Economic Development

Planning and Economy

Providing a Platform for Economic Prosperity

In just 40 years, Abu Dhabi has developed from having no sealed roads and only a handful of permanent buildings to being one of the most important modern economic centres in the region and the world. This rapid growth is a reflection of the vision of the late Sheikh Zayed bin Sultan Al Nahyan who wisely invested the Emirate's oil and gas profits for the benefit and development of the country and its people. In 2005 the Abu Dhabi oil sector represented 67% of the Emirate's Gross Domestic Product (GDP).

Under the leadership of His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the United Arab Emirates and Ruler of Abu Dhabi, the Emirate has enjoyed rapid and sustainable growth that is expected to continue well into the years ahead.

While deeply appreciating the opportunities created by the oil and gas sector, the Government recognises the need to broaden and diversify the Emirate's economic success, and actively work to reduce the degree to which the economy of Abu Dhabi relies upon the upstream hydrocarbon sector.

The Department of Planning and Economy, with support from the Abu Dhabi Council for Economic Development and the Abu Dhabi Chamber of Commerce and Industry, is charged with providing for a dynamic, open and successful economy.

As part of this responsibility, the Department has a central role in the restructuring of government to achieve efficiencies and improve the overall operation of the economy, including via the outsourcing of a range of government services to more efficient private sector service providers.

The Department, together with the Abu Dhabi Council for Economic Development, will seek to create an ideal environment for local and foreign investment aimed at making the private sector the main driver of economic growth. In 2005, the private sector represented 17.8% of GDP, and much more ambitious targets have been set for the future.

Energy

Diversifying the Energy Sector and the Economy

Abu Dhabi is blessed with abundant hydrocarbon resources that have driven the rapid growth and development of the Emirate's economy. These resources will continue to provide investment, employment and industrial development in the region for a long time to come.

Abu Dhabi is a proven and reliable provider of energy to the global community. This continuing responsibility is a cornerstone of government policy.

However, under the guidance of His Highness Sheikh Khalifa bin Zayed Al Nahyan, Ruler of Abu Dhabi, a key objective of the Abu Dhabi Executive Council is leveraging the Emirate's strong hydrocarbon sector to stimulate and support broader economic diversification at the following two levels:

1. At the level of the energy sector, strengthening downstream production capabilities and expanding the proportion of value-added exports; and
2. At the level of the Abu Dhabi economy, diversifying into new industries on the back of ongoing performance in the hydrocarbon sector.

Abu Dhabi Tourism

Realizing Our Potential as a World Class Destination

Under the leadership of His Highness Sheikh Khalifa Bin Zayed Al Nahyan, President of the United Arab Emirates and Ruler of Abu Dhabi, the Emirate is embarking on an ambitious strategy to attract 3 million visitors per year by 2015.

Tourism is a critical element in the overall development of Abu Dhabi. It will stimulate and diversify the economy, generate new private sector opportunities, and elevate the Emirate's international standing.

To bring effect to this decision, the Abu Dhabi Tourism Authority (ADTA) was established by Law No. (7) of 2004. A statutory body, the ADTA has a wide range of responsibilities to execute and oversee the Emirate's bold strategy for the tourism industry.

Under the strategy, visitors will be drawn by what will be the region's most distinctive and comprehensive set of cultural institutions, by a large and diverse selection of luxury hotels, by its world-class airport and airline, by easy access to a complete range of convention and business services, by the serenity of its desert, by the beauty of its beaches, by its unique heritage and by the warm hospitality of the Arabian Peninsula.

Every aspect of the Emirate's tourism strategy and its implementation works towards the reputation of Abu Dhabi as an exclusive, high-end tourist destination: an idyllic place where the visitor can engage in world-class business and relax. Delivering the highest quality in travel, accommodation, tourist attractions and importantly, business facilities, is central to achieving that vision.