Dubai, a fast-growing city, has the potential to grow into a city of great import in this century. Research indicates that Dubai residents stand amongst most affluent people, and this notion places Dubai in the fifth place. The reality Dubai will take some years to ascend to the first place on the basis of its noticeable development going on there.
Following lines list factors elevating Dubai to the said importance.
A City Of Migrants
One wonders what the driving force behind Dubai is. Well, it is the presence of migrants who inhabit this city to earn bread and butter. Migrants’ living standard almost matches that of locals. Surprisingly, it is not natives that have promoted Dubai to pleasant statures; rather, it is the migrant segment of polity that shines their second home to a noticeable level in all business fields.
It is the million-mark exceeding visitor count too that shores up the Dubai economy. Many holidaymakers make Dubai their temporary abode for attractions available here, and it benefits Dubai first.
Some countries don’t allow expatriates to roam their cities as their nationals do. Dubai sticks out a mile here. Today, Dubai’s position of the safe and investment-worthy city owes to the blood and sweat of the entrepreneur category of migrants hailing from the entire world.
Hundreds of ships anchor and airplanes land in Dubai. The air traffic grew to the extent that 2015 witnessed Dubai earning the title of World’s Busiest Airport. The influx of visitors from each nook and corner of the globe moves the Dubai economy upwards.
Reaching parts of Dubai is easy, security here is trust invoking, and people are free to move and buy and sell, and set up a business.
Freedom and Women Rights
Many countries have patriarch societies where women are denied space. Here women contribute to the public and private sectors.
Dubai gives space to women, and they occupy such positions that were once a preserve of men only. Laws don’t allow harassing them either.
My wife had been to city umpteen times, each time she conveyed a good impression. People respect them, and this attribute is one definition of Dubai. No wonder, not only men but also women reckon this attribute of UAE city.
Some cities content with one or two revenue fountains but Dubai sticks out a mile here. Dubai diversifies the economy least a slump in one field should collapse the economy. The diversity keeps the Dubai economy in overdrive and distinguishes it from its sister cities.
Earlier, oil production would feed the economy. However, more factors have joined hands now. Technology, estate development, tourism, and likewise are some appropriate examples of factors growing and developing the city.
The Real Estate World of Dubai
For investors and potential investors, the estate aspect of the Dubai economy is quite suitable. The Emirate of Dubai is on its way to becoming a stable business hub for the real estate business. Lofty buildings and lavish lifestyle to contribute here. Lavish apartments are good for investment owing to good ROI. Real estate is the preferred venue for investment. Even foreign governments make use of investment opportunities in this Emirate to their full.
The diversification creates opportunities for more people to avail of the investment-friendly atmosphere in Dubai, and it benefits Dubai itself. The investment trend disperses monetary benefits to both camps, the investor, and the city of Dubai.