Newly Industrialised Countries

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Newly industrialised countries
Oil producing countries ­ Dubai
Background;
Dubai is one of the seven emirates that make up the country of UAE and is an important port of call
for foreign traders
It has the largest population in the UAE - 2,106,177
Dubai has invested in new developments, particularly technologies and has encouraged the flow of
foreign capital into the country
It has built the largest man made harbour in the world, using new building technologies, it has
constructed some of the world's tallest skyscrapers e.g. The Emirates Tower.
After being well renowned for its oil industry, revenues from oil and gas now contribute to less than
5% of the GDP. The state's current revenues are now from trade, real estate and financial services.
Tourism;
Burj Al Arab is the world's tallest freestanding hotel and the creations of
new residential development attract many foreigners.
There are gigantic shopping malls, theme parks, purpose built resorts
and sports stadiums.
One of the newest developments in dubai is the palm islands. These islands have
hotels, apartment blocks, villas, marinas, water theme parks, restaurants
shopping malls and sports facilities. Attracting major interest from the worlds
wealthiest.
Dubai GDP: $82.11 billion / £54 billion (2008)
Business
Dubai is increasingly popular for service industries such as I.T and finance. Ownership and taxation benefits
have led to many internationally known companies to establish there; Microsoft, IBM, HP, Nokia, and
Siemens. The country has also opened the Dubai Biotechnology and Research Park, dedicated to life
science industries including pharmaceuticals and biotechnology.

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