Dubai and it Rapid Transformation - Report Example

Dubai Dubai is one of the few cities in the world that have experienced a very rapid transformation. Today it is atourism, trade and logistics center and is recognized as the gateway between the east and the west. It is also considered as the dynamic center of the Arabian Gulf region. It is the place where people can make their dreams come true. Developmental projects including the Middle Easts first indoor ski resort, a seven star hotel that has been built in the shape of an enormous sail, the tallest building of the world and the first hotel that has been constructed underwater speaks of its glamorous lifestyle and proves it to be an ideal tourist spot. It is for this reason that Dubai’s industry is attributed to be the biggest and the most successful one. The journey from a small fishing port where people used to come to trade gold or in search for pearl to one of the greatest business hubs has been exceptionally over whelming (Veselin). Dubai has managed to develop so fast due to the application of effective policies while other states of the UAE have failed to follow the same pace despite achieving independence at the same time. The society and economy of the United Arab Emirates (UAE) changed after the oil discovery of 1950’s. Abu Dhabi was the first state to export oil in 1962 as its ruler late Sheikh Zayed was prompt in realizing the potential of the oil industry. Due to the growing oil industry, there was a large in flow of oil revenues and foreign labor from various parts of the World. UAE took advantage of this magnanimous influx and diversified its economy into tourism, business and construction so that it could reduce its dependence on oil exports. It also made use of revenues from oil exports and invested in education, infrastructure and health so that people could live a better life. While Abu Dhabi was slow to diversify, Dubai followed a very aggressive strategy of diversification, particularly during 2000’s credit boom. The plan of constructing outstanding projects enabled it to attract huge amounts of foreign investment. For example the Burj Khalifa skyscraper which is considered to be the World’s tallest building and Palm Islands which is an important reclamation project (United Arab Emirates Profile). Dubai, without any doubt has one of the fastest growing tourism industries in the world, where visitors come all around the year, from all parts of the globe. This is due to the well planned marketing efforts of the department of tourism such as hosting delegates from abroad to inform the world about Dubai’s tourism offerings. The hotel sector is also dedicated towards greener initiatives where its focus is on the sustainable development. A recent example is the launch of the Dubai Green Tourism Awards which has made marveling improvements possible to systems and services initiatives including both internal and external changes such as energy conservation, waste recycling and environmental awareness campaigns. It has also been made sure that all the hotels are upgraded to meet new minimum standards so they reach the world class standards and these standards are developed after comparing the standards with countries such as US, Australia, Spain and South Africa. Hence, it can be said that the combination of high quality hospitability, world class attractions and unique infra structure enables it to have an edge over other tourist destinations. The geographical advantage and the fact that it is also surrounded by sea give it an ideal opportunity for the cruise terminal. Dubai’s tourism sector has maintained steady growth over the years due to all these factors and especially due to the strong support and guidance of its visionary leaders (Abdul). Dubai is classified as one of the best shopping destinations in the world, giving the World class brands an opportunity to give an access to their products to the tourists as well as to the locals. This also gives the locals a vast array of products available at their disposal. Retailers do not have to worry about space as Dubai’s management keeps on bringing new mall projects every now and then. All retailers have to do is to show some patience until the new project is completed. The whole idea of shopping is to give visitors a unique shopping experience through entertainment, contemplation and leisure. Over the last three years, Dubai has come up there with London, New York and Paris as a destination where global retailers are most densely situated and where the presence of international brands in most prominent. It is expected that soon it will come to neck to neck competition with London (Nair). Also, Dubai’s ability to bid Expo 2020 will make this industry flourish further and it is likely to witness significant growth (Croucher). Furthermore, some of Dubai’s policies such as tax free environment, provision of free zones for the development of industries, ambitious mentality and little government intervention make Dubai very efficient in making things happen (Vesilin). Dubai’s growth and increased access to and from the rest of the world mainly occurred after the inception of Dubai International Airport in 1960. New routes have been announced by Emirates Airline all the time, which has given tourists a convenient way to visit Dubai. The airport is now the second busiest airport in the World. According to the statistics from the airport, in its first year it had 42,800 passengers. In 2012, it had 57.8 million passengers. Currently, there are plans to expand Terminals one and two. Estimates for 2020 for the existing airport and Dubai World Central are as high as 103.5 million passengers every year (Croucher). These figures do give an idea of how Dubai’s popularity as one of the World’s most favorite tourist, commerce and living destination has evolved since its independence up till now and in future. Dubai was hit by the 2009 global financial crisis. The property sector and construction went into decline. However, the performance of the tourism industry and the trade and the retail sector remained impressive (United Arab Emirates Profile). It is also one of the best cities to live in as it provides the best education, health, housing and employment facilities. The city has grown too big and at a fast pace, so the only thing that can hinder sustainable development is the inflation rate which is expected to rise vigorously. However, the people in the industry have no fear with regards to growing inflation as the city has been expanding continuously for thirty years and there has not been any significant downfall (Vesilin). In conclusion, it can be said that Dubai’s success does not just depend on any one important factor. It has rather resulted due to a series of committed and serious policies that have been implemented in a consistent and effective manner to make it a significant economic hub in the world. This could not have been achieved by only investing in tourism, construction or business sector. The amalgamations of the implementation of effective strategies policies in all these sectors has led to the results that no one could imagine. Its favorable geographic location, excellent infrastructure, outstanding hospitality facilities and its range of attractions for tourists, make it a top choice destination for visitors. As a result there is an increased confidence amongst investors despite increasing inflation that the economic activity will continue to flourish until these policies are in line and implemented effectively. Thus, Dubai has maintained its path of success following the latter half of the twentieth century. Work cited Abdul Rahman. "Dubai & Sharjah." Dubai Continues Growth as Tourism Hotspot. N.p., Oct. 2010. Web. 18 Nov. 2014. Croucher, Martin. "Tourism to Drive Dubai to Greater Heights The National." Tourism to Drive Dubai to Greater Heights The National. N.p., 4 July 2013. Web. 18 Nov. 2014. Nair, Manoj. "Mall of the World and Deira Islands - What They Really Mean to Dubai." Newsletter. N.p., 7 July 2014. Web. 18 Nov. 2014. Veselin, Alexandra. "How Did Dubai Blossom and How Did It Transform Itself?" Softpedia. N.p., 9 Dec. 2005. Web. 18 Nov. 2014. "United Arab Emirates Profile." BBC News. N.p., 1 July 2014. Web. 16 Nov. 2014. Read More