The United Arab Emirates (UAE) was established 45 years ago, in 1971. However, that short lineage is deeply rooted in culture and affluence. UAE consists of seven states known as Trucial states. These Trucial states also known as Emirates are, Abu Dhabi, Dubai, Sharjah, Ajman, Fujairah Umm al - Qaiwain, and Ras al – Khaimah. Their vast growth and substantial success have made them one of the most economically thriving countries in the world. UAE has developed immensely since its birth, especially in the last 20 years. The territory of UAE is extremely rich in oil and natural gases, which are their main exports. Many different ethnicities make up the country’s population, so much so that Emirati citizens have become the minority …show more content…
The main imports consist of machinery, food, chemicals, and transport equipment. Trade industry in UAE is also a great part of their economy as well. Foreign companies are permitted to manufacture and export goods in UAE without the burden of taxes or high cost of production. International businesses are guaranteed complete 100% ownership of the companies in UAE. Financial institutions such as banks can operate in a tax free status with little to no limitations on the import and export of currency or goods. The Official legal tender used in UAE is called Dirham. The exchange rate of Dirham to US dollars is approximately 3.67 Dirham to 1 dollar. The economic system of UAE is clearly an opportunity for many to capitalize and expand their businesses without fear of personal financial exhaustion. UAE is a vastly diverse country from which various different cultures and ethnicities can be found. The estimated population of UAE is around 9.4 million. Immigrant non – citizens make up about 85% of the population. Abu Dhabi, the nation’s capital has a population of approximately 942,000. UAE’s largest city, Dubai is roughly populated at 1.978 million. The official religion of UAE is Muslim. The Muslim religion is practiced by about 76% of the population. Other religions practiced in the country include, Christianity, Hindu, and Buddhism. UAE was released from British control in 1968. The official Independence of UAE was
By the beginning of the second Millennium, many countries realized the need and necessity to cope up with the rest of the rapidly developing world. As they realized this necessity, they also realized that the key to growth and development is, indeed, education. As a result, many countries around the world entered the heated race of reforming their education systems hoping that this would ensure them a foothold in the modern world.
It started back in 1980 when President Carter determined UAE to be a viable asset by stating this in the “Carter Doctrine”, “…an attempt by any outside force to gain control of the ...[Arabian] Gulf region will be regarded as an assault on the vital interests of the United States of America, and such an assault will be repelled by any means necessary, including military force.” (uae-embassy.org, n.d.). In mid-1990, when Iraq invaded Kuwait, not only did UAE help fund the war for America, they also sent approximately 2,000 of their own troops to help fight the Iraqis in Operation Desert Storm. In Abu Dhabi, the first used United States Air Force base was opened to mainly provide refuel missions for US aircraft during the war, and is still utilized by US forces today. Also, a couple years later the US and UAE signs the defense pact, which allowed US forces to utilize UAE’s ports. One specifically in Dubai, Ali Port, is crucial to the US Navy due to the fact that it is the only port on the Gulf that is deep enough to be used for an aircraft carrier. Since 1992, UAE has been the largest manufacturer of US military equipment, investing over $360 million in defense gear for the American troops. As we move forward in time, lets take a look at the acts that hit closer to home. When we were attacked by arguably the most malicious terrorist attacks on American soil on September 11, 2001, UAE immediately froze all bank accounts to anyone suspected of funding terrorism, and instantaneously confronted Al Qaeda and the Taliban Regime. Only four short years later, the American people were hit by another catastrophic event, Hurricane Katrina. When the US was trying to regroup, UAE invested $215 million into the aid of people impacted by the event. The most important fact to date, is when UAE requested and the US approved to sell $15 billion in defense equipment to include the
United Arab Emirates occupies a total area of about 83,600 square kilometers (32,400 square miles), along the south-eastern tip of the Arabian Peninsula between 22°50 and 26°N and between 51° and 56°25 E. The UAE has 1 318 km of continental coastline along the Persian Gulf. The inflation rate, exchange rate and currency stability are important factors to consider in International trade, economically, the UAE has a 4% of GDP growth in 2012 with a lower inflation rate of 1.1%, In terms of days and cost of import procedure (United Arab Emirate). The Urbanization rate of the region is 84% (UAE) which would contribute to the product awareness in necessary part of the region since the urbanization rate is high. The common languages in
The city of Dubai is situated in the heart of the Arabian Peninsula. Part of the United Arab Emirates UAE, this city-state is aspiring to be major metropolis and the most populated in UAE with a population of 2.1 million approx. Dubai is also one of the richest economies of the world with ‘an estimated per capita income of $37000/-’10
Founded on May 26, 1981, GCC aimed to promote coordination between its member states.3 In 2003, approximately four million people lived in the UAE, with about one quarter residing in Dubai (835,000 men and 369,000 women).4 This population was predominantly not indigenous as 60% hailed from Asia, 15% came from other Arab countries, and 5% were from Europe. All key positions in the Dubai government however were occupied by members of a ruling family—their authority unchallenged by political parties or universal suffrage.5 While the ruling family tolerated non-Muslim religions, the preaching of any expression of religion other than Islam was forbidden as was the formation of trade unions.
