United Arab Emirates has become the wealthiest nation within the BRICS bloc. UAE now has an average per capita income of $103,500, more than double that of its closest rival, Saudi Arabia.
This is due to the country’s commitment to innovation and a pro-investment climate, which has attracted diverse investors, entrepreneurs, scientists, and researchers. What’s even more impressive is that the UAE is projected to experience a 95% increase in per capita income over the next decade, putting it alongside India and Saudi Arabia as one of the fastest-growing economies in the region.
With the inclusion of UAE into the BRICS bloc, alongside Saudi Arabia, Egypt, Iran, and Ethiopia, on January 1, 2024, the country’s stature as a global economic powerhouse is strengthened.
Dubai, a vibrant hub of commerce and culture within the UAE, is the third-richest city among BRICS cities, trailing only Beijing and Shanghai. An incredible 78% increase in wealth is projected between 2023 and 2033.
Other cities like Sharjah, Riyadh, and Jeddah are also emerging as critical players in the UAE and Saudi Arabia. Overall, the UAE’s economic growth and prosperity are inspiring, and it is exciting to see the country continue to make strategic investments and pro-innovation policies to maintain its position as a critical player in the global economy.
