The United Arab Emirates (UAE) saw a small rise in the contribution to its economy of the non-oil sector. In 2020 the non-oil sectors were 71.3% of GDP and in 2021 this rose to 72.3%. The biggest non-oil sectors were hotels, restaurants, retail and health and social services.
The UAE has aggressively worked to try and move the country away from its very heavy dependence on oil and to establish the UAE as a kind of ‘Singapore’ of the Middle East, a small country which punches far above its economic weight. As part of divorcing government income from oil, the UAE plans to introduce a tax on business profits for the first time in 2023.
Recent efforts to develop the UAE’s tech sector have seen the UAE heavily investing in artificial intelligence and funding a space programme.