Economic Vision of the UAE

Abstract

When the rulers of the Trucial States combined resources to form the UAE, a union was conceptualized in which all citizens living in any of the seven emirates benefitted from the wealth generated by the country’s natural resources. The leadership invested in each of the emirates by establishing the physical and social infrastructure enabling each emirate to use its own unique resources to build its own local economy and eventually contribute back to the national GDP. This chapter gives an overview of the UAE economic vision then examines the subeconomies of each emirate illustrating the opportunities and challenges for economic grown in each. The emirate of Abu Dhabi , containing the capital city serves as the political center of the country. The emirate of Dubai is known for its commercial development. The emirate of Sharjah is known for cultivating Arab and Islamic culture. The emirate of Ajman is opening its commercial potential and expanding foreign investment potential. The emirates of Ras Al Khaimah, Fujairah, and Umm Al Quwain have begun efforts to expand tourist attractions specializing in ecotourism showcasing the geographic attributes of each region including mountains, coastlines, and unspoiled nature areas.