Overview

• UAE is located in Southeast Asia bordering the gulf of Oman and the Persian Gulf Between Saudi Arabia, it also borders Qatar which is the wealthiest nation into the world. The total area of the UAE is approximately 83,600 square km.Although Dubai is the most talked about Abu Dhabi the largest emirate ,takes up 87 percent of total area. The smallest Emirate is Ajman which only accounts for 259 square km.

Info

• UAE Population-The UAE population as of 2012 is 9.206 million UAE Government- The UAE is an elective monarchy .Its ruler is Sheik Muhamad.UAE consists of a federation of seven constitutional monarchies.Which are Abu Dhabi(the capital),Dubai, Ajman, Fujairah, Ras al Khaimah, Sharjah, and Umm al Qaiwan. The reason why I am covering this country is because it is a rapidly growing Middle Eastern/Gulf country and also the sixth richest country in the world. Although Qatar is in the same region which is the wealthiest country in the world, its economy functions primarily on oil so it is not yet as sophisticated and diversified as Emirates.

Present

• The way they have done this is through investing into other sectors of the economy such as tourism, and also through making Dubai major world business center due to its strategic location, it serves as the largest export center in the Middle East. The main advantage that draws worldwide companies there is its laws regarding 100% foreign ownership (in other words no protectionism)and zero percent income and sales tax. Due to these factors oil and gas output makeup only about 25% of the GDP.

Imports

• India17.50% Primary products: cotton, accessories, gems and jewelry, man-made yarn, fabrics, manufacturers of metals, cotton yarn, marine products, machinery and instruments, plastic and linoleum products, tea.

• China14.00%Primary products: textile products, clothes, light industrial products, handicrafts, machinery and products made from gold, silver, copper, iron, tin.

• United States7.70% Primary products: transport equipment, machinery, computer & electronic products, primary metal manufacturing, chemicals.

• Germany 5.60% Primary products: machineries, electronics, chemical products, measurement and control technology, iron, steel.

• Japan 4.82% Primary products: transport equipment, electrical machinery, general machinery, foodstuff, raw materials, mineral fuels.

Exports

• Japan 17.10% Primary products: crude oil, aluminum.

• India13.60% Primary products: pearls, precious and semi-precious stones, gold, pulp and waste paper, sulphur and unroasted iron pyrites, metalifer ore and metal scrap, organic and inorganic chemicals.

• Iran 6.90% Primary products: pearls, precious and semi-precious stones, gold, pulp and waste paper, sulphur and unroasted iron pyrites, metalifer ore and metal scrap, organic and inorganic chemicals.

• South Korea 6.10% Primary products: crude oil, petroleum products such as naphtha and liquefied petroleum gas, aluminum, copper.

• Thailand 5.10%Primary products: crude oil, scrap metal, gold and silver bar, chemicals.

GDP

GDP- 360.2 billion USD as

of (2011)

Gross National Income- 378.3

billion PPP dollars (2011)

GDP per capita-

40,363.16 (2011)

Social Programs

The UAE has a very small native population, consisting of roughly 800,000, because of its past as a Bedouin society, due to this and its large abundance of oil wealth which sometimes even leads to government surpluses, Emirate citizens enjoy a variety of free services payed for by the government. Due to this there are very few emerati citizens working in private sector jobs, such as banking, law and technology which are dominated by foreigners.Because of these government program the UAE has a very low unemployment about 2% and poverty rate among nationals.Skeptics say that this type of

government help leads inefficiency and “a culture of dependency” among nationals.

For example 85% of the workforce is made up by foreigners.

Social Programs

• free healthcare, free education ,and subsidized utilities.

• Emirati men can claim any uninhabited land and acquire no-interest loans when building homes.

