The UAE is a federation of seven emirates, each ruled by its own hereditary monarchy, with Abu Dhabi serving as the capital. While traditionally dependent on oil wealth, the UAE has successfully diversified its economy to become a major business and tourism hub. Key economic sectors include oil and gas, international trade, banking and financial services, tourism, real estate, and aviation. The country is known for its tax-free environment, modern infrastructure, free trade zones, and strategic location as a global trade center, particularly in Dubai. Read also [[Middle East and North Africa (MENA)]]