United Arab Emirates
Since the discovery of oil more than 30 years ago, the UAE has transformed itself from being a small state to a modern Arab state with high standards of living. It has an open economy, high per capita income, and a trade surplus. Due to early-on efforts of economic diversification, it has been able to reduce the portion of GPD from oil. Despite the imminent long term challenges, UAE has place education and private sector development in its agenda plate. As a result, the culture of entrepreneurship is mobilizing a larger mass of the work force to continue sustaining the Emirate state’s economy.