All about the Magical City Dubai!
Dubai is situated on the Arabian Peninsula’s eastern coast and in the Arabian Gulf’s southwest corner.
The Sultanate of Oman is to its southeast. After the Emirate of Abu Dhabi, which is located to the south, Dubai is the second biggest emirate in the United Arab Emirates (UAE). Sharjah, the UAE’s third-biggest city, lies 18 kilometers to the northeast.
Dubai, one of the world’s fastest developing cities, serves as the country’s main financial and trade center. Dubai has grown as a significant global commercial center linking markets all over the world, thanks to its strategic geographical location and “excellent infrastructure.”
In addition to its efficient infrastructure, Dubai has established economic policies and a legal framework that have allowed over 20,000 foreign firms to operate there. 14 In addition, in preparation for hosting the Expo 2020 trade show, Dubai is investing considerably in infrastructure and hotel developments. The expansion of the Al Maktoum International Airport, which is expected to cost $8 billion, is one of them.
Industry
The economy of Dubai is heavily built on natural resources. However, in the latter part of the twentieth century, Dubai’s rapidly expanding knowledge-based and services economy quickly equaled and nearly replaced its oil revenues. Currently, commerce, logistics, financial services, hospitality and tourism, real estate, construction, and manufacturing account for over 90% of Dubai’s commercial activity. There are initiatives under the Dubai Industrial Strategy 2030 to boost the industrial sector to provide more jobs for Emiratis. By 2030, 75 important activities are expected to produce income of up to US$44 billion, create 27,000 employments, and increase exports by US$4 billion.
Aerospace, aluminum and fabricated metals, food and beverage, machinery and equipment, marine, pharmaceuticals, and medical equipment are the six key industrial sectors highlighted.
Tourism
Dubai has a wide range of attractions to offer travelers. The Dubai Museum, for example, is housed within the Al Fahidi Fort and provides insight into Arabian culture. Visitors may also explore the city’s varied landscapes, archaeological sites, and The Creek, a natural sea-water inlet that runs through the city center and serves as the “focal point of life in Dubai.” The Burj Khalifa, Dubai Mall, and Palm Jumeirah are among the city’s most popular attractions.
Dubai has established vast, world-class hospitality and tourist facilities to accommodate expanding visitor needs. The Al Maktoum International Airport, one of the world’s busiest airports, handled 88.2 million passengers in 2017. Plans are in the works to begin the construction of a new airport 65 kilometers to the south.
Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. PropertyPistol does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.
