Over the last three years, Dubai has shown an upward growth in the economy owing to the increase in the international oil prices and the growth of the tourism industry. However, the government still wails in debt and there are signs that the city has not yet achieved economic independence. This is a big threat and promises an economic crisis in future unless the government takes control of its spending and focuses on economic generation rather than spending, which will pose danger on its economic security.
Dubai experiences one of the most tremendous population expansions in the world. Between 2005 and 2013, the population of the Dubai Emirate grew from 1.2 million to 2.1 million, which is close to double within a period of only 8 years. The population density of the emirate is about 409 per square kilometer, which is more than 8 times that of the entire country. Just like many other countries in the world, the population of females in Dubai is slightly higher than that of the males. Dubai has a poverty rate of about 10% which is much lower than 19.5% poverty rate in the United Arab Emirates. The crude death rate in Dubai is at 1.4 while the infant mortality rate ranges at about 7 deaths per one thousand infants (Middle East Monitor, 2014). These low figures indicate that Dubai is one of the rapidly developing economies in the world, and much better than other countries in the United Arab Emirates. Economic indicators are important points of evaluating the economic development within a region. The low poverty level in Dubai is another indicator of the fact that the city’s population majorly lies within the middle class (Alajoutsijärvi, Juusola, & Lamberg, 2014). On this note, Dubai enjoys a good economic status and has a challenge to maintain this by finding ways which they can guarantee economic wellbeing in the long term.
The Dubai’s economy is dependent majorly on the oil industry. Economic