The United Arab Emirates: An Economic Role Model for the GCC

The United Arab Emirate\u27s (UAE) economic diversification efforts, both positive and negative, actual and proposed, should be used as a model for the other Gulf Cooperation Council (Oman, Saudi Arabia, Kuwait, Bahrain, Qatar and the UAE) members. A majority of the GCC countries rely heavily on oil and have underdeveloped non-oil sectors, the exception is the United Arab Emirates. The UAE began diversifying its economy long ago, and though oil is still the backbone of its economy, the non-oil sector is starting to successfully take shape. The other GCC members should use the UAE\u27s economic program as a model so economic stability will not falter when the oil reserves are depleted