The United
Arab Emirates that is one of the richest
countries in the Gulf region was once divided into several smaller states. It
was ruled by the British and the British armies were responsible for their
security and used to get paid by the Arab Sheikhdoms of that era for their
services. However, when in December 1971, the treaty between the sheikhdoms and
the British government came to an end, Bahrain
and Oman declared their
independence while Dubai and Abu Dhabi joined hands with each other to
form a union and decided to contact other states of the region also to be a
part of the new union.
The need to join hands with each other was driven by the
fact that the states were militarily quite weak and they also lacked the
man-power to make an altogether new army. The borders were also vulnerable to
the foreign intervention as oil had been discovered in the 1960s and the states
feared that some stronger neighbor could go for an expedition to occupy the
state and ultimately the rich oil fields of the world. Thus, the states formed
a new union in 1972 and till date they have remained together and the relations
between the sheikhdoms of all the states are quite friendly. They signed a
defence contract with the US
in 1994 and another in 1995 with France and this staying away from
the war and battleships has certainly helped the UAE to grow.
Today, UAE is one of the most attractive tourists’
destinations all over the world. People from all parts of the world come to Abu Dhabi , Dubai
and Sharjah to enjoy their vacations. The business has also thrived in the United Arab Emirates and all the big
organizations have their offices in the UAE and some of them even have their
regional headquarters situated in Dubai .
One such example is of International Cricket council, which is the main
governing body of Cricket. Although UAE does not have a strong cricket team,
yet the ICC decided to shift its offices from London
to Dubai because Dubai
is totally tax-free and thus business has a lot better chances of expanding in Dubai than in any other
part of the world.
It also gives such exciting residential and commercial
opportunities in its real estate sector that hardly any other country might
think of offering. For example, Burj Khalifa, that is the highest residential
tower of the world, can not even be compared with any other thing as it is the
highest, therefore, above everyone else. And when one looks at the unbelievable
Palm Jumeirah
Islands , it is almost impossible to
find any parallels to the Dubai real estate.
The UAE has come a long way during the past 50 years. From a
bunch of tribes ruled by small sheikhdoms and protected by British army, they
have evolved into a union of seven rich states and are one of those places that
have the strongest appeal for business and tourism. It was a tough journey, but
the UAE has come through it and has succeeded and that is why experts still
believe that it has the potential of overcoming the current problems that its
real estate and overall business industry is facing. They believe that it is a
global phenomenon and the day it starts to recover internationally, UAE would
be among the first countries that will jump back to the fore-front of the world
business face.
No comments:
Post a Comment