The UAE is highly dependent on oil revenue, which is one of the main challenges. In the industrial sector, the manufacturing and construction industries together contributed 9% share of GDP in 2014. The industrial sector is the main sector, which drives the economic growth of the UAE. The country has a strong current account surplus and high foreign reserves. It is the 6th largest petroleum exporter in the world. The UAE has 7th largest oil reserves and 7th largest natural gas reserves in the world. The UAE is a politically stable country, which follows absolute monarchy.
#Pestle analysis of information technology industry of uae drivers
The report highlights various drivers and challenges, which have influenced investment decisions in the economy. The report also includes forecast for the UAE’s economic growth through 2020.
SWOT analysis, scenario analysis, and risk analysis of the UAE are also included in the report. This report provides an analysis of the UAE economy from historical, current, and future perspectives. The author has analyzed the political, economic, social, technological, legal, and environmental factors of the UAE and has come up with a comprehensive research report “PESTLE Analysis of the UAE 2015”. The non-oil sector that includes tourism, hospitality, and finance is expected to drive economic growth during the forecast period. The UAE government has diversified the economy from the oil sector to the non-oil sector. Strong investment plans of the UAE government in infrastructure and major projects will support the high growth of the economy. The UAE significantly relies on its hydrocarbon sector where the share of oil-related activities accounted for about 29% and non-oil activities accounted for 71% of total GDP in 2014. Mining and quarrying made the major contribution of 34.6% to GDP. Moreover, several healthcare institutions also allow making a live chat or email to doctors for querying about their illness.The UAE economy is dominated by the industrial sector, which contributed approximately 58.2% to the total GDP in 2014. Now, several healthcare companies are offering apps to get doctors connected with their patients. Developments in computer applications can allow patients to receive treatment or care faster than before.
Technological factors, as a matter of fact, provide excellent growth opportunities for healthcare companies. Technological innovations can also be utilized as marketing strategies for bringing in healthcare technological solutions. For example, power wheelchair provides people with disability to move easily within home, workspace and community. Medical companies are engaged in healthcare distribution as well as healthcare technology solutions. Technological advancement in the healthcare industry can affect the performance of key players. Resourcefulness and novelty stand at the heart of technology. It is very important for healthcare service providers to come closer to their consumers without exceeding the regulatory limitations. This can also serve as a long-term marketing strategy as the culture of any population changes rarely. Hospitals and healthcare professionals can benefit from these changing and progressive trends. There is a great change in their expectations and now they have become more demanding. These Economic environment changes can greatly influence the spending policies of companies and purchase behavior of consumers. Unemployment, interest rates, credit availability and inflation are economic factors that affect healthcare industry performance and operation. Government spending on the healthcare industry is greatly affected by changes in tax policy. In addition to this, changes in the importing policies of drugs as well as strikes of health experts because of irregularities in salary are core political issues that affect healthcare companies. The political factors like changing tax laws, employment regulations, consumer protection laws and insurance mandates can impact the healthcare industry. Many economies across the world have introduced ways through which spending in the health industry is curbed down. The Political environment impact on the healthcare industry performance is changing continuously mainly because of the changing government regulations.