Abstract
The United Arab Emirates is situated simultaneously in southern region of the Persian Gulf and on the Coast of the Gulf of Oman next to Saudi Arabia and Oman and remain the closest maritime neighbour of powerful Iran. This fact defines geopolitical importance of the country. But environment here is not conductive for economic development. It is distinguished by some of the highest temperatures in the world during warm season and by extreme humidity because of two surrounding bodies of water. It lacks permanent lakes and rivers and the whole area is prone to severe sandstorms. The native population of the UAE is rather small, what forces Emirati rulers to invite foreign workers in growing numbers. Despite domination of crude oil in foreign trade, the ruling elite took a strategic step towards service economy, what represents an interesting example to follow because of the apparent success of such policy. In this article the author makes an attempt to find out what measures at state level made the UAE the most prosperous country in the Gulf. Key words: UAE, Abu Dhabi, Dubai, airlines, free economic zones, ports, tourism, property.
Highlights
The best example that one can find in the region is represented by the United Arab Emirates with free economic zones for any type of economic activity, the top airlines, airports and ports of the Gulf, and developed construction industry that is catering the needs of expats in housing and implementing the projects for numerous international events
The UAE is not completely self-sufficient in natural gas and imports it from the “North Field” in Qatar via the 364-kilometers-long pipeline “Dolphin” that delivers the fuel to Taweelah area in the North of Abu Dhabi and satisfies energy needs of Fujairah, Dubai and neighboring Oman
Despite relatively recent diplomatic rift with Qatar and prolonged engagement in Yemen since 2015, the UAE continues to position itself as a stable, safe and prosperous country that attracts numerous investments from abroad with liberal economic policy and innovations needed to develop “green” and nuclear energy, tourism, aviation, retail trade and re-export facilities. This enlightened monarchy represents the example of man-made wonders in the desert that are within an easy reach from any region of the world, boasts the friendliest business environment in the whole MENA region and attracts talented workforce with high salaries and opportunities for shopping and entertainment as well as with ten-year visas
Summary
The best example that one can find in the region is represented by the United Arab Emirates with free economic zones for any type of economic activity, the top airlines, airports and ports of the Gulf, and developed construction industry that is catering the needs of expats in housing and implementing the projects for numerous international events.
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