business-data | Edakulathur Michael Johnson

Adapted from www.euromonitor.com Country overview The UAE is one of the wealthiest countries in the Middle East because of its vast oil resources. Its population grows annually, giving the UAE the highest population growth rate in the world. By the end of 2005, the UAE population was expected to increase by 30% on the previous year. Non-UAE nationals account for 80% of the population, mainly being South Asians and Arabs, while native Emirates account for just 19% of the population. However, five million tourists pass through the UAE every year. The UAE’s government is of a Federation nature. The UAE’s president until 2004 was Sheikh Zayed bin Sultan al Nahyan, who was responsible for building the UAE. His son Sheikh Khalifah bin Zayed al Nahyan took over the Presidency upon his father’s death. Although, the UAE is made up of people of many religious denominations, 80% of those are Sunni Muslims, 16% are Shia Muslims, and 4% are Christian while the remaining percentage comprises Hindus and other religions. Tourism in the UAE is the fastest growing area of its economy. Tourist numbers visiting the UAE grew significantly during the review period. The way the country promotes and represents itself was largely responsible for the influx of tourists, and the distinctive landmarks of the UAE make it stand out on the map. . Although a strict adherent to Islam, the UAE is aware of and takes into account the differences between the UAE and the West, and tries to balance the western and eastern lifestyles in order to minimise any cultural clashes. The government and private tourism organisations in the UAE work hard to attract more foreign visitors to come and spend money and time in the UAE. Festivals, conferences and seminars are held in the UAE that reiterate to visitors that the UAE is up there with the best when it comes to hospitality. Events like the Dubai Shopping Festival and Dubai Summer Surprises are major tourist attractions. One promotes shopping and the fun that can be had doing so, and the other represents the fun and enjoyment that can be had from spending time as a family. This might go some way to explaining why five million people travel to and from the UAE every year. Even if visitors were stopping off in the UAE en route to another destination, by experiencing just one of the many tourist attractions they would get a chance to sample what they could expect from a longer stay in the UAE. During the review period, the UAE started a trend for festivals that other Middle Eastern countries got in to. The UAE government and private entrepreneurs actively promoted the UAE through festivals during the review period more than at any time before. During the late 1990s, the UAE government mainly attracted expatriates to work in the oil industry. Throughout the review period this changed significantly and other aspects of UAE life were promoted to attract more tourists and business investors to the country.