The City of Dubai

The City Of Dubai

Introduction

About The City

In 1971 Dubai connected with Emirates as one of the states and the name of Emirates changed to United Arab Emirates (UAE).

The Official Name

The official name of Dubai is Arab Emirates (Al Imarat al Arabiyah al Muttahidah.

Short Form

UAE.

Expression for Residents

Emirati(s)

Population

With the local population of just 170,000, the number of Dubai emigrant people now becomes 2 million

Geography|:

Location: Dubai is located at Arabian Peninsula. It is situated between Saudi Arabia and Oman. Its border touches the Gulf of Oman and the Persian Gulf.

Legal Tender: The currency of Dubai is dirham symbolized by DH or Dhs. Weather Climatic Conditions

Normally the weather of Dubai is dry, and rain is very uncommon. The warmest months in Dubai are between June and September when temperature reaches up to 50°C. Language:

Many countries are represented by their languages in the world. The official language of Dubai is Arabic but in Dubai language is not the big issue as now people speaks English widely and sometimes different regional languages also practice. (www.iec.ch)

Discussion

Businessmen are more interested to invest in Dubai due to the favorable business environment. Now, it is one of the most flourishing state of Gulf. To enhance the business activities government is taking remarkable steps like foundation of Dubai internet city and after that Dubai parks. Economic Forces

Behind the strong economic structure of this city, there are some driving forces like political stability, openness of the economy for foreign investors and low dependence on oil's economy. The history of economic development city tells that the government was ready to take risks to increase commercial opportunities at international level. Government leaders of Dubai emphasized on international trade to meet the challenges of globalization. For the enhancement of global trade one of the leader name, Shaykch Mohammed personified that

“Any country which isolates itself will never learn or benefit. We have a vision, which we exert all efforts to realize, of Dubai as a major trade centre for the East and the West and we believe that Dubai is well qualified to play this great role.”(Christopher Denicola, 2005)

Economic Profile

After Abu Dhabi, Dubai is the second largest state of UAE. Both states are contributing 90% of the GDP of UAE. Being the fastest growing city in the world it attracts many foreign investors. It has expanded economy because the government of Dubai wants to decrease the dependency on oil. The key drivers off Dubai economic growth are trade industry, tourism industry, real estate and construction industry. In 2010 and 2011 a significant growth is observed in trade and logistics sector. The growth rate of Dubai is now becoming stable after the crises of 2009. (Dr. Lahouel Mohamed, 2012)

Gross Domestic Product (GDP)

Over the past two years, Dubai has faced significant GDP growth rate primarily achieved by the non-oil sectors. The figure shows the GDP rate of five years from 2007 to 2011 which shows that there is an increase in GDP rate in the year 2010 as compared to year ...