UAE Economy

Working abroad sounds like an adventure to many people. However, the UAE job search requires more than just the obvious the UAE CV with the UAE cover letter writing and translation, it requires thorough preparation. You will experience problems that probably did not even come to your mind when you made a decision to find jobs in the UAE.

Do not take too lightly the influence a work in the UAE can have on the effect of your adventure! For instance, you will experience the different immigration rules and practices, strange job application procedures, unfamiliar job candidate selection criteria and out of the ordinary management culture.

Most visits to the UAE are trouble-free however, you should be aware of the risk of indiscriminate terrorist attacks, which could be against civilian targets, including locations frequented by expatriates and foreign travelers like restaurants, hotels, clubs and shopping areas.
You must exercise a high degree of security awareness due to deteriorating security situation and ongoing political tensions.
In recent years, the Emirati authorities have carried out many investigations and operations against terrorist networks.
Monitor local news broadcasts and consular messages. Ensure that your travel documents and visas are valid and secured in a safe place. Carry a photocopy of your travel documents rather than the originals. Maintain a low profile, vary times and routes of travel and exercise caution while driving. Making local contacts quickly and seeking support from other expatriates will greatly improve your comfort and safety.

The UAE Economy - overview: The UAE has an open economy with a high per capita income and a sizable annual trade surplus. Successful efforts at economic diversification have reduced the portion of GDP based on oil and gas output to 25%. Since the discovery of oil in the UAE more than 30 years ago, the UAE has undergone a profound transformation from an impoverished region of small desert principalities to a modern state with a high standard of living.

The government has increased spending on job creation and infrastructure expansion and is opening up utilities to greater private sector involvement. The country's Free Trade Zones - offering 100% foreign ownership and zero taxes - are helping to attract foreign investors. Higher oil revenue, strong liquidity, housing shortages, and cheap credit in 2005-07 led to a surge in asset prices (shares and real estate) and consumer inflation.

The global financial crisis, tight international credit, and deflated asset prices constricted the economy in 2009 and 2010.  The economy is expected to continue a slow rebound. Dependence on oil and a large expatriate workforce are significant long-term challenges. The UAE's strategic plan for the next few years focuses on diversification and creating more opportunities for nationals through improved education and increased private sector employment.

Labor force - by occupation: services 78%, industry 15%, agriculture 7% (2000 est.)

Unemployment rate: 2.4% (2001)

Natural resources: petroleum, natural gas

Industries: petroleum, fishing, petrochemicals, construction materials, some boat building, handicrafts, pearling

UAEcurrencyCurrency: UAE Dirham (AED) = 100 fils. Notes are in denominations of AED 1,000, 500, 200, 100, 50, 20, 10 and 5. Coins are in denominations of AED 1, and 50, 25, 10 and 5 fils (10 and 5 fils coins are rarely used).

Credit/Debit Cards and ATMs: All major credit and debit cards are widely accepted. ATMs are widely available.

Traveler’s Cheques: These are widely accepted. To avoid additional exchange rate charges, travelers are advised to take traveler’s cheques in US Dollars or Pounds Sterling

Exchange rates: Emirati dirhams (AED) per US dollar - 3.673 (2011 est.), 3.673 (2010 est.), 3.673 (2009), 3.6725 (2008), 3.6725 (2007), 3.6725 (2006), 3.6725 (2005), 3.6725 (2004), 3.67 (2002), 3.67 (2001), 3.67 (2000), 3.67 (1999), 3.67 (1998)

Inflation rate (consumer prices): 2.5% (2011 est.), 14.4% (2008 est.)

Other UAE Economy Info

To be successful in your UAE job search and getting job you want, you need prepare the UAE cover letter and the UAE CV which you must email instantly to the prospective employers selected during job search in the UAE.

When you receive an invitation to the UAE job interview, you may apply for the UAE visa and the UAE work permit. Then prepare yourself for a job interview and take a look at the UAE dress code because how you dress is the one of the most important attribute in not hired for available jobs.

Check the job interview do & don't, job interview tips and other job search skills pages.

In addition, on the international info, job search, visa, work permit, cover letter, CV & resume, job interview and dress code pages you will find many useful tips for overseas job seekers.

Good luck with the UAE economy info!