary safeguards. The UAE is at the forefront of this effort, the report said.[1] |  |
2019: Creation of Aber cryptocurrency with Saudi Arabia
In late January 2019, Saudi Arabia and the United Arab Emirates (UAE) announced the creation of a joint cryptocurrency called Aber, which should facilitate financial settlements between the countries. Read more here.
Investment abroad
2024: $35 billion investment in Egypt
The main purpose of the transaction is the undeveloped Mediterranean coastline. Egypt However, huge financial injections also speak to Abu Dhabi's strategic goals.
By investing the equivalent of 7% of its GDP, the UAE is showing a combination of financial power with geostrategic goals, signalling a commitment to playing a key role in shaping events in the region and beyond.
2023: The rise of investment in Africa
Seeking geopolitical influence, the UAE in 2021 made a promise to actively develop markets that go beyond their usual horizons.
They have since invested more in Africa's economy than any other country and are now competing for influence with established players such as China and France.
2020: China and UAE lead Africa investment
Power
2023: UAE launches world's largest solar farm
On November 16, 2023, the UAE commissioned the world's largest solar farm, the Al-Dafra site, which is located approximately 35 km from Abu Dhabi. The capacity of this power plant is 2 GW, which is enough to meet the energy needs of almost 200 thousand average households. Read more here.
2020: Very high per capita energy consumption
and
Foreign trade
2024: Multiple increase in imports from Armenia due to restrictions in Russia's trade
2019: Computer Device Exports
Business
2022
1,000 Russian companies opened in UAE in a year
In 2022, about 1,000 Russian companies were opened in the United Arab Emirates (UAE). Such data in October 2023 was cited by Tatyana Dolyakov, director of the recruiting company Propersonnel.
| | Emirates is a country where the economy is now very actively developing and where there are not enough people. We do not even take geopolitics - it turned out economically that we were "deployed" there. This is a new opportunity to work, to bring your knowledge there, "she said (quoted by Kommersant). | |
According to the head of Propersonnel, thanks to the "cultural code," companies opening in the UAE hire Russian-speaking top managers. The newspaper also cites Nikoliers data, according to which from the beginning of 2022 to September 2023, 24 Russian brands from non-food retail and catering entered the Dubai market, another 24 brands planned to open for the next two years.
The high activity of Russian brands in Dubai is associated with the interest of business owners in geographical diversification, a high standard of living in the emirate, a large share of Russian tourists and relocants, who have a need primarily for familiar and recognizable brands, says Nikoliers partner Andrei Kosarev.
| | Most Russian operators entering the UAE market primarily consider Dubai, which, due to its competitiveness and exactedness, is a guideline for other countries in the region. On the brand, which successfully went there and comprehensively solved the issues of quality, marketing, logistics, personnel, etc., a certain quality mark is put, which in the future can become an excellent springboard for international expansion - both to other markets of the Persian Gulf countries, and even wider, - he notes.[2] | |
700 Russian enterprises opened a second legal entity in the UAE in 9 months
Russian companies massively register business in the Arab Emirates. From the end of February to the end of September, 700 Russian enterprises opened a second legal entity in the UAE, which is 5-7 times more than a year ago. The opening of a second legal entity is necessary to maintain business ties with unfriendly countries. However, it is becoming increasingly difficult for entrepreneurs with a Russian passport to open accounts even in friendly and neutral countries.
Transport
2023: Construction begins on 1900 km long submarine railway to India
In early October 2023, the UAE began implementing a large-scale and expensive project to build an underwater railway to India. A high-speed line of approximately 1,900 km will connect Dubai and Mumbai.
The initiative involves the UAE National Advisory Bureau. The railway line will run inside the tunnel at an unnamed depth. Some of its sections are planned to be transparent, thanks to which passengers will be able to admire seascapes and underwater inhabitants.
The project will require the creation of a special train. It is assumed that it will be able to reach speeds from 600 to 1000 km/h: thus, a trip from Dubai to Mumbai or in the opposite direction will take only about two hours. For comparison, an airplane flight between these cities lasts approximately three hours. According to available information, the underwater train will use advanced magnetic levitation (maglev) technology, similar to that used in high-speed trains in Japan and China. Investment in the construction of the line has not been disclosed, but it is estimated that it will amount to several billion dollars. Engineers have to solve a lot of technical difficulties. It will take at least seven years to deploy the underwater railway track.
