ALM

OUR STAY OF THE DAY: DUBAI

Scroll down to content

One&Only Le Saint Géran - View

 

 

Dubai (/dˈb/ doo-BYEArabicدبي‎ DubayGulf pronunciation: [dʊˈbɑj]) is the largest and most populous city in the United Arab Emirates (UAE).[5] It is located on the southeast coast of the Persian Gulf and is the capital of the Emirate of Dubai, one of the seven emirates that make up the country. Abu Dhabi and Dubai are the only two emirates to have veto power over critical matters of national importance in the country’s Federal Supreme Council.[6][7]The city of Dubai is located on the emirate’s northern coastline and heads the Dubai-Sharjah-Ajman metropolitan area. Dubai will host World Expo 2020.[8]

Dubai emerged as a global city and business hub of the Middle East.[9] It is also a major transport hub for passengers and cargo. By the 1960s, Dubai’s economy was based on revenues from trade and, to a smaller extent, oilexploration concessions, but oil was not discovered until 1966. Oil revenue first started to flow in 1969.[10] Dubai’s oil revenue helped accelerate the early development of the city, but its reserves are limited and production levels are low: today, less than 5% of the emirate’s revenue comes from oil.[11]

The Emirate’s Western-style model of business drives its economy with the main revenues now coming from tourism, aviation, real estate, and financial services.[12][13][14] Dubai was recently named the best destination for Muslimtravellers by Salam Standard.[15] Dubai has recently attracted world attention through many innovative large construction projects and sports events. The city has become iconic for its skyscrapers and high-rise buildings, in particular the world’s tallest building, the Burj Khalifa. Dubai has been criticised for human rights violations concerning the city’s largely South Asianand Filipino workforce.[16] Dubai’s property market experienced a major deterioration in 2008–09 following the financial crisis of 2007–08,[17] but the emirate’s economy has made a return to growth, with a projected 2015 budget surplus.[18]

As of 2012, Dubai was the 22nd most expensive city in the world and the most expensive city in the Middle East.[19][20] In 2014, Dubai’s hotel rooms were rated as the second most expensive in the world, after Geneva.[21] In 2013, U.S. global consulting firm Mercer rated Dubai the best place to live in the Middle East.

https://en.wikipedia.org/wiki/Dubai

 

-Travel and Leisure
All About Auspicious Living

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: