Is UAE one of the most advanced and fastest emerging countries in the world today?

28 04 2009

You may have heard of the opulence of the 7 star Burj Al Arab, the tallest structure (building, tower, and whatever else you can think of) on Earth the Burj Dubai, and all sorts of biggest, best, greatest and other superlatives.

Now even in terms of consumerism for the elites, UAE leads the world.

I found this excerpt interesting
http://www.marketresearchworld.net/index.php?option=com_content&task=view&id=2053&Itemid=77

“WHO IS CURRENTLY BUYING DESIGNER BRANDS?

One in four global consumers (21) said they currently buy designer brands.

Currently, three in seven (31%) of consumers in UAE and Hong Kong say they buy Gucci-branded products. The small nations of UAE and Hong Kong are the two most famous shopping meccas on earth and it’s no surprise that their shopaholic, image-conscious citizens are among the biggest fans of luxury goods today. Their geographical location also means they benefit directly from “shopping tourism” – Dubai attracts the wealthy shopping elite from neighboring Saudi Arabia and Hong Kong attracts the new wealth from China. “Shopping is a way of life in these countries and luxury brands are an essential part of the population’s wardrobe, even if it comes in the form of a key chain,” said Dodd.

Consumers in Hong Kong are currently the most likely to buy Gucci, Burberry and Louis Vuitton more than any other country. UAE consumers topped global rankings for currently buying Christian Dior, Versace, YSL, Givenchy and Calvin Klein.”

UAE is fantastic, just mind boggling!


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4 responses

11 12 2009
Ahnaf

In light of the bailout of Dubai’s toxic assets by the Emirates, doesn’t this suggest weakness in the state’s economy?

27 12 2009
tawhid1982

“ForeverIsMyName” a.k.a Ahnaf,

The weakness in the economy of the United States was manifested amply by the trillions of dirhams spent to bail out its major banks and other financial institutions.

Dubai has its share of weaknesses, particularly the ultra-high level of interdependence on USA and other western financial markets, and personnel to run and man its various industries, media, financial sector and the use of such cultures and systems as the basis of its “growth model” which led to a temporary “hiccup” in the mindblowing growth rates achieved by Dubai.

If Dubai were to extricate itself from its linkages to such inane systems (as the usage of the stock market for raising capital for one, where share prices rise or fall based on news, rumours or hearsay – essentially turning such forms of capitalism into nothing more than casinos), it could reach its full potential.

As it stands, Dubai still has the longest automated driverless metro system with free Wi-Fi access, over 90% of foreigners in its resident population (unmatched by any Western country), the largest airport being built in the world (capable of supporting 120 million passengers),
some of the largest ports and airport operators, largest Duty Free Shopping, tallest structure on earth, tallest hotel, most luxurious 7-star hotels are actually located in Dubai and Abu Dhabi, not to mention various free zones and industrial clusters.

Dubai Media City, Dubai Sports City, Dubai International Financial Centre, Dubai Knowledge Village, Academic City, DubaiLand are just a few of the many marvellous projects visible in the horizon of Dubai.

The world’s first carbon-free city of Masdar is undergoing construction in Abu Dhabi, Zayed University and Masdar Institute of Science & Technology are up and running, with billions in investments.

UAE has even had its first satellite launch recently thanks to Russian cooperation in the form of a Dnepr rocket as a launcher in Kazakhstan.

Extricating itself from the clutches of western fuelled ignorance, backwardness, incest, paedophilia, homosexuality, barbarity should be the major predicaments to watch out for for the rulers of Dubai and UAE.

12 01 2010
Ahnaf

But that is just the point – that Dubai’s economy is completely tied up with the Western economies of the world, and that to separate itself will cause (albeit necessary) pain. There is no easy way to do it.

26 01 2010
tawhid1982

That is a flaw in Dubai’s strategy to unnecessarily tie its economy and fundamental scientific and technological establishments to the misguided wholly immoral western world.

Other than that, the meteoric rise and visionary leadership of Sheikh Mohammad bin Rashid Al Makhtoum to transform Dubai into a leading centre for everything from finance to business, conferences and exhibitions to holiday destination, and a centre of “hi-tech” infrastructure and industries is perhaps unmatched in the whole world.

And if we are to believe some of his words on his plans for Dubai, then Dubai has not even achieved 10% of what it can!

The same holds true, more or less, for the entire United Arab Emirates in general to a large extent.

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