The initiative is considered not only as an alternative mode of transport for citizens who do not want to use the services of air carriers. For Dubai, the creation of the line will help in expanding bilateral trade relations with India. Underwater trains can transport oil, fresh water and other cargo. Due to the high speed of movement, delivery will be carried out as quickly as possible. The new line is expected to have a significant impact on cooperation between the two countries.[3]
R&D
2020: R&D spending - $4.2 billion
Tourism
2024: Growth of Russian tourist flow to 2 million people
In 2024, the UAE received 2 million tourists from Russia, which was a record figure in recent years. According to Denis Manturov, First Deputy Prime Minister of Russia, who heads the Russian delegation to the Emirates, the flow of travelers has increased significantly amid the expansion of transport links. The number of regular flights between countries increased 1.5 times, which provided additional opportunities for tourist flow. The official announced this on February 16, 2025.
According to the press service of the Russian government, 2024 thousand UAE citizens visited Russia in 67, which indicates the growing interest of Emirati citizens in the country.
Between the cities of Russia and the UAE there are more than 300 regular passenger flights per week on 25 routes. Direct flights to Dubai and Sharjah are operated by more than 10 Russian cities.
The press service of the tour operator Space Travel noted that the volume of air transportation in the UAE significantly exceeds the pre-pandemic indicators.
The expansion of the flight geography includes new arrival airports:
- Dubai.
- Sharjah.
- Ras al-Khaimah.
The dynamic development of tourism cooperation was discussed at a meeting between UAE President Mohammed bin Zayed Al Nahyan and Denis Manturov, where issues of trade, economic, cultural and humanitarian interaction were considered.
Space Travel predicts that the UAE will become the leading destination in the 2025 winter season, surpassing Thailand and Egypt in terms of air travel. This can positively affect the development of tourism in neighboring countries - Qatar, Bahrain and Oman.
Tour operators point to the possibility of an oversupply of air travel during certain periods, which can lead to lower ticket prices. The direction is widely represented in the portfolio of most major players in the tourism market.[4]
2022
The number of trips of Russians doubled
According to the FSB Border Service for 2022, the Russians made 1.2 million trips to the country. This is twice as high as 2021 and 21.2% more than before the COVID-19 coronavirus pandemic in 2019. Such data were released in April 2023.
According to updated data, which Association of Tour Operators of Russia (ATOR) refers to statistics, in UAE 2022, 1.1 million Russians left the clean zone of the country's airports, which puts the Arab state on the second line in popularity after. Turkey The most beloved emirate was, in Dubai 2022, 758 thousand Russians visited it - here travelers from Russia steel fifth, losing (1.8 India million), (1.3 To Oman million), (1.2 Saudi Arabia million) and (1.043 Britain million).
It is noted that in 2022 Abu Dhabi received 200 percent more Russians than a year earlier - 74 thousand people. The emirate of Ras al-Khaimah was visited by a record 107 thousand Russian tourists - Russia took the lead in the number of travelers. The final tourist flow to Sharjah is estimated at 120-130 thousand people, data on Fujairah and Ajman are not presented, but, presumably, their volumes are less than in Abu Dhabi.
The company "Russian Express" said that the direction has ceased to be seasonal. "In the summer of 2022, we sent the largest number of tourists to the UAE in the history of sales of the summer Emirates. Of course, this is due to the fact that the list of foreign countries available for recreation has become very small. But the fact that Turkey, traditionally popular with our tourists, has greatly raised prices also played a role, "ATOR reports.
Experts believe that the UAE will retain second place in 2023, as Thailand lacks the volume of transportation, and Turkey remains an uncontested direction.[5]
More than 1 million tourists from Russia
The tourist flow between Russia and the UAE in 2022 exceeded the pre-pandemic level and amounted to more than 1 million people. At the beginning of 2023, Russia and the Emirates connect more than 200 regular flights a week.
2020: Dubai introduces special visa programme for pensioners
Since 2020, any pensioner over 55 years old can use the special Retirement in Dubai program, designed for pensioners from all over the world. The visa for pensioners will be valid for five years. You can apply for a visa on a website specially created for the program.
One important condition: a pensioner must be quite wealthy - have a monthly income of at least 20,000 dirhams (slightly more than USD 5.5 thousand) received from investments or pensions, or have one million dirhams in a bank account, or own real estate in Dubai worth from two million dirhams (about USD 550 thousand).
The program has been running since September 2, 2020.
2017: Tourists spend $21bn in the country
Consumption
2023: Poultry meat is the most consumed type of meat
2019: Poultry meat is the most consumed type of meat
2018: Minimum age to purchase alcoholic beverages - 18 years
See also
Notes
- ↑ Middle East & North Africa: Regulatory Momentum and DeFi Fuel Adoption
- ↑ 1,000 Russian companies opened in UAE in a year
- ↑ The UAE wants to build an underwater bullet train to Mumbai
- ↑ President of the United Arab Emirates received First Deputy Prime Minister of Russia Denis Manturov
- ↑ Ethiopium for the People
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