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Starting a Business in United Arab Emirates - Essay Example

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Starting a Business in United Arab Emirates

It is currently ranked the thirty-first in the world (UNDP, 2009) According to the International Monetary Fund, the UAE currently boasts of about $ 200 billion in purchasing power parity (IMF, 2009).
UAE was in the past known by the name Trucial Oman or Trucial States until 1971. This was in reference to a truce between a number of Arab Sheikhs and Britain in the nineteenth century. The federation was also known as Pirate Coast between the eighteenth century and the early years of the twentieth century due to the emirates in the area.
The UAE culture boasts of a very rich blend Islamic, contemporary and traditional Arab elements. After the state was founded, numerous educational opportunities in both public and private cultural centers emerged. This helped preserve the rich heritage of the country and at the same time promote cultural awareness.
UAE has an expansive coastline, varied landscape, sandy beaches and many other pleasant sites. Consequently, people can engage themselves in various activities ranging from sand skiing to powerboat races. The UAE also has well manicured golf courses that provide enjoyment for those who prefer less active sports. It also has plenty of shopping opportunities.
Moreover, the country has a very rich cultural heritage that can be accessed in a variety of cultural centers. It also has traditional sports like horse racing, camel racing, and falconry, which has helped in attracting tourists. The country has become a venue for international and regional sports events, exhibitions and conferences. Among the sporting events held in the country include cricket and polo, World Powerboat Racing, the Desert Classic Golf Tournament, and Dubai World Cup competitions.

Attitudes and beliefs
The UAE is a land of great opportunities and its people believe in hard work. It has very few cases of crime, a clear indication that the people have a high sense of integrity. The rich blend of contemporary, Islamic and traditional Arab elements makes brings in a variety of attitudes and beliefs. The high level of security as well as the attitudes and beliefs of the people of the UA ...Show more

Summary

The UAE or United Arab Emirates refers to a seven emirates federation located on the renowned Persian Gulf in Southwest Asia. It falls on the southeastern part of the famous Arabian Peninsula and borders countries such as Saudi Arabia and Oman. The seven states are commonly referred to as emirates and include Umm al-Quwain, Sharja, Ras al-Khaimah, Fujaira, Dubai, Ajman and Abu Dhabi.
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