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Abu Dhabi is home to the world’s sixth-largest proven oil reserves and is working to achieve self-sufficiency in natural gas. It has been successfully pursuing diversification, particularly in terms of manufacturing, banking and ICT. While the global Covid-19 pandemic and decline in international oil prices poses challenges for the emirate, the fundamentals underpinning its economy remain strong.
– Economies in the region were hit by reduced trade volumes and lower oil prices
– Governments launched extensive stimulus packages to stabilise their economies
– Short-term recovery will be tied to oil prices and the resumption of travel
– The pandemic looks set to accelerate economic diversification efforts
While many Gulf nations were already working to diversify their economies prior to the coronavirus pandemic, the subsequent economic downturn and collapse in oil prices has meant that governments in the region have had to reassess and – in some cases – accelerate their strategic plans.
THE ABU DHABI EDITION T: +971 2 208 0000 www.editionhotels.com/abu-dhabi email@example.com Rooms: 198 guest rooms and suites, with 90 deluxe rooms, nine deluxe marina rooms, 59 deluxe marina rooms with balconies, five loft rooms, 10 suites, 16 marina suites, seven premier marina suites, one marina penthouse and one...
ETIQUETTE & DRESS: Hospitality is a key part of Emirati culture. Long greetings before meetings – whether for business or socialising – are important. In Abu Dhabi it is common for men to shake hands in business settings, and exchanging business cards is fairly informal. However, it is not advisable to shake a woman’s hand unless...
In what ways has the cultural landscape of Abu Dhabi evolved over the years, and how has it impacted the business environment?
In September 2019 Hazzaa Al Mansoori, born in Al Wathba in Abu Dhabi, became the first Arab to visit the International Space Station (ISS) in an eight-day mission accompanied by two fellow crew members from Russia and the US. Al Mansoori’s successful journey captured the emirate’s imagination and helped raise the global profile of the UAE’s...
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