Israel UAE | Business Guide | 2021

T hanks to Emirati oil reserves, the UAE is ranked among the ten richest countries in the world, with a GDP of $ 61 , 000 USD per capita. Despite the similarities in some economic indicators, there are significant differences in the Israel and the UAE: Unlocking Business Potential Among the economies in the Middle East, those of the UAE and Israel are the most developed. The two countries have many similarities including population size, GDP, growth rate, income levels, credit ratings, and USD exchange rates | Israel Export Institute action to reduce its dependency on oil through investments and technology. In 2018 , the UAEwas recorded as the largest investor amongcountries in the Middle East and the second largest recipient of incoming investments. The annual average of foreign investments from the UAE, in the past five years, has been $ 14 . 5 billion USD, while incoming investments average $ 10 billion USD annually. According to a report published by the IVC, the majority of Emirati investments in hi-tech, in the past seven years, have been in information technology, telecommunications, Fintech, and health. In 2018 , the UAE invested 1 . 3 % of its GDP in research anddevelopment, still far from Israel’s annual investment of 5 %. The UAE and Israel are both among the highest-rankingMiddleEastern countries in international indices. In the World Economic Forum’s Global Competitiveness Index, the UAE and Israel rank 25 th and 20 th, respectively, among 141 countries. The indexevaluatescountries in twelve categories including, infrastructure, regulatory burden, financial stability, business innovation, workforce skills, economies of the two countries; the UAE economy depends on oil which is subject to price swings, and is based on state-owned companies, while most of Israel’s GDP comes from the private sector. In recent decades, the UAE has taken Population - in millions R&D expenditure % of GDP Corporate Tax (%) VAT (%) Dollar/LC Credit Rank (Fitch) Unemployment (%) Inflation Rate (%) Income Category 10-year avg. annual GDP growth (%) GDP per capita PPP,$ GDP, Bn$ Area (sq.km) 11 9 84 22 3 . 4 3 . 8 3 . 7 3 . 3 1 . 3 5 5 7 0 23 2 . 5 3 . 8 AA- A+ - 1 . 9 0 . 8 421 395 61 , 009 40 , 090 High income Israel-UAE > Business Guide > 2021 14 > General Information > Trade Potential