Dubai Tourism

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Dubai

Jeffin Raju
Shayna Mason

Comm. 421
Jing Chen
November 16, 2007

Table of Contents
Intro…………………………………………………………………………………1

Current Trends……………………………………………………………………....1 * GDP Growth between “2000-2005”………………………………………...2 * Per Capita GDP Growth…………………………………………………….3 * Economic Growth…………………………………………………………...3 * Sectoral Performance………………………………………………………..3 * Tourism……………………………………………………………………...4

Where does the money come from?...........................................................................5 * Oil……………………………………………………………………….......5 * Tourism……………………………………………………………………...6 * International Finance Center………………………………………………...6 * Shipping………………………………………………………………….….7 * Airlines and Airports………………………………………………………..7 * Strategic Location…………………………………………………………...7 * Banking Industry……………………………………………………………8 * The Commercial Banking Sector……………………………………………8

Why companies go to Dubai………………………………………………………..9

Negative Impacts of Economic Growth……………………………………………10 * Inflation …………………………………………………………………....10 * Cost of Living………………………………………………………...…….10 * Emiratisation………………………………………………………………..11 * Labor Wages………………………………………………………………..12

Future of Dubai…………………………………………………………………….12

Appendix…………………………………………………………………………...13 Figure 1: Dubai GDP at Current Prices (USD Millions) 2000……………………..13 Figure 2:…………………………………………………………………………….13 Figure 3: Non-Oil industries contributions to Dubai’s GDP……………………….14 Figure 4: Inflation (CPI Growth)…………………………………………………...14 Figure 5: UAE Inflation…………………………………………………………….15

Figure 6: International GDP Growth vs. Population Growth………………………16
Figure 7:…………………………………………………………………………….16

Bibliography……………………………………………………………………….17

Intro
Dubai is a small Middle Eastern region that belongs to the United Arab Emirates. The UAE was formed in 1971 all emirates are governed by a Supreme Council of Rulers; however each emirate is still largely independent (“United Arab Emirates”). Sheikh Zayed, president of Abu Dhabi, over saw the initial export of oil and recognized the importance of building healthcare, and education systems in the area (“United Arab Emirates”). The UAE grew very quickly as their oil production boomed. The United Arab Emirates is one of the largest oil producers in the world and they have used oil revenues to create a very diverse and unique economy (“United Arab Emirates”). Dubai is a considered the hub for global finance, trade, and tourism; it fills the gap between Europe and Asia. Halliburton a large oil company is moving is headquarters to Dubai in order to take advantage of its close proximity to one of the largest energy markets in the world – Asia (ABC News). Because Dubai and the United Arab Emirates are rapidly growing there are many fascinating developments in tourism and construction. So where does all the money for the development of a country come from? The answer surprisingly is not just oil revenues but from tourism, finance, and shipping as well. In the future Dubai and the UAE will have to find ways to control inflation and manage the labour force in Dubai in order to have the man power to continue its development. Current Trends

So, what’s happening in Dubai currently, with the second largest amount of cranes in Dubai after China, with 15-25% of the world's construction cranes in operation I think we know the answer, Construction!! About 30,000, or 24 per cent of the world's 125,000 construction cranes, are currently operating in Dubai. The demand for construction related machinery, equipment and vehicles is expected to continue rising in the Middle East, especially in the UAE, due to the continuing construction and real estate boom. In 2003, the UAE's market for heavy construction machinery stood at $165 million, road construction machinery at $142 million and earth moving machinery at $125 million. The size has increased by 15-20 per cent since then. There was almost $300...
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