Major Business Sectors That Call The UAE Home
The United Arab Emirates represents one of the greatest success stories of the late 20th and early 21st centuries. This region has turned its newfound wealth towards industry diversification, infrastructure development, and education and has become one of the premier locations in the world for the jet-set crowd and regular holidaymakers.
But just what sectors is the UAE investing in today, and what does it have to show for its commendable work? Below we’re taking a rundown of just three of the most prominent examples of this region’s commitment to emerging as a powerhouse of technology, transport, and design.
With all the glitz and glamour of Dubai’s glittering towers, and Abu Dhabi’s luxury racetracks, people can be forgiven for assuming this is a region more concerned with appearances than real development – but the reality couldn’t be further from this notion.
Few sectors have become as closely associated with the UAE’s global image than aviation. The region is home to not one, but two of the world’s most prominent long-haul business and freight aviation firms in the form of Emirates – based out of Dubai, and Etihad Airways which calls Abu Dhabi home.
Positioned as they are in between the major transport hubs of East Asia and Europe, the entire region has emerged as a crucial link in long-distance air travel. While this was initially a story of European and American airlines finding friendly countries' en route to their destination for refuelling, increasingly, the UAE has come to adopt a role as a leader in this industry.
In fact, Etihad and Emirates account collectively for some 2500 long-haul global flights per week to over 200 unique destinations.
The UAE has taken a proactive and multipronged approach to diversifying its financial base away from fossil fuels, and emerging as a leader in high tech and finance is among its greatest success stories.
Taking the long view of the region, the Arabian peninsula has long served as a trading hub connecting east with west, and as such, it’s only fitting that one of the leading names in modern online trading Equiti, is based out of the Emirates.
Yet this name, which has distinguished itself, particularly in the field of Forex, is but one of the success stories to emerge from the region’s start-up-friendly tech hub. The UAE has increasingly come to be seen as one of the world’s leading hotspots for Fintech, with the likes of NOW Money, Bayzat and Tabby all innovating in the field and attracting global investment.
For many people, the first they had even heard of Dubai and the Emirates came in the early 2000s with the arrival of Dubai’s first wave of ultra-ambitious construction projects.
From the sail-like hotel, the Burj Al Arab, to the first of a series of artificial reefs in the form of the Palm Jumeirah, the region has put itself on a map as a hub of engineering and pioneering construction. And this is without mentioning its crowning glory –the Burj Khalifa, the vast building that became and remains the world’s tallest to date.
The UAE, like the rest of the Arabian Peninsula, has had to get creative in order to master the desert sands and scorching heat of the region. This has resulted in it taking a forward-thinking approach to design and construction that has led to becoming a world leader in the field.
Due to land-reclamation techniques, Dubai’s coastline today is now double what it was at the turn of the millennium, ensuring more people than ever can benefit from sea-front property and the cooling effects of the ocean breeze.
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