The economy is the system of how money is made and used within a particular country or region.
The UAE has abused human rights throughout its growth and development boom in its effort to be known as a globalized country. The UAE has violated workers’ rights. Lack of enforced law, along with substandard living conditions and lack job opportunities in source countries are some of the many realities faced by migrant workers in the UAE. The UAE government, together with the international community must work together to end the current violation of workers’ rights.
Tourism creates jobs directly through the tourism industry and indirectly in sectors such as retail and transportation. When tourist spend their money on goods and services,
For example, the flight that Virgin Atlantic provides to Asian countries will contribute to the nation tourism aspects. Foreign tourist from the Europe and all perhaps from all over the world will come to Asian countries. This will boom the tourism industry in the particular country. This will develop the infrastructure of the country itself (Tucker, 2010). In terms of employment, especially that rely on tourism industry, more and more labour will be needed. Hence, the requirement for workers will increase. Job seekers around the world will come to that country to seek for job. In fact, the local people themselves will need to compete with foreign workers to get the job. Hotels for example, will be built and increased from time to time.
In 1997 the sales of natural gas surged in 1997 as one of Qatar’s North Field came on line (Beard, p. 18). This specific event contributed to a total GDP of approximately 30% (Beard, p. 18). Further development in 04’ can be directly attributed to transportation, storage, hotels, bank and finance and government. Again, Qatar’s reinvestment in their community enables them to function and thrive even with any imbalances in the gas and oil industry that many other countries base their entire GDP to. Further growth was seen through Qatar’s history though. Specifically, in 2008, Qatar’s capital was believed to have peaked. Further contributing factors are the positive traits that coincided not only with the factors that enabled them to grow not only in the hydrocarbon sector nonetheless the non-hydrocarbon sector as well. The labor growth within Qatar has indefinitely increase. Specifically, many workers have migrated from one sector of growth to the other. The IMF stated that, “Qatar’s population rose from approximately 650 000 in 2001 to 1.9 million in 2013. The employment-to-population ratio rose from 48 percent in 2001 to 68 percent in 2007 and more than 85 percent in 2013. As a result, growth in GDP per worker has been slower than growth in GDP per population (Table 1). This is illustrated in the case of the non-hydrocarbon sector, which appears to be growing fast in per-capita terms but not in per-worker terms” (Beard, p. 20). However, with this population increase occurring, production by these workers lacked. IMF found that this production was in decline from 01’ through 09’, but then elevated in 12’ with a slight decline yet again in 2013. This may only be explained by the shift of labor to the construction sector of the
Another impact is said to be on an economy, which is highly influenced by tourism for the development of the country. On the positive aspect, there are a lot of benefits such as jobs opportunity, distribution of capital, travel industry boom, economy boost that not only develops the country but also the people and their
Tourism is often synonymous to traveling for pleasure and education. It is also a business of attracting tourists and providing for their accommodation and entertainment. In many countries, tourism is an industry for earning Inland Revenue and foreign exchange. The many businesses that grow concomitantly with development of tourism include airlines, shipping, hotels and restaurants, finance companies, tour operators, travel agents, car rental firms, caterers and retail establishments and together,
Tourism industry removed the trade barriers in Spain and helped government to overcome the balance-of-payments deficit. According to Aramberri (2009), after tourism became the main source for economy, two major factors contributed to foreign exchange in Spain. The first factor was labor migration. Travelling allowed Spanish people to leave their country for working abroad. These people were estimated to enrich foreign reserves and to decrease balance-of-payments deficit by 7.9% The other factor was tourism receipts. Holloway and Humphreys in their book (2009) explain that, as the number of visitors to country increases, the tourism receipts or the expenditures that made by tourists in that country also rises. This positive expansion encouraged foreign investors and the amount of investments in Spain started to soar. Various countries gave Spain money to develop tourism infrastructure and services. There were two kinds of major investor types that benefited Spanish Exchequer. The first type was Tour Operators of tourism products. They sold holiday packages that included all the services and products. Such kind of wholesalers included several large members and plentiful small firms. In Spain, these tour operators brought significant benefit because in 2000-2010s Spain was not only destination country but it was also a good generating country. Another type of investors was Airline Companies. As cited
The report has consisted of an analysis of tourism in UAE to compare with tourism in Oman and the analysis was based on information gathered from a variety of sources: website of each countries, books and from interviews with some tourists. The analysis has led to conclude that, despite the strong tourism fundamentals in the Sultanate compared to the UAE, it suffers from
UAE are attention to the use of natural gas resources, the development of cement, aluminum, plastics, building materials, clothing, and food processing industry, emphasis on the development of agriculture, animal husbandry and fishery.
But there’s more to Dubai than simply oil revenue. The westernisation of the emirate’s economy has created much diversification. Today’s new arrivals are as likely to find themselves employed in tourism, financial services or real estate as in energy or construction. They
The economy in the United Arab Emirates has experienced substantial increases in the last 40 years. The UAE’s capabilities with the pearling and oil industries have given the region its necessary budgets to expand so rapidly. The economic policies in the UAE have gone through stages, since the birth of the region in 1971. Changes in economic welfare of the markets, and privatization policies are also key aspects in understanding the UAE’s economic liberalization and growth. In order to understand the UAE’s economic standard, economic liberalization must be analyzed. The argument of this paper will discuss how economic liberalization has occurred in the United Arab Emirates and is continuing to grow.
Saudi Arabia has an oil-based economy. Shipments of oil account for 87 percent of total exports and for 46 percent of GDP. In recent years, in order to diversify the economy, the government has been investing in telecommunications, petrochemicals, natural gas exploitation and power generation sectors.
The UAE is one of the riches nations in the world as measure by per capita GNP. The economy is primarily based on the oil
The real value of the tourist receipts rose by about 9% and is expected to increase by about 7% going forward. The non-oil sector has steadily expanded as part of intended diversification in the economy especially Abu Dhabi which is under diversification program i.e. boosting non-oil sectors of its emirate, as on date accounts for 48% of the total GDP. UAE has attracted about $74 billion FDI over last 4 decades, second highest among Arab countries after Saudi Arabia. Also, the economy is inclined towards increasing the manufacturing sector apart from the oil industry. The manufacturing sector accounted for about 10% in its GDP, however, projected a growth of 7%. The government derives about 65% of its revenues from oil sales at the moment.