📄 Abstract
This review explores the major economic challenges currently facing the UAE. Monopoly power in key sectors like telecommunications and energy restricts competition, leading to higher consumer prices and less innovation. Economic inequality is rising, driven by stark contrasts between high-earning expatriates and low-wage migrant workers. Migrant labor, essential to the UAE?s economic growth, presents social and economic challenges, including wage disparities and limited labor rights. Housing prices, especially in Dubai, remain a concern due to fluctuations and issues of affordability. Despite efforts to diversify its economy, the UAE?s heavy dependence on oil leaves it vulnerable to global market shifts. Additionally, rapid urbanization has raised significant environmental concerns, including pollution and resource depletion, prompting the need for sustainable development. Together, these interconnected issues present long-term challenges for economic stability and social development in the UAE.
🏷️ Keywords
📚 How to Cite:
Aiden Frederick Menezes , A REVIEW OF ECONOMIC PROBLEMS FACING THE UAE , Volume 12 , Issue 9, october 2024, EPRA International Journal of Economic Growth and Environmental Issues (EGEI) , DOI: https://doi.org/10.36713/epra18654