Dubai's Economic Developement

Only available on StudyMode
  • Download(s) : 139
  • Published : August 29, 2008
Open Document
Text Preview
Table of Contents

Executive Summary………………………………………………………………………………2 Introduction
Background: Overview of history and development of the United Arab Emirates and Dubai………………………………………………………………………………………3
Purpose Statement.……………………….………………………………………………..3
Research Methods………………………………………………………………………....3 Findings
Economy of the United Arab Emirates ….. ……………………………………….……...4 The Palm Tree Islands: focus on tourism for economic sustainability…………………....4 Other major tourist attractions and further construction projects……...……………..…...5

Conclusion ……………………………………………………………………………………….5 References………………………………………………………………………………………...6 Appendix Material………………………………………………………………………………..7

Executive summary
The construction of The Palm Tree Islands in Dubai helped achieving economic growth and stability by means of developing the tourism sector. Dubai’s success in construction of tourists attraction sites brought the city reputation of the “place-to-be”. By 2010 Dubai expects to receive fifteen million people. Already existing architectural wonders such as The World Islands, and Burj Al Arab, the only seven star hotel in the world, have become very popular and are attracting many tourists to the UAE. Today, almost 90 per cent of Dubai’s economic growth is driven from non-oil industry.

For many years, economic development of the United Arab Emirates depended on oil and gas export but these natural resources are expected to be minimal by 2016. Dubai’s Sheikh Mohammed bin Rashid Al Maktoum is the ambitious leader who came up with the idea of extending Dubai’s cost line and attracting tourists by building The Palm Tree Islands.

The first Palm Tree Island - The Palm Jumeirah, was completed in the end of 2006 and became the world’s biggest interest. Luxurious hotels, restaurants, aqua parks and other attractions are built on The Palm Jumeirah. It welcomes almost 20,000 tourists per day and has over 120,000 residents.

Background
Overview of history and development of the United Arab Emirates and Dubai Only 37 years ago the United Arab Emirates (UAE) was a desert land occupied by Arab Bedouins. Today, it is one of the richest locations in the Middle East. Located in the Persian Gulf, the United Arab Emirates borders with Oman and Saudi Arabia. It is a small country with population of 4.104,695 in 2006 (UAE Interact 2006). The capital is Abu Dhabi but the most famous tourist location is Dubai.

Back in the history, in 1950, Dubai was a place radically different from what it is now. This was a town of no distinction, a home to traders and pearl divers, with occasional pirates or smugglers taking refuge in its creek. Then, a small reserve of oil was discovered in Dubai, a smaller one than Abu Dhabi or Saudi Arabia has, but Dubai’s leader, Sheikh Rashid Al Maktoum, saw a chance to transform his desert land. In the early 1970th Dubai joined with six other emirates and formed a state called the United Arab Emirates. (The Economist 2006, December)

Purpose Statement
The purpose of this report is to demonstrate how the construction of The Palm Tree Islands in Dubai helped to sustain economic stability of this country by attracting tourists.

Research Methods
The research tools used to prepare this report include library databases, such as ProQuest, Factivia, BBC News Online, Canadian Newsstand Major Dailies database, National Post, Dubai’s official web site www.theemiratesnetwork.com and construction company web site www.nakheel.com.

Findings
Economy of the United Arab Emirates and Petroleum Resources The UAE’s primary source of revenue generation is oil and gas production. In 2006, the emirates were producing about 2.5 million barrels of crude oil per day. The output of natural gas for the year was 46 billion cu m (The Economist 2006, December).Successful diversification of economy led to the development of other economic traits that included agriculture, fishing, boat building,...
tracking img