UAE – A Survivor by Nature

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.