Growth in 21st Century - Dubai Flashcards
Describe Dubai
Lies on the Persian Gulf + is one of the states that makes up the United Arab Emirates
Why is the location important?
Important port of call for foreign traders esp India
When + why did its economy boom?
Economy boomed with discovery of oil in 60s = influx of foreign workers
How much did the city grow?
grew by more than 300% tween 68 & 75
What has it done to widen the base of its economy?
Invested in new developments esp new technologies + has encouraged flow of foreign capital into country
Where does most of the cities revenues come from?
Trade, real estate + financial services
How much revenue is from oil + natural gas now?
Less than 5% of GDP
How has it promoted tourism?
Construction of Burj Al Arab
Promoted building of gigantic shopping malls, theme parks + sports stadiums
New development = Palm Island: will have apartments, hotels, shopping malls + sports facilities
What is business like?
Increasingly a hub for service industries such as IT and finance with new DIFC
Dubai internet city = taxation benefits = many international companies being established
Recently opened Dubiotech = dedicated to life science
Social Problems
Vast numbers of immigrants
Poor working conditions
Sex trade ↑
Passports are taken by employers on arrival
Live in poor conditions in tent cities out of actual city
Environmental Problems
High electricity costs + ↑ carbon emissions
Water more expensive than oil(because it’s a dessert)
Nuclear waste
