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The Place
Abu Dhabi is the capital and second largest city in the United Arab Emirates.
Widely acknowledged to be the wealthiest of the Emirates, this cosmopolitan metropolis
has developed and urbanised to such an extent that it has become the Region leader
in a number of industries such as finance and education.
With 200 natural islands and 7.7km of coastline, making it the largest emirate by
land mass, Abu Dhabi holds a population of over 1.6 million which grows at an average
annual rate of 4.7%. Of this total population, approximately 80% are expatriates
from Asia, Africa, Australia, Europe and North America.
The Economy
Internationally renowned as a tax-free zone, Abu Dhabi stands as the largest growing
city in the UAE in terms of economic growth, and the wealthiest emirate of the UAE
in terms of GDP and per capita income.
The UAE is afforded one of the highest GDP per capita in the world due to its large
hydrocarbon wealth, and Abu Dhabi owns the majority of these resources – 95% of
the oil and 6% of the gas. In addition, the city also holds 9% of the world’s proven
oil reserves and nearly 5% of the world’s natural gas.
However, non oil and gas GDP currently represents 64% of the UAE’s total GDP, a
trend that is reflected in Abu Dhabi with substantial new investment in industry,
tourism, real estate and retail, and an emphasis on industrial diversification away
from the hydrocarbon sector. This drive is visible through many planned development
projects, including industrial free zones, an improved transport infrastructure
and an expanded airport.
Meanwhile, the Abu Dhabi Investment Authority (ADIA) remains the world’s wealthiest
sovereign fund in terms of total asset value, whilst Abu Dhabi plays host to important
financial institutions such as the Abu Dhabi Securities Exchange, the Central Bank
of the United Arab Emirates and the corporate headquarters of numerous multinational
companies.
The Lifestyle
The standard of living in Abu Dhabi is always guaranteed to be of a high quality,
where residents can enjoy a low crime rate, a range of luxurious amenities and a
multi-ethnic culture like no other in the world.
Abu Dhabi, despite being such a large and bustling city, is an exceptionally peaceful
and idyllic place, primarily due to the prominent local religious beliefs that influence
everything from the local dress code to the manner in which financial affairs are
conducted.
The local community are especially warm and hospitable people, although it is expected
that all residents respect the religious feasts and traditions that form the core
of the lifestyle.
Meanwhile, as the seat for the UAE Government and the home of both the ruling family
and President of the UAE, for expats Abu Dhabi affords an executive lifestyle like
no other.
The Prospects
Abu Dhabi, with its industrial and financial success is the perfect emirate in which
to build a financial career.
As the wealthiest emirate in the UAE, this remarkable city offers not only huge
earning potential but also a diverse range of clients, who enjoy some of the highest
incomes in the world.
Meanwhile, with 80% of the population currently expatriates from around the world,
the opportunities for doing business with would-be investors are endless.
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