Dubai Economy Essay UAE

Dubai Economy Essay

Students often find it hard to gather information and write an essay on the economy of the nation. They often have questions about how to write, what points to include etc in an essay. Below is a sample of essays on the Dubai economy. By seeing the sample you will be able to write an essay easily. If you are still facing the issue then you can seek essay writing help from economic experts. By taking professional help you will be able to complete your economic assignment on time.

Dubai Economy Essay

Introduction

The United Arab Emirates is a federation of 7 emirates, which is located on the Arabian Peninsula. Political leadership has a sheik ruling each Emirate. Huge economic power is there in every Emirate which keeps the authority to regulate all the commercial activities.

Abu Dhabi is the wealthiest courtesy of having the largest oil reserves. Dubai has achieved the second rank in wealth and the federations’ business center. The variation in the wealth among Emirates rises from the unequal distribution of natural resources.

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Analysis of the Economy

In the 1960s, exploitation of oil deposits began. It has transformed the nation into a prosperous international economy with great importance. The economy of the UAE is anchored and driven by oil production. Its gross domestic product, therefore, is dependent on oil prices.

Economy from 1960 to date can categorize into 3 faces. The initial period ran from the mid-1970s to mid-1980. During this era, the nation saw a very high performance in economic growth. Legal authority utilizes the income generated from oil exports to invest in the social and physical infrastructure.

Oil was fetching at very good prices on the global market. After, the 1980s, there was a great decline in the economic growth of the nation. The main cause of the decrease in economic growth is the fluctuation in oil prices in the global market. This state exerted pressure on the leaders to search for options to diversify the economy.

These sectors which benefit the economy include manufacturing and inducement of private investment. Dubai particularly has experienced a decrease in oil deposits. The government diverted investments to capital expenses as these other sectors of the economy had been catered.

Revenue from oil accounted for 80 percent of fiscal income during the first half of the 1990s providing 60 percent of the total export earnings. Presently, the economy is big enough and accommodates most countries’ employment.

GDP and Economy Drivers

Dubai has an open economy with a higher per capita income. This procedure has removed restrictions on the movement of capital and has promoted investment. It leads to a sizeable surplus in the trade balance. The gross domestic product of Dubai has been increasing since 1960 when oil exploitation began.

In your essay on Dubai Economy, you should include present statistics. In simple words, you should include information about the present economic situation of the nation.

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Inflation and Unemployment

The inflation rate in Dubai is 2.4 percent. During the year 2012, it was 0.5 percent.

In this paragraph of the Dubai economy essay, you can make a comparison between the average inflation or unemployment rate previous and in the present year. You must use authentic sources for gathering information. If you are finding issues in gathering the facts and figures related to the Dubai economy then you can take help from our economic assignment writers.

Rise of Dubai

Dubai is basically a business city of UAE which has veto political power. It is basically a cosmopolitan city. The economy of the nation is supported by the oil industry. The concept of diversification began during the 1980 s, this was when oil prices became unreliable, and it was realized that oil deposits were decreasing.

Comparison with Other Economics

The inflation rate during 2010 in the US was 1.6 percent and that in the UK was 0.3. The decline in the inflation rate in Qatar was 2.4 percent down. In the year 2010, the unemployment rate was 9.6 percent in the US, and in the UK it’s 10 percent.  During 2010 there has been a 5 percent growth in Dubai GDP. It has been found that the United American Emirates is performing better as compared to bankers.

Conclusion

The overall conclusion is that UAE fits to be considered a first economy. This is guided by the way her economy is doing, the consistency of its policies that are open and do not restrict investment. The main nation’s leadership is welcome and open to world competition.

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