Welcome to IMG Abu Dhabi... Abu Dhabi (Arabic: أبو ظبي transliteration: abū ẓābī, literally Father of gazelle[1]) is the capital and second most populous city in the United Arab Emirates (UAE), after Dubai. It is also the seat of government of the emirate of Abu Dhabi. Abu Dhabi lies on a T-shaped island jutting into the Persian Gulf from the central western coast. Approximately 850,000 people live in Abu Dhabi as of 2008. One of the world's largest producers of oil, Abu Dhabi has actively attempted to diversify its economy in recent years through investments in financial services and tourism. Abu Dhabi city is the seat of the emirate of Abu Dhabi, which is ruled by Khalifa bin Zayed Al Nahyan, – the President of the UAE. Abu Dhabi is the wealthiest emirate of the UAE in terms of Gross Domestic Product (GDP) and per capita income. The average net worth for Abu Dhabi's 420,000 citizens is AED 62 million (US$ 17 million), and more than $1 trillion is invested worldwide in this city alone. The GDP per capita also reached $63,000 which is far above the average income of the United Arab Emirates and which ranks third in the world after Luxembourg and Norway. Abu Dhabi is also planning many future projects sharing with the Cooperation Council for the Arab States of the Gulf (GCC) and taking 29% of all the GCC future plannings. The United Arab Emirates is a fast-growing economy: in 2006 the per capita income grew by 9%, providing a GDP per capita of $49,700 and ranking third in the world at Purchasing power parity. Abu Dhabi plays a large role in the world economy. Abu Dhabi's sovereign wealth fund, the Abu Dhabi Investment Authority (ADIA), currently estimated at US$ 875 billion, is the world's wealthiest soverign fund, in terms of total asset value. |