Market Analysis- United Arab Emirates Located in Western Asia at the South-East end of Arabian Peninsula on the Persian Gulf is the oil-rich economy viz. United Arab Emirates (UAE). The demographic of the economy consists of 11.6% Emiratis, as much as 59.4% South Asian (including 38.2% Indian) and 29.1% others (2015 est.). The economy constitutes young population with majority of the population between 25-54 years of age (61.27%) and about 96% are aged below 54 years of age. Dubai, Abu Dhabi and Sharjah account for 85% of the total UAE population. UAE is 16th most competitive economy (Global Competitiveness Report) and is ranked 26th in ease of doing business (Doing Business 2016). The standard of living in UAE is one of the highest in the …show more content…
The real value of the tourist receipts rose by about 9% and is expected to increase by about 7% going forward. The non-oil sector has steadily expanded as part of intended diversification in the economy especially Abu Dhabi which is under diversification program i.e. boosting non-oil sectors of its emirate, as on date accounts for 48% of the total GDP. UAE has attracted about $74 billion FDI over last 4 decades, second highest among Arab countries after Saudi Arabia. Also, the economy is inclined towards increasing the manufacturing sector apart from the oil industry. The manufacturing sector accounted for about 10% in its GDP, however, projected a growth of 7%. The government derives about 65% of its revenues from oil sales at the moment. E-commerce ecosystem in UAE: UAE is known for its brick and mortar shopping (mall shopping) in world. However, retail online sales accounts for about 1.5% of the total retail sales which is mainly inclined towards electronics, computers and jewellery (including watches). It’s observed that 46% of UAE online shoppers are from Dubai. 34% of the population does online shopping between 3-5 times a week. Following points are in support of E-commerce in UAE is an untapped potential industry: a. The e-commerce market as on 2014 was valued at $2.5 billion which is expected to touch $10 billion by 2018 and $20 billion by 2021. b. As per McKinsey and Company,
Dubai with all it's wealth is not wealthy because of their technological knowledge and inventions causing their advancements wealth wise, but only because other races of people from outside their country came in discovered their oil, established oil drilling and oil refineries that later the leaders of Dubai nationalized and took over the oil operation from the outsiders keeping the preponderance of the profits from the sale of oil for themselves and their people. If it wasn't for the oil they would be just another group of poor none white people.
United Arab Emirates occupies a total area of about 83,600 square kilometers (32,400 square miles), along the south-eastern tip of the Arabian Peninsula between 22°50 and 26°N and between 51° and 56°25 E. The UAE has 1 318 km of continental coastline along the Persian Gulf. The inflation rate, exchange rate and currency stability are important factors to consider in International trade, economically, the UAE has a 4% of GDP growth in 2012 with a lower inflation rate of 1.1%, In terms of days and cost of import procedure (United Arab Emirate). The Urbanization rate of the region is 84% (UAE) which would contribute to the product awareness in necessary part of the region since the urbanization rate is high. The common languages in
The city of Dubai is situated in the heart of the Arabian Peninsula. Part of the United Arab Emirates UAE, this city-state is aspiring to be major metropolis and the most populated in UAE with a population of 2.1 million approx. Dubai is also one of the richest economies of the world with ‘an estimated per capita income of $37000/-’10
This study will prove that e-commerce has grown because it adds value to people’s lives. It will show that e-commerce will not disappear but evolve into something even greater than what it is right now.
Dubai is one of the world 's fastest growing economies. It is the most populous city in the United Arab Emirates (UAE), and it is one of the seven emirates that make up the country. It is a busy city with lots of businesses and opportunities. Like every city and country around the world, Dubai has its own culture and etiquette policy in business regarding clothing, greetings, conversation, dining, and gifts.
Now known as a tourist destination like no other, Dubai was once a small fishing and pearling community of close to 1,200 people. Appearing regularly in Western pop culture, such as, movies, music, television shows, and advertising, the city of Dubai has come a long way from its humble origins. The purpose of this paper is to look at what contributing economic and cultural factors, throughout history, that have contributed to the explosive growth of Dubai, with the early establishment of trade being a key feature. To fully understand the scale of development that has taken place, it is required to understand some of the history that has led to its current status as a leader in the Arabian Gulf regional economy and a luxury travel destination.
The United Arab Emirates is one of the most important tourist destinations in the region. The Arab spring had a very minor effect on the country’s tourism as it did not have a revolution but tourists in countries such as the Americas and Eastern Asia and some European countries were still slightly worried to visit any Arab country as it could be hit by the domino effect of the Arab Spring. UAE is not a neighboring country of any of the countries that had revolutions but it is in the same region.