Most countries affected by the civil wars have been cut off from any regional connections therefore they weren’t able to attract many of their regular customers. The UAE has taken that to their advantage by reeling in the customers who would normally shop in Egypt, Syria, Tunisia, Libya and Yemen and give them the opportunity to shop in places in the UAE instead of in a dangerous country. This has led to a 10% rise in spending by shoppers affected by the Arab Spring. The United Arab Emirates is known as a modern country with a stable government system that the public seems to respect. Governments from different countries such as Syria have shut down Internet and power connections to avoid the world to see the troublesome county. Because of these barricades, countries such as the United States and England have been keeping a close eye, especially since they cannot export and import products between countries. Perhaps the Middle East would’ve been better off without the Arab Spring.
The health insurance industry in United Arab Emirates (UAE) has change dramatically in the past few years. The authorities moved to a mandatory health insurance coverage and a new initiative has increased the coverage and care people can expect from their insurance packages.
The official currency in Dubai is named Dirham (or United Arab Emirates Dirham; AED) and is used all over UAE.
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 United Arab Emirates (UAE) was established 45 years ago, in 1971. However, that short lineage is deeply rooted in culture and affluence. UAE consists of seven states known as Trucial states. These Trucial states also known as Emirates are, Abu Dhabi, Dubai, Sharjah, Ajman, Fujairah Umm al - Qaiwain, and Ras al – Khaimah. Their vast growth and substantial success have made them one of the most economically thriving countries in the world. UAE has developed immensely since its birth, especially in the last 20 years. The territory of UAE is extremely rich in oil and natural gases, which are their main exports. Many different ethnicities make up the country’s population, so much so that Emirati citizens have become the minority in their own country. UAE also has a growing military force consisting of Air Defense Artillery, F-16 fighter jets, and heavy armored vehicles. Originally UAE relied on coastal fishing and farming for their main food source, UAE now imports most of its food.
Unlike the melting pot of nationalities in America, United Arab Emirates is, more accurately, like a pot of nationalities that was never heated. The immigration policies of UAE, among other things, have kept them all separated. As can be seen in Dubai, a city that is the present day Constantinople, the modern age has taken over in every industry. The city is glittering with popular brands like McDonald’s, PizzaHut, Dominoes, Chili’s, The Cheesecake Factory, Starbucks, Nando’s, Lal Qila and many more from the United States, Europe and Asia. The fashion scene, described by my friend who visits Dubai twice a year, is like that of New York or Paris. The Emirati culture and values are fading as the newer generations assimilate into their current social scene. Their immigration policies are failing to keep their ideals intact. The labor laws lack protection of any kind for the immigrant workers, domestic or otherwise. The government of UAE cannot hold preservation of national identity and cultural values to be more important than the rights of the immigrants. In their quest for cheap labor and large profit margins, the UAE government is violating human rights and social rights.
UAE is located at the southeast end of the Arabian Peninsula on the Arabian Gulf sometimes referred to as Persian Gulf, bordering Oman , and Saudi Arabia to the south, sharing sea borders with Qatar and Iran (CIA World Factbook). The population is estimated to be 9.446 million and consists of 1.4 million Emirati citizens and 7.8 million expatriates, majority of whom came from India, Pakistan, Philippines and other Arab countries. It was established in 1971 as a federation of seven emirates (states). Each emirate is governed by a monarch; together, along with some elected representatives, they form the Federal Supreme Council – legislative organ. One of the monarchs is selected as the President of the United Arab Emirates.
What has really helped them grow is their liberal trade system, their aim to be a regional financial hub and a banking sector that is resilient. The level of economic development is high due to a thriving economy with business, labor and trade freedom going up and government spending lowering. Due to a thriving economy, backed by favorable tax conditions, many see UAE as an ideal location for a growing workforce and seek to buy or rent. With a tax-free environment, investors are motivated to invest and draws in many foreign companies to start business in the free zones and cities of UAE. Specifically, in Dubai their
United Arab Emirates (UAE) could be a country on the Arabian Peninsula set on the southeastern coast of the Persian Gulf and the northwestern coast of the Gulf of Muscat and Oman. The UAE consists of seven emirates and was based on a pair of Gregorian calendar month 1971 as a federation. Six of the seven emirates (Abu Dhabi, Dubai, Sharjah, Ajman, Umm Al
Abu Dhabi is the capital city of the United Arab Emirates, a country located on the southeastern tip of the Arabian Peninsula, straddling the Persian Gulf and the Gulf of Oman, which leads to the Arabian Sea (see Map 1 above). With a population of roughly 1.6 million, Abu Dhabi is the second most populous city in the country, after Dubai. The city is also the capital of the Abu Dhabi emirate, the largest of all emirates in the country, comprising over 80% of the country’s total land area. Abu Dhabi is situated on an island located just 250 meters from the mainland, and has a very distinguishable skyline consisting of modern skyscrapers.1, 2 The city is located in a desert area by the sea, so it possesses a hot and humid desert climate with summer temperatures averaging above 104 degrees but almost nonexistent rainfall.2 The city of Abu Dhabi was initially settled over 500 years ago, and it remained a relatively small settlement for local tribes until well into the 19th century. Under the rule of Sheikh Zayed bin Khalifa, Abu Dhabi focused on the trading pearls, and was able to develop quickly as a result of its favorable location linking the western world and the eastern realm such as India.3 The city embarked on a road to prosperity in 1958, when large offshore and onshore petroleum reserves were discovered, and oil exportation ensued in 1962. With over half the economy supported by oil revenue, the city’s GDP reached $100 billion in 2006, representing a