Working Smart and Small

The Role of Knowledge-based and Service Industries in Growth Strategies for Small States

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Small states face serious challenges for development due to their size, remoteness and vulnerability. In recent years, the prospects for small states have deteriorated further due to preference erosion and the emergence of larger competitors such as India and China. Working Smart and Small suggests how small states can reposition themselves in the global economy and move into knowledge-based and service industries.

Part I provides an overview of general factors stimulating or constraining the development of services sector and trade in services. It also identifies key trends and provides analysis.

Part II gives six case study examples of how some small states have promoted knowledge-based and service industries in their economies. The small states studied, from different regions and income groups, are Botswana, Mauritius, St. Lucia, Singapore, United Arab Emirates and Vanuatu. The studies cover the performance and supporting factors in five promising service sectors: the financial sector, information and communication technologies, education, professional services and tourism.

Part III considers the policy implications.

This book will be of particular interest to economic policy-makers and researchers working on issues of concern to small states.



United Arab Emirates

United Arab Emirates (UAE) is a Middle Eastern federation comprising seven states – Abu Dhabi, Ajman, Dubai, Fujairah, Ras-al-Khaimah, Sharjah and Umm-al-Quwain. Abu Dhabi, Dubai and Sharjah are the three largest states in terms of population as well as the size of their economies. UAE is an oil rich country, with 9 per cent of total world reserves of crude oil and 5 per cent of world reserves of natural gas. In 2004, it had a real per capita GDP (PPP-adjusted) of US$22,000 and a population of 4.3 million. With an average annual growth rate of over 7 per cent since 2000, the UAE economy is one of the fastest growing in the world.


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