Development of Dubai: The Past 30 Years
In this essay I will be researching about the development of Dubai, I will do this by using the Internet, using the library and interviewing people directly involved with the development. I plan to give an insight into the development, why it happened? And what Dubai holds for the future? I will also be looking at why the development went a heads and if it was worth the money and time that people all round the world put into, to make it the city it is today.
Where is Dubai?
Dubai is situated in the Middle East and is one of the seven Emirates in the United Arab Emirates (UAE), and is also the largest populated city in the UAE, which was established on 2nd December 1971. Dubai is situated on the northeast coast of the United Arab Emirates and shares borders with Abu Dhabi in the south, Sharjah in the northeast, and the Sultanate of Oman in the southeast. The UAE is made up of seven different emirates, Abu Dhabi, Ajman, Dubai, Fujairah, Ras Al Khaimah, Sharjah and Umm Al Quwain, with Abu Dhabi the largest. Dubai is located in a desert climate and the cooler months from November to March. The temperatures can soar up to 40 degrees or more in the summer. The capital and the largest city is Abu Dhabi while Dubai is the commercial capital and the second largest city in the UAE. The UAE has the 7th largest oil reserves and is one the most developed economies in West Asia.
How Dubai has changed economically?
During the 1990’s Dubai was little more then a village in the desert, but with surrounding oil reserves decreasing Sheik Mohammed bin Rashid Al Maktoum made massive social adjustments, which created Dubai into the social hub that it is today. Another major factor that alarmed lots of businesses and investors that there is no tax in Dubai. This has attracted lots of people and has changed form a city with just 380,00 people to a city with 2 million plus people. Another one of the sheiks aims was to change Dubai from an oil based economy to a bank and tourism based economy. This has proved very successful with oil only accounting for 6% of income to the country. However, not all is good, at the early parts of the new millennium prices of residence were booming, but in the last 4 years in some areas prices have dropped as much as 75%. Also, over the last couple of years around 261 projects have got to go on hold due to financial problems.
The other side of Dubai
Whilst Dubai has had an outstanding economic growth in the last 15 years, there still the other side of Dubai that doesn’t get advertised or get shown to the outside world. Even though Dubai and Abu Dhabi control 83.3% of the UAE’s money, however, they have 40% of people living on minimal wage. This is because there are two parts of Dubai, upmarket Dubai, where all the skyscrapers and huge development has happened, and downtown Dubai where the slums and black market is. The infamous, karama market, which is a market were you buy fake goods from any brand. This is the main way that the lower class gets their pay from.
What does Dubai hold for the future?
Trade and tourism and trade are set to grow at an alarming rate throughout the forth-coming years. These two industries helped Dubai achieve a 3.5% increase in economy in 2011. During the early part of the 2000s, Dubai largely looked to trade with the West and did so with huge success as now only 12% of the population are natives. However, now they are looking to raise their trade locally with fellow Arabs and Far East. In 2011 CB Richard Ellis stated that Dubai was ‘the trade gateway between Europe and the Asia’. They also ranked Dubai the 9th most popular place to be doing business with. Stephen Pycroft, Executive Chairman of Mace, states that ‘Dubai will once again be restored, even though the coming years for Dubai are uncertain, primarily caused by the Arab spring in the surrounding countries, such as Bahrain, Saudi Arabia and Abu Dhabi has meant that these countries and the millionaires that live there have stopped investing in their own countries and there is a growing expectation shown by a small economic upturn in Dubai, that people in these countries are investing in Dubai once more. And whilst it will never return to the glory days of the early 2000’s there is a expectation will become a area of investment and economic growth’.
Conclusion
To conclude, Dubai has developed massively over the last 20 years as it has gone from a run down village in the middle of the desert to a city that has matched feats that nobody expected. However, where some risks as the sheiks put in millions of pounds to fund the build up of Dubai and if it did not pay off then they would lose their money. This is demonstrated from the Burj Khalifa, formally names the Burj Dubai. The Sheik of Dubai put in millions to fund the project however they faced many problems and eventually he became bankrupt. So he called for the Sheik of Abu Dhabi, Khalifa, for his help so he funded the rest of the project but in return he wanted it to be named after him, hence Burj Khalifa. I believe that Dubai has been a success in development, it shows that how a city can be constructed from nothing. It also helps inhabit millions of people that otherwise may have nowhere to live. It gives a common tourism attraction for many people in the west, because of the great buildings. Or example, the Burj Khalifa, the tallest tower in the world, the Emirates mall, the largest indoor skiing center and the Dubai mall, the largest mall in he world. So was Dubai a success? I believe, yes.
Bibliography
http://www.counsellingdubai.com/where-is-dubai-located.html – 15th February
https://blog.modernwealthmanagement.co.uk/dubai-is-the-sky-the-limit/ – 15th February
Elliott's English Portfolio 
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