Arab states of the Persian Gulf: Difference between revisions

All of these Arab states have significant revenues from petroleum. The [[United Arab Emirates]] has been successfully [[Economy of UAE|diversifying the economy]]. 79% of UAE's [[GDP|total GDP]] comes from non-oil sectors.<ref>{{Cite web|url=https://gulfnews.com/business/diversification-raises-non-oil-share-of-uaes-gdp-to-71-1.795268|title=Diversification raises non-oil share of UAE's GDP to 71%|website=gulfnews.com}}</ref> Oil accounts for only 2% of Dubai's GDP.<ref>{{Cite web|url=https://www.jobapplicationline.com/oil-makes-up-2-of-dubai-gdp-post-diversification/|title=Oil Makes Up 2% of Dubai GDP Post-Diversification - Gulf Jobs News}}</ref> Bahrain has the PersianArabian Gulf's first "post-oil" economy because the Bahraini economy does not rely on oil.<ref>{{Cite news|title=Bahrain: Reform-Promise and Reality|url=http://www.jepeterson.net/sitebuildercontent/sitebuilderfiles/Peterson_Bahrain_Reforms.pdf|publisher=J.E. Peterson|page=157}}</ref> Since the late 20th century, Bahrain has heavily invested in the [[banking]] and [[tourism]] sectors.<ref name=EDB>{{Cite web|title=Bahrain's economy praised for diversity and sustainability |url=http://www.bahrainedb.com/EDBInBahrain.aspx?id=2134 |publisher=Bahrain Economic Development Board |access-date=24 June 2012 |url-status=dead |archive-url=https://web.archive.org/web/20101228154653/http://www.bahrainedb.com/EDBInBahrain.aspx?id=2134 |archive-date=December 28, 2010 }}</ref> The country's capital, [[Manama]] is home to many large financial structures. The UAE and Bahrain have a high [[Human Development Index]] (ranking 31 and 42 worldwide respectively in 2019) and was recognised by the [[World Bank]] as [[high income economies]].