Brief Introduction to UAE

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  • 1. Introduction to UAE
  • 2. Agenda Demographics & UAE Consumption Economic Situation Relevant Local Aspects
  • 3. Agenda Demographics & UAE Consumption Economic Situation Relevant Local Aspects
  • 4. DemographicsSome Key Facts… Population in 2006: 5.63 million. Population estimated for 2010: 7.557 million. Census will be conducted in April 2010 Results from a survey conducted by Ministry of Economy in 2008 concluded that the average size of a household in the country in 2008 was 5.1 with UAE national households comprising 19.1%; expatriate households account for 80.9%. The Expatriate population mainly comprises of people from the Gulf region (Saudi Arabia, Yemen, Lebanon), Asian subcontinent (India, Pakistan, Bangladesh, Sri Lanka and Nepal), East Asian countries (China, the Philippines, Thailand etc) and Westerners (Europe, Australia, Britain etc.). UAE has been steadily witnessing low birth rate (2.56 children per woman). Life expectancy is now 76 years for women and 74 years for men.
  • 5. Income and economySome Key Facts… According to the Dubai Statistics Centre, Dubais inflation rate stood at 4.1 per cent in 2009 as compared with 11.3 per cent in 2008. Housing, water, electricity and gas price growth, accounting for the largest share of the Consumer Price Index (CPI) weight, stood at 2.4 per cent in 2009. The average monthly income for national households (Emiratis) is Euro 7,089.12 and expenditure is Euro 4,472.56, while non-national household income (Expatriates) is Euro 2,932.74 and expenditure is Euro 1,876.53. The percentage of expenditure on housing and utility was 39.4% of the total income, while expenditure on food and beverages was 14.2%. Conversion rate: 1 Euro = 5.14 UAE Dirhams
  • 6. Demographics and ConsumptionSome consumption facts UAE PC / laptop at 60.9% home 200% + Mobile phone 59% Credit card (2004 data) 55.4% Car (Estimated for 2009)
  • 7. The typical UAE citizens and residents
  • 8. The typical Emirati citizenValues of the SocietyMost Emiratis still value traditional things, perceive themselves as apart of «We are Arabs» culture, whereas others adopted somewestern values: like focusing on career, success andindependence.Women used to be in the subordinate positions, but it is changingnow. The large proportion of the Emirati women prefer to work.Their importance in the family (decision making) is increasing.There is a change of values especially in young generation (thosestraight out of college or still in college) towards more individualismand acceptance of women as being career oriented and moreindependent.
  • 9. The typical Emirati citizenFamily, Household and HospitalityThe overwhelming majority of Emiratis are family-oriented peopleand many parents support their kids after they have reached majority.“To be happy” means to have children and growing family.Leisure time (after work) is dedicated to the family and friends orfollowing sports.Generally, the Emirati society is characterized by strong family ties.In traditional households, women still have responsibility to maintainthe household. Slowly, the family values are shifting where both thepartners share responsibilities based on mutual understanding.The majority of the Emiratis see themselves as hospitable, althoughthey also prefer preserving their own privacy.
  • 10. The typical EmiratisWork and CareerFamily and stability are most important as well as loyalty toward the employer (often agovernmental organization).They prefer regular working hours and value recognition and things like Social provision Accommodation provided by the stateAttitudes towards work vary considerably among younger generation: They are constantly looking for a better position, are mobile and take risks. More and more young women becoming career-oriented.Young man and women highly appreciate: High evaluation of their efforts Self-realizationConnections/networking is extremely important in all spheres of life.
  • 11. Living conditionsHousing in UAE is on a par with the most developed areas in theworld.In Abu Dhabi alone, the government has built more than 35,000apartments which have been given to citizens through long-termsoft loans. The idea is that the citizens can lease theapartments in order to produce income.Housing at low- and controlled-rent has also been built all overthe country for both citizens and expatriates.Electric power stations and desalination plants, often fuelled bygas from the countrys oil fields, ensure a constant supply ofwater and electricity for residential, industrial or agriculturalconsumption.
  • 12. Living conditions for ExpatsMost of the Expatriates live in Flats/ apartments in Dubai, ensuring a personal space forthemselves and their loved ones.Expat Asian bachelors generally live in shared accommodation with colleagues or friendsdue to high cost of livingOf course, there is different housing according to economical status of habitants: Labor class living condition Middle class home Luxury living
  • 13. Leisure activities Main activities are as follows: Barbeque, sheesha Socializing (meeting friends and relatives) Getaway from all other activities Shopping/ visiting malls Sports activities
  • 14. Agenda Demographics and Consumption Economic Situation Relevant Local Aspects
  • 15. UAE economyGreat oil finds since the 1960s has brought UAE wealth and progress. Still, over the last 20-30 years,UAEs success in the Middle East is largely owned to a national focus on developing alternatives to theoil industries.This involves very successful programs to turn designated ports of the Emirates into trade centres,development of industries, refining of oil as well as land reclamation.In order to accommodate foreign investments, free zones like Jabal Ali have permitted extensive rights toforeign investors, like the right to 100% foreign ownership, absence of taxes and duties.UAE has 6 international airports. The busiest among them is Dubai, which served 18 million passengersin 2003, aiming at 30 million by 2010.Tourism has been strongly promoted especially since the mid-1990s, the number of visitors passed1 million in 1993.Emirati dirham was introduced in 1973 and was fixed to the US dollar in 1997.With the many young emirates graduating from higher education, a process of taking back the jobs tonationals is encouraged by the government. In particular have very few jobs in the private sector been on thehands of nationals.
  • 16. Economic Situation 2009 As on 30th December 2009High assessment of UAEs economicstrength on the countrys extensivereserves of hydrocarbon resources, highper capita income and large holdings ofoffshore financial assets.The countrys high GDP per capita of$36,000 (Dh132,228) is a key indicator ofits economic strength and capacity to meetdebt obligations.IMF expects UAE economy to return togrowth in 2010 by 0.6 percent, as Dubaiseconomy continues to contract. Thatwould compare with 6.1 percent and 5.1percent in 2007 and 2008, respectively.
  • 17. Other indicators of economy GDP composition by sector (2009 estimate): Services (50.2%), Industry (48.6%), Agriculture (1.1%) Inflation rate (consumer prices): 1.5% (2009 est.) and 15.8% (2008 est.) Unemployment rate: 2.4% (2001 est.)
  • 18. Agenda Demographics and UAE Consumption Economic Situation Local Aspects
  • 19. Local Aspects Dubai is the biggest of all the 7 emirates in UAE in terms of population size. The majority of residents (Expats) live in apartments or flats. The average income per one person in UAE now is: In private business: 1,500 $ per month In state organizations: 700 – 800$
  • 20. Snapshot
  • 21. Thank you