The other day I was reading an interesting article on NYTimes - Azerbaijan Is Rich. Now It Wants to Be Famous.
The article is quite interesting, and in a place where it's told that Azerbaijan will build up a Khazar Island archipelago I started to smile, not to say to laugh, but, no need to laugh.
I decided we should compare Dubai and Baku. Or Azerbaijan and United Arab Emirates. In one of my previous posts, I have compared the Caucasus with Baltic states, but now it's time to compare GDP for Azerbaijan and the United Arab Emirates.
Why those two? They are oil-rich countries, the second one has already built their country, by surprising world with Burj Khalifa e.t.c. Azerbaijan is just on their way to achievements... Since on my favorite place where to get data - World bank, we had no data for the United Arab Emirates in 2012, I took closed available data from 2011.
GDP in Azerbaijan and the United Arab Emirates 2011
Azerbaijan 63.4 bln USD United Arab Emirates 360.2 bln USD
GDP per capita in Azerbaijan and the United Arab Emirates 2011
Azerbaijan 6.911 thousand USD United Arab Emirates 40.363 thousand USD Well - it seems Azerbaijan has a long way to go to catch up with the United Arab Emirates, but as already mentioned in the NYTimes post - it has the ambitions. Why it's interesting to compare Azerbaijan and the United Arab Emirates? Well both of them are less/more the same size, the population is equal and both of them are Oil rich.
In one of my next blog posts, I'll try to analyze how much oil each of them has, and is there a possibility for Azerbaijan to catch up, and maybe over-perform the United Arab Emirates. The question I would like to ask - what is the living level there in Azerbaijan and UAE. Is the wealth equally shared with their citizens, or it's controlled by a few oligarchs?