• $19,000 payment towards wedding costs

• Emeriti citizens who graduate college are guaranteed a government job

Industries

• UAE Top Industries and Companies- Top 10 companies in Emirates are 1.Etisalat which is a Telecom company worth 71.78bn AED71 2.National Bank of Abu Dhabi worth 39.9bn. 3.Dp World a transportation company(marine terminal) worth 35.6 bn AED 4.First Gulf Bank worth 35.55 bn AED. 5.Emaar Properties (real estate and construction) 22.8bn AED 6.Abu Dhabi Commercial Bank Industry 17.5bn AED. 7.Du (Emigrates Telecommunications Company) 15.954 bn AED 8.Emeriates NBD (bank) 15.839bn AED. 9.Mashreq Bank 9.299 bn AED.10.Abu Dhabi National Energy Company 8.403bn AED

Nakheel Properties-

• (operated by Sheikh Ahmad bin Saeed al Maktoum)a real estate developer in Dubai.Which is responsible for a variety of real estate projects in Dubai such as Palm Islands,Dubai Waterfront,The Gardens,International City Jumeirah Islands and Jumeirah Lake towers. The company is also famous for its residential projects.In June 2013 the company sold 350 villas (in Jumeirah Park master community) for 385 million in five hours.The companies main competitor is Emaar Properties.

Burj Khalifah

• Burj Khalifah-was completed on October 1st 2009.It is the tallest man made structure in the world(2,722 ft).The building has 163floors,consisting of a hotel, shops and apartments. The costs of construction was $1,500,000,000.It was approved by Sheikh Muhammad in order to draw intention to Dubai as part of the bigger plan to transform Dubais economy from an oil based economy to one based more on tourism and service.In a matter of months 90% of the building was sold.

Emirates Airlines

• Dubai has been successful in transporting its oil wealth into other sectors in order to build a less oil dependent economy. They have been so successful that now days oil only accounts for 6% of the GDP

• One of the ways they have accomplished this is through tourism and foreign investment by making Dubai the business hub of the Middle East. The way in which they have done that is through marketing and accessibility.

• The way in which they’ve made Dubai more accessible is through Emirates Airlines. Emirates Airlines

• based in Dubai and is owned by a subsidiary of the Emirates Group. Which is owned by the government of Dubai's Investment Corporation Of Dubai

• . It is the largest airline in the region and it operates roughly 3,400 flights per week, to 74 countries and 133 cities across all six continents. It acts as a hub between Europe and Asia. It ranks as the 7th largest airline worldwide. In the first half of 2012 alone its profits reached nearly 42.3 billion AED.

Emirates Airlines

Emirates is the only airline to have a steady rise of 20%annually. Rivals believe that the rising success of the airline can be contributed to discounted oil prices because of the location in the region, and also they

believe it is still being heavily subsidized by the government. Apart from that the airline benefits from no income tax, no corporate tax no

unions and a labor forced mostly made up of “hungry immigrants” from

Southeast Asia.

Future

• Dubai Municipality is in the process of building a smart city for Emirati residents. The city will be powered by solar energy and will be “completely sustainable". The city will produce 200 megawatts from solar panels that will cover the roofs of residential units and other buildings. The city is expected to be finished by 2020.The city will accommodate 160,000 people and cover over 14,000 acres of land. The city will be completely sufficient

• And sustainable in terms of resources, transport and energy and will recycle over 40,000 cubic meters of water.

• In addition to that Dubai plans on building another smart city which will be served by electronically charged vehicles. The Total cost of the Smart city project is $299 million and it will contain 97,000 sqm of office space,25,000 sq. m of commercial space ,20,000 sq. miles of residential space and 115 business room hotels. Electrically powered vehicles will be the main form of transportation, and charging stations will be set up all across the city. It will also feature charging docs,pop up furniture and digital play tables. It is said to be finished by the fourth quarter of 2017.

Sources

• Andy Sambrige, Dubai Tech Park Launches 299 million” Smart City Project”.Arabian Business.com,March 9 2104.Web

• Andy Sambridge Dubai Reveals Plan To Build ” Smart City” for Emiratis.Arabian Business.com,March 3,2014.Web

• The World Bank,World Development Indicators.United Arab Emirates Country Report ,Transormation Index. BTI 2014,www.bti-project.org.Web