ECONOMIC DIVERSIFICATION THROUGH A KNOWLEDGE-BASED ECONOMY IN THE UNITED ARAB EMIRATES: A STUDY OF PROGRESS TOWARD VISION 2021
Livsey, James R.
Looney, Robert E.
Russell, James A.
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With the 2010 release of Vision 2021, the government's comprehensive societal and economic vision for the future, the United Arab Emirates (UAE) laid out a path to diversify its economy. This plan moves the UAE away from resource dependence to a knowledge-based economy less reliant on natural resources and physical labor. This thesis explores the economic history of the United Arab Emirates, its previous diversification efforts, and its proposed way forward with Vision 2021. The author evaluates progress made up to this point using economic data and key performance indicators outlined in Vision 2021. This evaluation shows that although the UAE has made significant investment into diversification efforts, there has not yet been the expected return on investment. In order to fulfill the plan’s aspirations, the UAE will need to make significant strides over the next two years.
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