Online shopping provides consumers with and experience of sensation. Making payments or shopping can be done everywhere and anywhere as long as there is an internet connection. The internet allows customers to do shopping online anytime and anywhere, which means customer can browse and shopping online 24-hours a day, 7 days a week from home or office, which attracts some time-starved shoppers come to Internet for save time to searching products in physical store. Additionally, Internet offers some good ways to save money and time. For example, shoppers do not need go out to the physical store and thus there is no transportation
The economy in the United Arab Emirates has experienced substantial increases in the last 40 years. The UAE’s capabilities with the pearling and oil industries have given the region its necessary budgets to expand so rapidly. The economic policies in the UAE have gone through stages, since the birth of the region in 1971. Changes in economic welfare of the markets, and privatization policies are also key aspects in understanding the UAE’s economic liberalization and growth. In order to understand the UAE’s economic standard, economic liberalization must be analyzed. The argument of this paper will discuss how economic liberalization has occurred in the United Arab Emirates and is continuing to grow.
The UAE is one of the riches nations in the world as measure by per capita GNP. The economy is primarily based on the oil
United Arab Emirates has become one of the most wealthy and well known countries in the world. Abu Dhabi is the capital of the United Arab Emirates, Abu Dhabi is known for receiving their wealth from oil pockets in
Next we should discuss some of the similarities and contrasts between the two countries. the most important contrast between these countries that is related to the study objective, UAE statistical SMEs report, shows that the dominate SMEs sector is the trade sector (60%) such as retail sector, consumer goods trading or garments trading. the second sector is services (35%) such as contracting industry and tourist-focused services. the Sector that is ripe for development in the UAE, is manufacturing (5%), such as auto parts or IT components. On the other hand, SMEs GDP contributions in Canada were highest from agriculture, then health, and then education. Where mining, information, and manufacturing are less contributions to the GDP. However, the concentration in the economic activity in UAE are in sectors with limited productivity growth, such as tourism, retail trade, and construction. In addition, exports are concentrated in gold and jewelry as well as tourism and transportation services. While in Canada the concentration in the economic activity in sectors with higher productivity growth such as agriculture.
The United Arab Emirates (UAE) was not always the global epicenter of the Middle East. Culture is a lifestyle based on values, norms, behaviors, and beliefs of a region. Before it became a country, it was seven different regions next to Saudi Arabia and Oman. Its culture provided a Bedouin lifestyle and one focused upon the region. As the regions progressed throughout history, they began to realize they need one another to survive. Each region had a ruler, called a sheikh, and they banded together to create a federation known as UAE. Today, UAE thrives upon the westernization, globalization, and wealth that have fallen before them. The region fit together like a jigsaw puzzle, the history, politics, economics, social, and military make up the pieces of culture making UAE a stabilized epicenter in the turmoil area of the Middle East.
Abu Dhabi is the capital city of the United Arab Emirates, a country located on the southeastern tip of the Arabian Peninsula, straddling the Persian Gulf and the Gulf of Oman, which leads to the Arabian Sea (see Map 1 above). With a population of roughly 1.6 million, Abu Dhabi is the second most populous city in the country, after Dubai. The city is also the capital of the Abu Dhabi emirate, the largest of all emirates in the country, comprising over 80% of the country’s total land area. Abu Dhabi is situated on an island located just 250 meters from the mainland, and has a very distinguishable skyline consisting of modern skyscrapers.1, 2 The city is located in a desert area by the sea, so it possesses a hot and humid desert climate with summer temperatures averaging above 104 degrees but almost nonexistent rainfall.2 The city of Abu Dhabi was initially settled over 500 years ago, and it remained a relatively small settlement for local tribes until well into the 19th century. Under the rule of Sheikh Zayed bin Khalifa, Abu Dhabi focused on the trading pearls, and was able to develop quickly as a result of its favorable location linking the western world and the eastern realm such as India.3 The city embarked on a road to prosperity in 1958, when large offshore and onshore petroleum reserves were discovered, and oil exportation ensued in 1962. With over half the economy supported by oil revenue, the city’s GDP reached $100 billion in 2006, representing a
The United Arab Emirates geographical setting is located on the Arabian (Persian Gulf). The biggest of the seven emirates is Abu Dhabi which is the permanent capital of the nation. Inland is mostly desert with a few oases and the barren Hajar Mountains run through the country. Their climate is known to be very dry, with high temperatures and humidity in the summer. Before the establishment of the oil economy in the early 1960s, UAE was a sea-oriented culture that revolved around pearling and sea trading. The oil economy triggers the population of UAE to grow to from 86,000 to a small population of 2,624,000 by increasing in improving in diet, health care, and living standards. Over the years UAE has become a multiethnic society and only