| The United Arab Emirates are a prime tourist | | | | use alone, ensured that the oil revenue was |
| destination because they stand out as a | | | | deployed in national development. Much of |
| remarkable example of how petrodollars can be | | | | the modernization is due to the efforts of |
| used to improve the lives of Arabs. In | | | | Sheikh Rasid bin Saeed Al Maktoum, who ruled |
| contrast to the poverty for which so much of | | | | from 1958 to 1990. |
| Arabia is renowned, Dubai features | | | | |
| skyscrapers and futuristic amusement parks. | | | | Well informed of the risks of oil-dependency, |
| Modern Dubai is the product of 20 years of | | | | Sheikh Rashid actively promoted industrial |
| intensive planned development; prior to this, | | | | ventures to build his nation's |
| it was a small fishing port of little | | | | infrastructure. The Aluminium and Cement |
| importance. | | | | factory are the result of this endeavour. He |
| | | | also establised the Jebel Ali Free Trade |
| The United Arab Emirates, or UAE, is 32,000 | | | | Zone, the fifth largest free trade zone in |
| square mile political union of seven | | | | the world. Within 10 years of its inception, |
| sheikhdoms, formed when the British left the | | | | it attracted over 900 international |
| Gulf region in 1971. The total area of Dubai | | | | companies that include global giants such as |
| is approximately 1000 square miles, and it is | | | | General Motors, AEG, Aiwa, BP, Ciba, Geigy, |
| the second largest emirate in the UAE, after | | | | Daewoo and Heinz. |
| Abu Dhabi. In addition to a federal president | | | | |
| and prime minister, each emirate has a | | | | Dubai is appealing to tourists as well as |
| separate ruler who oversees the local | | | | business executives. Like the rest of the |
| government. Dubai, a small fishing | | | | U.A.E., it has also been actively promoting |
| settlement, was taken over around 1830 by a | | | | itself as a vacation destination. In June |
| group of Bani Yas tribesmen from the Liwa | | | | 1996 World Travel prizes ceremony held in Las |
| oasis, led by the Maktoum family which still | | | | Vegas, USA, it won the gold prize for the |
| rules the tiny nation today. For most of its | | | | best destination in the Middle East. |
| history, main economic activities were | | | | |
| agriculture, fishing and pearl production. | | | | Dubai features the annual Dubai Shopping |
| | | | Festival, the Dubai World Trade Center which |
| The ruling clan of Dubai was exceptionally | | | | hosts innumerable international events and |
| progressive, and did their best to make their | | | | fairs, the Dubai Air Show, the Dubai Summer |
| tiny nation attractive to traders from | | | | Surprises, the world's tallest skyscraper, an |
| nations including India and Persia. These | | | | undersea hotel and even indoor alpine skiing |
| businessmen settled in the growing city of | | | | at the Ski Dubai Dome. |
| Dubai and made it a leading entry port for | | | | |
| trade goods. In 1971, the independent | | | | The Dubai International Airport is reputed |
| emirate joined with the other small | | | | to be the world's second best transit |
| sheikhdoms of Abu Dhabi, Sharjah, Umm Al | | | | airport. It currently handles 7.3 million |
| Quwain, Fujairah and, in 1972, Ras Al Khaimah | | | | passengers per year with a growth rate of 12% |
| to create the federation of United Arab | | | | that is double that of any other airport in |
| Emirates. | | | | the world. The emirates, which will begin |
| | | | receiving Airbus A380 superjumbos starting |
| The discovery of oil in 1966 transformed the | | | | April 2007, will hire 8,000 new staff members |
| region by providing funds for the development | | | | as cabin crew for its rapidly expanding air |
| of a modern, western infrastructure. The | | | | fleet. It is investing $20 million to expand |
| Maktoum family, unlike many middle eastern | | | | its crew training facility at the Emirates |
| rulers who hoard oil wealth for their private | | | | Training Center in Garhoud. |