Tourism minister Ahmed Al Khateeb says all the kingdom's projects are far away from the conflict
mena1 hour ago
The UAE has become the world's fifth richest country per capita measured by the value of its built environment according to the latest Global Built Asset Wealth Index published by Arcadis, the leading global Design & Consultancy firm for natural and built assets. The UAE makes up the top five behind Qatar, Singapore, Hong Kong and Japan, with built assets of $140,500 for every citizen.
The index, which was compiled for Arcadis by the Centre for Economics and Business Research (Cebr), calculates the value of all the buildings and infrastructure that contribute to economic productivity in 32 countries, which collectively make up 87 per cent of global GDP.
"The health and wealth of a nation can be measured in many different ways and while factors such as GDP or employment have great value, a prosperous society is underpinned by a well-developed built environment that meets the needs of its people and economy," said Alan Richell, head of Business Advisory in the Middle East at Arcadis. "To date, Dubai alone has built 190 skyscrapers since the millennium and is developing its economic diversification plans even further in sectors such as tourism, financial services and education."
Qatar and Singapore stand comfortably ahead of the pack on built assets per capita, at $198,000 and $192,000 respectively. The countries near the top of this ranking are disproportionately made up of smaller nations, either by population or area, so the density of the built asset stock is much greater per resident. Saudi Arabia, by comparison, has a smaller built asset stock per capita where its built asset wealth is spread amongst its large and growing population.
Total built asset wealth globally now stands at an estimated $218 trillion, which is the equivalent to $30,700 per person alive today. The stock of built assets is closely correlated with a nation's economic output. On average, countries analyzed have a built asset stock worth 2.9 times GDP. China now has a built asset wealth of $47.6trillion, overtaking the USA which comes in second place with a wealth of $36.8trillion.
- business@khaleejtimes.com
Tourism minister Ahmed Al Khateeb says all the kingdom's projects are far away from the conflict
mena1 hour ago
A wave of exceptionally hot weather has blasted the region over the past week, sending the mercury as high as 45 degrees Celsius
asia1 hour ago
This was following a Reuters report that some senior US officials did not find Israel's assurances credible
world1 hour ago
Chinese Premier Li Qiang promises to Musk that the country will always be open to foreign firms
auto2 hours ago
Prevailing market trends, investment opportunities and growth strategies instilling confidence in stakeholders navigating Dubai's dynamic landscape
realty2 hours ago
Both parties must be taxable; or become taxable as a result of the transfer
business2 hours ago
Israel's foreign minister says Rafah incursion could be suspended should a deal emerge to release the hostages
mena2 hours ago
The authority is currently taking measures to prevent any unsafe products from reaching the market
uae2 hours ago