The UAE is expanding economic and business activity beyond the oil and gas supply markets for long term viability in the global economy. Macroeconomic stability will be driven by reduced reliance on oil revenues and growing influence in emerging technologies and other economic sectors.

The Gulf Cooperation Council (GCC) is an economic union of six oil-exporting nations in the Middle East. Economic decisions including oil production quotas are influenced by the GCC and production cuts due to a decrease in demand could severely hurt the UAE economy if it remains reliant on oil revenues. Economic expansion into technology will provide independent economic streams not influenced by the GCC and also not dependent on global demand for oil.

Economic expansion into infrastructure and technology sectors will protect against inflation driven by changes in the oil markets. Rapid decreases in oil prices could drive inflation if oil revenues are the only revenue stream supporting the economy. A diverse economy will provide stabilizing industries to protect against this.

Economic development will allow the UAE to pursue emerging and developing technologies and industries allowing businesses to stay relevant and modern. Green technologies are beginning to provide alternatives to fossil fuels and it is possible the demand for oil and gas will significantly decrease in the upcoming decades. Economies solely dependant on oil revenues will be unsustainable as global demand for oil decreases and new technologies allow resources to be extracted cheaper and more efficiently elsewhere.

Overall, economic expansion into sectors such as technology and infrastructure will allow the UAE to become an economic power not dependent on an individual sector for long term success.