ABU DHABI’S MAJOR INVESTMENT DRIVE MAPPED OUT IN 2016 ECONOMIC REPORT

A new report on Abu Dhabi just produced by the global publishing, research and consultancy firm Oxford Business Group (OBG) charts the advances made across the non-hydrocarbons sector of the emirate’s economy in a climate of low oil prices.

The Report: Abu Dhabi 2016 looks in detail at the areas of the economy that have been identified as drivers of economic growth, including tourism, research and development (R&D), logistics, aerospace and health. The publication also explores the key role that foreign trade looks set to play in supporting Abu Dhabi’s GDP expansion, fuelled in part by stronger ties between the Gulf and emerging-market economies.

The Report: Abu Dhabi 2016 contains a detailed, sector-by-sector guide for investors, alongside interviews with leading representatives, including HH Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs.

The Ruler’s Representative in the Western Region HH Sheikh Hamdan bin Zayed Al Nahyan, the Minister of Education HE Hussain Al Hammadi, the Chairman of the Abu Dhabi Department of Economic Development HE Ali Majed Al Mansoori and the CEO of Abu Dhabi National Oil Company Dr Sultan Al Jaber, HE Khaldoon Al Mubarak, CEO of Mubadala, are among the other personalities interviewed in The Report: Abu Dhabi 2016. International representatives who also give their views on the emirate’s economic development include David Cameron, UK Prime Minister, Xi Jinping, President of China and Jim Yong Kim, the President of the World Bank Group.

OBG’s latest report considers the boost that high-profile sporting and conference events have given Abu Dhabi’s expanding tourism industry, resulting in the highest room occupancy rates on record. There is also coverage of the emirate’s plans to invest heavily in education, in line with its target of building a knowledge-led economy.

With oil prices beginning to edge upwards once again, The Report: Abu Dhabi 2016 highlights the emirate’s latest plans for its hydrocarbons industry, which include making offshore oil account for around half of production and targeting improved recovery rates through new techniques.

Other topics analysed include Abu Dhabi’s continued investment in aerospace, which has cemented its position as a key regional player in defence and security. The Report: Abu Dhabi 2016 also maps out the emirate’s ambitious plans to strengthen its role as a global logistics and transport centre.

Andrew Jeffreys, OBG’s CEO and Editor-in-Chief, said that Abu Dhabi’s strategy of using revenues from hydrocarbons to broaden its economic base was clearly yielding results.

“Broader growth not only illustrates Abu Dhabi’s commitment to its long-term development plan, Economic Vision 2030, but has also provided a welcome buffer against declining oil prices,” he said. “With a healthy pipeline of infrastructure, transport and tourism projects still ongoing, the emirate is laying solid foundations for the decades to come.”

OBG’s Managing Editor for the Middle East, Oliver Cornock, agreed that downstream developments were a highlight of 2015.

“While last year brought challenges, Abu Dhabi’s strategy of nurturing sectors that are ripe for growth will be viewed positively by investors,” he said. “A combined approach of maintaining investment in hydrocarbons, while at the same time sharpening the focus on innovation bodes well for the next phase of the emirate’s development.”

The Report: Abu Dhabi 2016 marks the culmination of a year’s work of field research by a team of analysts from OBG. The report assesses trends and developments across the economy, including macroeconomics, infrastructure, banking and other sectoral developments and is available in print and online.