After posting its deepest contraction since the 1980s in 2020, the UAE’s economy — the second largest in the Middle East — stabilised in 2021, as vaccine rollouts and a recovery in the global economy eased pressure on government finances.
The recovery is set to gain further momentum in 2022, on the back of higher oil revenues and improvements in tourism numbers, complemented by one of the world’s most advanced Covid-19 vaccination programmes. This is despite ongoing concerns over the country’s real estate sector.
