Dubai Economy Analysis & News 2016 | Winny Education Dubai Economy

Dubai is one of the seven emirates in the United Arab Emirates. Dubai is also considered to be one of the safest cities to live in as the penalties are very severe. The city is currently become symbolic for its high rise buildings for example the Burj Khalifa and due to its shopping festivals, sports and recreation.


Tourism:

Tourism plays an important role in Dubai’s GDP data. Mainly tourists are attracted to Dubai for shopping purpose. According to a survey in 2013, Dubai was ranked 7th as the most visited city of the world. Dubai is also known as the shopping capital of the Middle East. In total, Dubai has more than 70 shopping malls including the world’s largest shopping centre Dubai Mall.


Architecture:

Dubai is rich with different architectural buildings and structures. Majority of the construction in Dubai is influenced by the Islamic architecture. Even the architectural design of world’s tallest building Burj Khalifa is influenced by the Islamic architecture. The construction of Burj Khalifa started in 1980s and was completed in 2000s.


Diamonds and Gold:

Dubai is considered to be third largest diamond trading hub in the world because of the presence of large number of jewellers in emirate and the tax free business system. Basically the diamond trading is managed by the Dubai Multi Commodities Centre. In 1940s, trading for gold increased following the free trade policy.  The free trade policies in Dubai encouraged traders from India and Iran to set up their stores in Dubai Gold Souk. India is considered to be the largest buyer of gold from Dubai.


Transportation:

Transportation industry in Dubai is managed by the Roads and Transport Authority which is an agency of Dubai government. Dubai International Airport is the 7th busiest airport in the world serving the city of Dubai and other emirates in the country. Dubai metro project which is currently operational with two lines is worth $3.89 billion. All the trains run without any driver and are based on automatic navigation. There are two major commercial ports in Dubai, Port Rashid and Port Jebel Ali which is also the world’s largest man made harbor.


Education:

Dubai follows the education system of United Arab Emirates and the medium of instruction in many public schools is Arabic with English as second language. Many of the private schools use English as the medium of instruction. American University of Dubai, Al Ghurair University, The American College of Dubai, University of Wollongong in Dubai, and British University in Dubai are the most well-known universities in Dubai. Moreover American University of Dubai is featured as one of the six UAE universities in QS World University Rankings.