In accordance with Rehman (2007), located in the heart of the Middle East region, the United Arab Emirates (later referred to as the UAE in this document), consists of seven aligned states merged together to formulate the United Arab Emirates. The seven independent states…
Being close to trading economics of the South East Asia, UAE forms a platform for the Asian countries to move across the globe towards European states. UAE has a strategic location advantage compared to other Gulf or Asian states. The economy heavily relies on the expatriate population mainly coming from India, Bangladesh and Pakistan. There is also vast population built up of the East European states and of late, UAE has also emerged as a tourism state where various forms of art and architecture has bloomed in addition to the heritage of the veteran Arab techniques.
According to Khan (2007), the standard of living in the UAE is counted on the higher side and comparable to any lavishing global standards of living. With such an extra ordinary fashion of living and tourism growing from across the world – for the past three years the figures of tourists are beyond 700,000 – UAE has emerged as a global economy with people, products and services combining from across the world to this region. Vercic (2003) suggests that the markets are business friendly and welcoming ones, and the economy is open for options and investment; markets are liberal and growth oriented, and this tends to attract majority of the investors globally along with the big brands wanting to invest and have their business locally in the emirates region. The higher sense of security both in terms of the street-security as well as the safety in terms of investments provide a really good ground for individuals and corporations to put in their money. Dubai has been the market to look out for, for both consumers and investors.
According to Elsheshtawy (2009), up till the mid of the 2000s, UAE was quite low when it came to economic indicators such as debt, inflation and unemployment; however, with the recent global financial crunch melting down its ice towards the Middle East region, Dubai has suffered to an almost state of bankruptcy, and was then ...
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