Surface temperatures exceed 50 degrees, luxurious skyscrapers, and shopping malls
Police drive supercars, top luxury cars, luxury hotels
Set to become a global destination for wealthy immigrants by 2024
Oil accounts for only 1% of GDP
Faces dark side: foreign workers abused, breeding ground for gangsters and drug traffickers
Structure of the UAE
The UAE is composed of seven emirates: Abu Dhabi and Dubai are the main economies
Each emirate has a high degree of autonomy
The President of the UAE is the ruler of Abu Dhabi, and the Prime Minister is the ruler of Dubai
Dubai's Development History
In the 19th century, lacking significant oil, mainly relied on pearl diving and piracy
Became a trading port under British rule
Economic shock in the 1930s, a small fishing village after WWII
Turning Point
Formation of the UAE in 1971, uniting the emirates
Oil discovery fueled the economy
Visionary Sheikh Rashid promoted infrastructure, developing ports using geographical advantages
Economic Strategy
Attract foreign investment and talent through legal and cultural alignment
Opened up women's education and work rights, permitted drinking alcohol
Free zone policy to attract foreign investment and entrepreneurs
No personal income tax, attracting wealthy immigrants
Challenges
Global money-laundering hub, government turns a blind eye
Human rights issues of foreign workers, poor working conditions
Facing competition from other Middle Eastern cities
Future Development
Dubai has achieved success in global commercialization and tourism
Emirates Airlines is a major driving force
Faces fierce competition from neighboring countries like Saudi Arabia, Qatar
Dubai faces challenges in sustainable development and diversified competition in the future
Summary
Through its unique development strategy, visionary leadership, and geographical advantages, Dubai has transformed from a desert city into a globally renowned luxury capital
Faces many challenges and competition, requires continuous innovation and development in the future