The paper "Economic and Structural Development of Dubai through Expo 2020" is a great example of a macro and microeconomics research proposal. A global exposition or simply expo is a world event where people from different parts of the globe come together to a specific city of a certain country to show their arts, goods, services and advance their countries (Heller, 2014). Expos have been in existence since when trading began. However, the current system of world fairs began in the eighteenth century. Problem Statement The economic development of Dubai is important for Gulf of Persia.
This is because Dubai is an important city in the global economy and the Gulf of Persia too. We intend to find ways in which the Expo 2020 will help raise the current economic status of Dubai to advance it more. This will help it utilize the opportunity of hosting the expo. Background Information Dubai is a city that is an emirate of the United Arab Emirates and is situated southeastern coast of the Gulf of Persia. The United Arab Emirates has seven territories or emirates with Dubai and Abu Dhabi have veto powers.
It has the largest number of people in the country and is the second greatest territory. The greatest territory is the federal capital, Abu Dhabi (World Gazetteer, 2014). As a monarchy that is controlled by a constitution (Helpline Law, 2014), Dubai was founded by Rashid bin Saeed Al Maktoum (Zahlan, 1978). It has an area of 1,114 km2 and a population of about 2,269,000 as of August 2014 (Dubai Statistics Centre). In 1971, Dubai together with Ummal Al Qawain, Abu Dhabi, Ajman, Fujairah and Sharja formed the United Arab Emirates with Ras Al Khaimah joining in 1972.
A UAE dirham was adopted in 1973 leading to the dissolution of monetary union with Qatar. The Gulf War in 1990 led to the financial problems of the city. Investors withdrew from the city. However, in late 1990s foreign investors and traders began flooding from other countries like Kuwait even during the war. Dubai has its own judicial system different from the federal judicial system (Gulf Law, 2014). The legal system is Islamic with emphasis on Sharia law and Islam codes of conduct and lifestyle.
Most of the residents of Dubai are not Arabs. Most are expatriates from other countries. According to the constitution of the United Arab Emirates, Islam is the state religion of all emirates in the union. Hence, Dubai’ s religion is Islam. However, there are religious groups in the country that worship in private homes or houses of worship. It is has emerged as an important economic point both in the region of the Persian Gulf and around the globe (Amburn, 2008). It is a major transport and cargo center in the region.
It began getting revenue from oil as early as 1969 (Sampler & Eigner, 2008). This led to the early expansion of the city. However, these reserves are partial hence the production of petroleum slow. They currently account for 2% of the revenue (DiPaola, 2010). In addition, it is an important transport center with an Airport, Jebel Ali Airport and a seaport too. There various information technology companies operating there like HP, EMC Corporation, Microsoft, Oracle and IBM. There are international media companies too like CNN, AP, Reuters, BBC and financial services companies.
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