Dazzling Development Of Dubai
The fast-growing allure of the United Arab Emirates (UAE) as a destination of choice for expats from across the world is on record, once again. The country has just been voted as one the best places on the planet for expats to live, work and settle.
An HSBC research finds that the UAE has now enhanced its attraction as a place where expatriates can build their careers and settle down for the longer haul.
The research which surveyed expatriates in 46 countries, assessed their levels of fulfillment - be that financial, professional, personal or a combination of all three - through three key themes including economics, experience, and family.
The UAE came 10th overall, ranking fifth for economics, 20th for experience, and 24th for family. Singapore came first overall as the number one destination. Given the political stability of the country and its openness to expatriates, the UAE’s Dubai has become a destination for work and living among the top cities of the world. Many people have moved to the UAE to improve their financial prospects and earnings with the average gross personal income of seven-digit along with highest employment rate.
Booming Dubai is one of the emirates among the seven of the United Arab Emirates that was formed in 1971 as a federation of six emirates - Abu Dhabi, Dubai, Sharjah, Ajman, Umm Al-Quwain, and Fujairah, while the seventh emirate, Ras Al Khaimah, joined the federation in 1972.
Located on the southern shore of the Persian Gulf with second biggest land mass and most congested city today in the Middle East Dubai’s development took off with the discovery of oil there in the 1960s. It transformed from a small fishing village and pearling center to a regional transport and tourism center for the Middle East. Now it is home to a large expatriate community and has a well-developed tourist infrastructure.
Dubai is a world leader in smart services. Smart government and smart services vision has transformed Dubai into a global hub for business, a futuristic city ready to meet demands of the future and a delight for residents.
Thus, today Dubai has emerged as the land of opportunity much like the USA.With the right education or entrepreneurial spirit, one can turn rags to riches in Dubai where the lifestyle is similar to California of America for the most part.
Now developers keep coming to the emirate which is setting new vertical records in skyscrapers and civic amenities. Heights are second nature here since the construction of the Burj Khalifa, 829.8 metres tallest building in the world with 163 storeys. The skyscraper, beginning construction in 2004 was completed in 2010 at a cost of US $ 1.5 billion. Burj Dubai is the centrepiece of a US $ 20 billion venture featuring the establishment of a new district, “Downtown Burj Dubai,” that houses 30,000 apartments and the world’s largest shopping mall. The city of Dubai attracts property investors from around the world as residential rental yields in some areas are higher than other global investment destinations such as Manhattan, London and Singapore.
Dubai’s push to increase tourism is paying dividends as the emirate is ranked among the few global cities which attract more tourists than their population. According to the UK-based On The Go Tours, Dubai attracts 15.3 million tourists as compared to its just 2.7 million population, a swell of 459 per cent, third highest after Paris and Kuala Lumpur. Home to Burj Khalifa and the tallest hotel JW Marriott Marquis, Dubai received over 10 million travellers till June of this year achieving over double the growth, informed an official at the Department of Tourism and Commerce Marketing (DTCM), Government of Dubai.
Many festivals are celebrated in Dubai city. But Dubai’s culture is very diverse as only 10 per cent or so of Dubai nationals (Citizens of Dubai) live here. The rest are mostly immigrants who are working in Dubai. The biggest immigrant population is from India, followed closely by Pakistan and Iran. A big wave of Europeans and Americans has also flooded Dubai since 2001, mainly for career reasons.
Large shopping malls and markets are also common in Dubai. The Dubai Shopping Festival and Dubai Summer Surprises are two of the more popular ones that attract over 4 million visitors and bring in over US $1 billion in revenues every year.
Dubai authority is always looking to make the next biggest “whatever” in the world. Thus, the visitors would experience something new always than earlier visits. This scribe also experienced some changes during a visit to UAE last week enjoying holidays than in his earlier visits.
A cornerstone of social and economic development, innovation is also key to promoting economic growth. The UAE, and Dubai in particular, has set its sights on implementing today what other cities in the world will begin implementing 10 years later. Innovation remains the focal point in Dubai’s initiative and is regarded as the means to achieve future-ready city status.
Today, Dubai is at the crossroads of the world’s air traffic and a hub for logistics and travel, linking the East with the West. As Dubai stands as one of the global capitals of innovation and emerging markets for entrepreneurship this ease of access provides opportunity to businessmen globally to start up new venture in Dubai that has been actively developing national innovation strategies and frameworks to drive social and economic growth.
Experiences are yardsticks by which societies are measured. Good experiences help communities project the right image which in turn helps them improve to become role models for others to emulate. The Dubai experience is unique in terms of the accomplishments and challenges at various levels.
A fledgling emirate with scant oil resources, geographically disadvantaged with a sweltering climate and sunshine all year-round and a population with nothing great to boast about Dubai has grown by leaps and bounds which has every right to be proud of what it has attained in a short span of time. As Dubai continues on its path towards innovation and excellence, the growth of successful startups will act as an accelerator propelling the city and its tourism to new heights.