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Uae: Economics Essay

2654 words - 11 pages

U.A.E: The Success Story

The emergence of the UAE as an economic powerhouse is an example of a country going through a tremendous transformation. From a tiny country with a nomadic society to building the most modern city in the world. The city being Dubai of course. Dubai is the crown jewel of the UAE and the arab world as a whole. Now one of the most sought-after tourist destinations and business hubs for citizens of the world, Dubai’s success story has made many other Middle Eastern nations take notice. In a survey done by the Arab Youth organization, young arabs chose the UAE as “the country they would most like to move to… and the country they would most like their country to ...view middle of the document...

The Supreme Council, comprising the rulers of the seven emirates, has both legislative and executive powers. It ratifies federal laws and decrees, plans general policy, approves the nomination of the prime minister and accepts his resignation. It also relieves him from his post upon the recommendation of the president (UAE Interact). Although it is a very authoritarian system compared to countries in Western Europe and North America, the government has a very high popularity rate. This is for a good reason. The Emirati people agree with the moderate Islamic way in which the country is run. Alcohol is permitted in the country, unlike Kuwait and Saudi Arabia, which has contributed to the flourishing tourism industry in the country. Young motivated Emiratis are encouraged and supported by the government in many different ways. The national exchange program for higher studies abroad has been a huge success. Their numbers in the US had exceeded 1,400 students in various programs and studying in 48 states plus the District of Columbia (UAE cult. div.). This does not include students in Britain, Canada, Australia… etc.
In the Human Development Report done by the UN, the United Arab Emirates HDI value for 2013 is 0.827— which is in the very high human development category—positioning the country at 40 out of 187 countries and territories. The country would have ranked much higher if the human rights indicators that the UN uses did not contradict with the way of life Muslims live. In the report a Gender Inequality Index was used to rank countries. They defined it as such: “The Gender Inequality Index (GII) reflects gender-based inequalities in three dimensions – reproductive health, empowerment, and economic activity”. The United Arab Emirates has a GII value of 0.244, ranking it 43 out of 149 countries in the 2013 index. In the United Arab Emirates, 17.5 percent of parliamentary seats are held by women, and 73.1 percent of adult women have reached at least a secondary level of education compared to 61.3 percent of their male counterparts. A higher percentage of muslim women would rather be a housewife and raise children than in other parts of the world. People of the world might have the idea that women from the Middle East are oppressed without acknowledging the differences between these countries. Lopping a whole region together and assuming they all have the same mentality is frivolous. Women in general in the UAE live a very fulfilling and respectful life. The aggregate GII of Arab States is 0.545, which shows how the UAE has been able to raise the standard of life for its people way higher than their neighboring countries.

The UAE has its eyes on not only sustaining current growth after fossil fuels reserves dwindle, but to build on it. The country has spent astronomical amounts of money on the future. In 2013, the budget for education totaled more than one-fifth of the total national budget. Just last year Sheikh Nahayan bin Mabarak...

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