2018 World’s Richest Arab League Countries

United Arab Emirates

The United Arab Emirates (UAE) started witnessing economic growth after its independence in the year 1971. In the year 2013, for example, the UAE saw an increase of 231 times to 1.45 trillion AED. The place has a higher transportation facility to facilitate trade and commerce. The great culture and economy associated with the country is a result of development in various sectors.

People living in the country benefit from world-class facilities and the revenues that trade and commerce generate to make the place ideal for business. Oil is among the principal sources of revenue. The other leading source of income is massive tourism.

credit: Wikipedia

Unlike other Arab countries, the United Arab Emirates has developed an economy independent of oil exports. As we have already said, the state has developed its major tourist attractions such as the Palm Islands and Burj Khalifa based on innovation and technology. It is among the few countries that have used the revenue from oil to develop more pillars for their economic stability. Some of the things that drive the economy are tourism, infrastructure, and oil. The GDP per capita of the country stands at $44500.